All Forum Posts by: Jessica Vollendorf

This is all great feedback and really helpful. Thank you. And yes, thank you for clarifying @Fred Heller, it is a "non-refundable pet fee".

I'm relatively new to being a landlord and need some advice. Here's the situation. The tenants have lived there for a year and have paid a security deposit. The tenants plan to renew and sign another year lease. 

I am scheduling a yearly walk through. When I do the walk-through, what do I do if I find damages to the property? 

Do I charge them for the damages at that moment and fix it? Or do I take money from their security deposit to fix it? I am nervous to take the money from the security deposit and not have them replenish the security deposit in the case that they damage more things in the next year and then I am left with a smaller security deposit that may not cover more damages the following year.

If I charge them for the damages at the moment that I see the damage, how long do they have to pay for the damages?

Also, when I do the walk through, is it best to do the walk through with them? Should I call out the damaged items during the walk through? Or should I follow up with a report (that would give me time to research if the damaged items can legally be charged for)?

And one last question...my tenants have a dog. They have given me a non-refundable pet deposit. I noticed that trim near the door is damaged. I am assuming that it is from the dog. Can the cost to fix this trim be covered under their main security deposit (not their pet deposit)? Is this damage that I should call out to them during the walk through, but wait to fix it until whenever they decide to permanently move out? If the dog did cause it, I'm sure it will happen again.

Thank you in advance for any helpful advice!

Hi Laura,

I have done research on sub-metering since I posted this. Sub metering the water meant putting in another line to the main at the street. The cost to do this would've been over $10,000. Definitely cost prohibitive for me. 

Electricity, I am still in the process, luckily on my lot I can have a separate meter box for each unit. Often times you need to have a dual meter box and it is way more expensive. 

But, even the separate meter box may be cost prohibitive. I am going to have to replace a power pole to be taller and provide enough clearance between the wires that exist on the pole and the wires that the power company would need to add. Then, I am going to have to pay an electrician to do the work adding the meter box etc. At this point, I have really rough quotes. The pole may cost me $2,000 (I'll get an $1,100 allowance from the power company) and the electrical work is probably going to cost around $2-3K.

I hope this helps!

Jessica

Does anyone have a Real Estate specific CPA that they trust in Portland, OR?

I've been following the thread and it brings up more questions for me. @Ryan Roberts mentions that it may only be hundreds of dollars vs thousands to have separate meters for the property. I looked into this on my property. It is just a house and a converted garage. The cost to have separate meters was in the thousands. And it would entail ripping up the driveway. Particularly the water meter. Is there another way to install separate meters that I am unaware of? Is sub metering something different? If so, who do you reach out to for estimates on installing sub meters.

And PS, I am not a slumlord. I really care about my tenants. I am mostly on this forum to learn from all of you experts.

I'm wondering if there is a creative way to list my rent price. Currently the utility prices are included in the rent because I don't have split meters. The problem with this is that it drives up the cost of the rent – even though in reality is is less total costs per month since the utilities are included. I think I am not showing up to the potential tenants that are looking in the same price range as my listing. Is there some way that I can list the rent price differently and still be legal? Currently the cost of rent is $1625 including utilities. Could I advertise it as $1400 with a set $225 utility fee? Or is this dangerous territory in terms of legalities?

@Matt Garboden 

You can find the listing on radpads, zillow, trulia, hotpads and I have even posted to Craigslist now. Thanks for keeping it in mind if you know someone looking.

Thank you all for the responses. I also have another question. Currently the utility prices are included in the rent because I don't have split meters. The problem with this is that it drives up the cost of the rent – even though in reality is is less total costs per month since the utilities are included. I think I am not showing up to the potential tenants that are looking in the same price point as my listing. Is there some way that I can list the rent price differently and still be legal? Currently the cost of rent is $1625 including utilities. Could I advertise it as $1400 with a set $225 utility fee? Or is this dangerous territory in terms of legalities?

I'll try RadPad. Thanks.

@Jay Harding Will I get kicked off the forum if I post my ad here though?