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All Forum Posts by: Jill F.

Jill F. has started 41 posts and replied 2485 times.

In ohio it is illegal for a landlord to shut off utilities to a unit-- You have to do an eviction for non-payment... don't know in PA

Post: How to manage a difficult tenant.

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

I inherited a tenant that had been allowed to pay "whenever." I wrote a late policy that I felt was pretty generous-- max 4 lates per year, max 3 lates in a row, max 2 quit or pays.  I have a three day grace period but still count lates unless notified on or before the first. Fee is discounted 50% if notified and then payed  before the 7th.  I quit and pay on the 7th. I accept longer payment plans on a case by case basis but require people to stay current on daily rent through each payment. It took about 5 months of referring her to the new policy... but now she pays fine.

Post: A Written Late Rent Policy

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

@Sheila F.  and 

@Travis Hughes

Thank you both for the helpful responses. I just now found "started discussions." I wondered where this post had gotten too **Blushes**

Post: ASBESTOS here we go UGH

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

@Aaron McGinnis

The plasterer that has worked on a couple of my projects was telling me he started his plaster apprenticeship  program in 1952 (he's now in his mid eighties and still does small jobs). He said they use to have a bucket of asbestos flakes and pick up a handful and throw it in the plaster mix. He said he's the only guy from his apprentice class still alive.

Post: Should I give up on buy and hold?

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

@Farakh Zaman I'm from the space coast area and I spend time in the area each winter.

I spent a little time looking at properties there last winter and found the market to be EXTREMELY competitive. We decided to focus our efforts in Akron where we live most of the year and we've been able to close on 21 units since August. Maybe try some different areas.

Post: Fire and my renter owes $2400. What would you do?

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

@Thomas S. It's really not a defeatist attitude. Some people are "judgement proof." They have so few assets and make so little money that the courts will not order wage garnishments so creditors just have to hope a) that the debtor improves their situation before the debt is past the statute of limitations if waiting to sue for a judgement or b) that the debtor doesn't bankrupt on a judgement if already awarded. If the tenant agreed to pay $50/month, I'd get what I could.

Post: favorite interior paint color for rental homes?

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

I like valspar villa grey which is another warm greige (grey-beige) in a satin finish. It does not have the pink undertones often seen in beige or the blue undertones in grey. It looks good with white trim and various wood trims.

Post: Serious question - Rent, or live in an RV?

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

I live on a sailboat half the year and my mother lives in an RV resort. Living on a sailboat or in a camper can have some issues you won't find in a traditional house-- your "plumbing" situation is not going to be as seamless as what you are use to in a house or apartment... you'll have to deal with holding tanks and sewage treatment and disposal, macerators break all the damn time, 6 gallon hot water heaters, filling water tanks, space is small inside (and often outside), insulation is usually non existent. In addition, nicer campgrounds can be expensive and you won't always get the money you put into an RV or camper out of it when you go to sell.

Unless your parents have facilities for dumping black and grey waste, and convenient, more or less permanent power hookups (at least 50 amps) you will likely end up at a campground paying some rent. So you'll want to check into local rates and figure not just the cost of the camper but the cost of campground rent.

Having said all that, there are some advantages to living in campgrounds and marinas: it's easier to make friends in a transient community, some have resort quality amenities, if you don't like your neighbors or if you run out of work, you can pick up and move your house, and it can be a comfortable, less expensive way to travel... I love the lifestyle and look forward to moving to our floating home each year.

You might want to rent an RV and spend a month living in it before you make a purchase decision just to see if the lifestyle is for you.

Post: Lowered rent now Tenant wants refund from Security Deposit?

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

In Ohio, if you hold more than one month's rent for security deposit for more than 6 months you must pay 5% annual interest on the amount over one month's rent.

Post: Calling yourself the "Landlord" or "Property Manager"

Jill F.Posted
  • Investor
  • Akron, OH
  • Posts 2,532
  • Votes 4,280

I considered using property manager, but our first properties are around a university and the property management companies around the university are mostly so awful that we went with landlord & owner to differentiate ourselves. We work on our own properties and I think our tenants appreciate it and take better care of our property because they see us out there working and personally taking care of the properties. 

Also, I don't really feel any need for a level of indirection. As a landlord (and also as an employer and as a parent), I have never had a problem saying "No, that's not going to work for me", "I have to think about it", or "here are some options".