All Forum Posts by: Kar Sun

In my contract I have an option to send the deposit back via electronic method. Most people choose that. They get it back instantaneously and it is fool proof. And there is a record as well. If I have to deduct anything from their deposit I will list the repairs separately and send it via email. In this day and age I should not be required to send any cashier's checks or checks. I am not buying a house so the banks do not have to verify funds. I am returning a deposit. 

Do not call a lender about it. Work with an attorney.

for small time landlords I use avail.co

then its time to get rid of chicago investment properties.

I take photos of the property in areas that might be easily damaged before tenant moves in. I will access the property to change filters a few times a year. On move out walkthrough they must remove all of their belongings. I do not call walkthought an inspection and I put it in a contract that additional detailed inspection might be scheduled. Tenants are not required for move out walkthough. The interest you accrued can be applied toward damage. Just make sure you document everything and you seems like you are on top of things to your tenants.

I have dishwasher because of the price point of my properties but all appliances are the responsibility of a tenant unless defective. It is written in a contract. 

If the one blowing leaves and the one complaining about it are your tenants it is your problem. Even if the one blowing leaves is not your tenant it is still your problem. Because this legitimate inconvenience can be repeated with any  other tenant. Landlording is good customer service and people management. We want good long term tenants. I would make sure Susan would stop blowing the leaves in the direction of your tenant. She is knowingly disposing what she does not want on your property and prevents your tenant from peaceful enjoyment of property. Wet leaves can cause slip and fall. They also can harbor mold and some people might be allergic to them.  Tell Susan to stop asap but do it in a reasonable way.

I am not sure you got it right. Your mortgage payment has nothing to do with the going market rent. Your mortgage can be high because you:1. bought the property at a high price 2. your APR is high 3. your down payment was low 4. any combination of the first three There is no direct relationship with the rental prices. Rental prices determined by 1. desirability of the area based on location 2. amenities 3.affordability 4. condition of property 5. size of property 6. jobs (might be less weighty now due to remote work options for some) 7. any combination of the previous 8. other factors If you do not want to keep the property or to rent at loss may want to look into selling it.

it is generally a good idea to use someone else's money (banks) to get a profitable investment. but it is all about location, appreciation, cashflow and the duration you plan to own it.

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