All Forum Posts by: Kathleen Leary

Mine might be C+, but definitely on the "wrong" side of town. I've totally upgraded the property, from new siding to tile backsplash (nothing crazy - I'm not made of money!) & have set the rent accordingly. A nicer house (with correspondingly higher rent) attracts a better tenant pool & I screen carefully. I do not want $500 tenants, so I don't have a $500 property. And I haven't had as much trouble with damage, late rents, evictions, etc. This may not be the way to go for a lot of, shall we say, "less desirable" neighborhoods, but it has been successful for me.

My tenants deposit directly to a bank account, using any payment form the bank accepts. (Each property has its own separate account.) The bank issues a receipt to them. I can then access the information online & print out any documents I need. This system has worked well for me, although (fingers crossed!) the IRS has not seen fit to question it.

And of course, this is all spelled out in my lease agreement & discussed in person before papers are signed. 

My lease spells out exactly what constitutes an "emergency." Tenants do have my personal cell number, but only for the aforementioned. When signing the papers, I go over that clause very carefully with them. (I prefer they e-mail me, actually. I have TERRIBLE cell service where I live, anyway & it isn't very reliable.) But if there is an actual emergency, I definitely want to know about it!

So far this approach has worked well. It's about both parties knowing exactly what's expected & what the existing procedures are.

This is the Midwest, so it's ALWAYS white woodwork & ceilings! I like a pale beige, personally, just dark enough to get a good contrast with the woodwork. Out here in the flatlands, folks have a lot of brown/natural wood/beige furniture & linens, so gray is a little too trendy for some properties. Choose a color, buy a bucket & stick with it. NEVER let your tenants paint anything themselves or choose their own color. Be sure & write that into your lease, too!

Some jurisdictions have a cap on the numbers of occupants allowed in a given property (based on bedrooms, for instance); others don't. CHECK! You may be able to deny them the property legally based on your local ordinance; otherwise, you're going to run into serious discrimination issues. 

It's all local! Know what the law says in your own area. Don't guess.

Moving forward: the day following "switchover" of utilities to the tenant (whatever date they've told me they were going to open their own utility accounts), I ALWAYS call the utility & double-check. Do not let this go any further. If the utility has not been transferred, you end up where you are now. A phone call can save that trouble. My lease has provisions that spell out penalties, etc. for failure to transfer, which then gives me the option of eviction. I would certainly consider it for the above-mentioned reasons.

Here's a photo of the kitchen. It's not a fancy place, by any means, but you should've seen it before!

I actually have a portion in my rental agreement as to what constitutes an "emergency" & how those & other "non-emergency" repairs will be handled, by whom & when. 

Most states allow access to the property with 24 hours' notice, regardless of the tenant's availability. (Check yours, of course!). 

If you have it in writing, with valid signatures from the tenant, STICK TO IT! 

If you don't have it in writing, add it to your next agreement & learn from it.

If you don't stick to the terms of the lease agreement, why should they?

Boot 'em.

My current in-town tenants move often, about every 12-18 months because of the husband's job. (Which is too bad - they're great!) However, they usually buy "new" furniture & appliances once they move in & sell them when they move.  (This situation could well apply to military families, as well.) Anyway, they don't have any holiday decorations & I provide an appropriate wreath for the front door out of my own HUGE stash of stuff.  Not a big deal, but the wife really likes having a little seasonal decor. No cost to me, makes them happy - happy tenants, happy landlord! I also provide a planter for the front porch - again, a little "plus" that costs me nothing. All they have to do is water it.