All Forum Posts by: Kevin Turk

Thank you David and Mike!

Do you do a deposit to hold? If so, how do you go about it? How much and how long do you give them to submit the deposit to hold, how long does the deposit to hold last?

I have multiple interested potential tenants, I have offered to one as others continue to come in. It is currently rented so I'm not losing rent, and the lease wouldn't start for about another 5 weeks. I wanted to offer them right of first refusal so that they can have the unit if they are ready to move on this, but I don't want to take it off the market without knowing that they are going to sign a lease and submit the rent and security deposit. Any other thoughts or strategies that I haven't mentioned? Thank you!

Great perspective here JJ thank you! I've found that a lot of your points I've already experienced too! Treat them with respect and they will do the same. And don't worry no one gets in without a background and credit check :)

Mike - great input, thank you. That was my initial thought as well. Regardless of how long they plan to rent, offer to start with a one year term and m2m after and give them an idea of the annual increase. 

Hi everyone, thank you for taking the time to read my post and providing your recommendations.

I am currently house hacking in Philadelphia and have a beautiful 2 bed 2.5 bath that I'm renting out. The tenants are paying $2,200/mo ($2,175 rent + $25 pet fee) and they purchased a home of their own, moving out either 5/1 or 5/15, they're ok with either.

I listed the property on Zillow at $2,350/mo and it received a ton of interest (almost makes me think I may have listed too low, however the best comp has been listed for 60 days at the same price), just days later I showed it to 5 couples. They're all pre qualified and it doesn't seem like there are any red flags. I want to detail some of the options and hear about your experiences and suggestions for a strategy moving forward. Thank you!

*I don't really mind tenants having a dog, the last two have and it's been fine, doesn't hurt getting the extra $25/mo

Couple 1 - would like 12 months and hope to extend if they like it. Have a dog. They've been very attentive.

Couple 2 - looking to move somewhere for 3-4 years and enquired about some sort of price lock or preferred pricing since they would like to live there longer. No pets. Wondering what kind of strategy would work here, I don't want to not increase the rent at all annually - based on the amount of interest I've received at this price.

Couple 3 - looking for 24-28 months, with a potential hard stop at 28 months. This leaves me looking for tenants likely in September or October in a couple years which is less desirable than sticking with May start dates, however the last two tenants moved in in October and February so the interest in the home is usually pretty high.

The others I've somewhat ruled out but any and all input is very much appreciated, I can answer any questions too. Thank you!

Duplicate post, sorry. 

I would like to be added to multi-unit lists as well! Looking all around but mainly Fairmount Area or easy access to 76/Kelly Drive. Looking to House Hack and live in one unit while renting out the other 2 or 3 for income. Thanks guys!