All Forum Posts by: Kim Meredith Hampton

I ageee with @Deanna McCormick. After you gain access this way, this will determine if you want this tenant for the future. He is setting the rules his way, not yours!

Download the Florida statutes online for future reference  

When was rent due each month? Our leases can begin on any date of the month, that's what is prorated, but our leases are paid monthly on the first of each month, hence their thirty day notice would need to be thirty days from the first 

Since everything else is checking out and there is steady income, I would ask for first, last and security to make you feel better. Or you could simply ask for a co-signer

I agree with @Jeff B.

I am always really careful with things like that, people are sue happy! Don't give em' a club!!

I have several landlords that do this very same thing. One lives in the unit next door, one lives on the same street and another lives in the same neighborhood. Most of them want to remain anonymous. Some people will take advantage of people like that, and people also like their privacy. Nothing wrong with that.

It doesn't happen all the time, but some renters look for owner managed properties because they think you won't do a thorough background, and try to avoid management companies because of their bad backgrounds.

It is up to you and how you feel in the end 

I actually collect a holding deposit when I collect the application, when they are approved, this turns into their security deposit. If for any reason they decide to not move in or cancel after their approval, the deposit is non-refundable (states this on the rental application). Leases must be signed within 2 days of approval, or I move on. If they do not put a holding deposit with their application,we keep showing the property, and everyone is advised of this.

In addition, I also collect a Full months rent upon move, does not matter if they move in on the first, 10th or 20th, always a full month, and then the second month is pro-rated.

I also charge a non-refundable cleaning fee and carpet cleaning fee. 

I have been in PM for just over 20+ years, and even did multi family for a few years prior. Dont want to scare you, but wanted to be honest. PM is a very stressful job, work 24 hours a day, deal with unhappy tenants and owners who dont want to hear from you about ANOTHER expense for their property. You are responsible for renting the property, marketing, running comps, processing the rental application, knowing all of the statutes, local municipalities and what each HOA or COA want and need from your applicant and want you can and cant do in the neighborhood, preparing lease agreements, collecting rent, posting 3 day notices, dealing with the ever ending excuses of why they cant pay, conflict resolution, evictions, maintenance calls 24/7, finding decent licensed and insured vendors, property inspections, move outs, processing security deposit claims, accounting, the list goes on and on....The funny part is that ALL of this can happen in one day and more.... So many think just collecting rent and unclogging the toilet are all the property manager does and that its easy!! SOOOOO far from the truth. I havent even mentioned the tenant who dies in the property, leave behind all of their crap (abandonnment) or the tenant the refuses to leave and on eviction day, you are there with your eviction team the entire day while your phone and email is going nonstop.

Now that I have scared everyone, I would never do anything else!!! May sound crazy, but I love this crazy business. I love that its never the same day twice, and I have met some of the best owners, who are extremely grateful for what you do, the tenants that are beyond happy because you found them a place to call home, and learning and serving organizations that specialize in property management. 

Get your RE License, you will be happy that you did, network with the people you meet taking your course and find where you fit in the umbrella of Real Estate.

I wish you all the best

You could also add a maintenance addendum outlining each of the items in the home, in addition to a clause in the lease agreement regarding and damage to the property inside, outside, appliances etc....you could put together a small video clip about the home and maintenance to further clarify who, what, why and where.

You are well within your rights to charge them for this damage. Remember that you only have s short amount of time to make the claim on their deposit. 

Hi @stuartfox, would be happy to meet to discuss areas, rents, and fix up costs on any properties that you are interested. We manage homes in the Orlando, Tampa and Melbourne markets. We have a strong network of properties that can be purchased that are off market, with tenants and cash flow. In addition, we have licensed and insured Gc's. fix up crwes for anything and everything

Thats a difficult one here in the Orlando marketplace. The price points have went up significantly over the last couple of years. Pine Hills area may have a few, but not the nicest area, but the rental market here is very strong, so your return would be good too. We also have the other Southern end of Orlando in the Kissimmee/St Cloud area where the prices are lower, rent prices good, but the tenants can be rent challenged at time!! The northern end of Orlando is Sanford, where their seems to be a gentrifaction of the area near downtown Sanford