All Forum Posts by: Account Closed

wrt water and sewer, if it’s an old knockdown check and see what the city requires for new service... sometimes they cover 80% of the new service. ... but only for the old house! I know a few guys who’ve replaced the sewer/ water line, and applied for the demo permit the next week. Saved them ~$10k

$100/ dog monthly. Add this amount to deposit also. Use pet addendum allowing you to evict animal without evicting owner (doesn’t absolve them of rent obligation). Inspect 3x first 3 months. Quarterly after that. Needs to be licensed at all times. Confirm tenant insurance with animal coverage 2x annually. Excellent profit centre of done correctly.

Don’t let the door hit ya. Zero deposit returned. Zero rent returned. Next.

This is my bread and butter, decent bones but gross (cat piss, smoke, 1972 everything etc). Ozonate the entire place. TSP walls and hard surfaces. Prime with killz primer. Paint (I choose Touch of Grey). If raw concrete, treat with urine neutralizer. Replace ALL soft surfaces such as carpet, curtains, etc that absorbed the disgusting previous tenant. Repeat.

1. Run some a/b testing on FB maybe ?

Replace flappers on toilets every 5 years regardless. If they’re old toilets replace the whole thing with a good Toto version. Easiest way to find a flapper leak is pour some Gatorade in the tank and wait 5 min. Red in the bowl = flapper. Or just assume they need done as they wear out and buy new ones for $3 each and replace.

Take a look at the overall picture. Don’t let any one specific thing be the noticeably weak link. Example: in lower end ~ mid range rentals lots of people upgrade flooring and counters and then leave the gross older cream coloured electrical plugs/ switches. Just make sure they’re not the weak link. With appliances, wear and tear is a killer. New alliances look 5 years old in the first year generally.

Yes you’re right I think. Anyone willing to walk away over 8 days rent isn’t an actual buyer anyway. Most I would do is a gentleman’s agreement for the first 8 days rent once funds fully transfer. Anything above that, take a hike.

Rent from 9th -> should be credited to the purchaser anyways... this is done at closing on statement of adjustments.

I wouldn’t require notarizing. But at $20, it’s not exactly expensive. Definitely scan front and back of EVERYONE’s ID.