All Forum Posts by: Account Closed

Screen the co-sign equally as carefully. And no, do not put dad on the lease, he is a guarantor only and has no rights to inhabit the property. He signs a document stating such. Credit check him too.

Deposit paid -> lease sign -> copy to them -> keys once they pay rent in full and deposit in full (if enforceable).

Screen better. Do more regular inspections. Change locks immediately at move out. Problem solved. And charge more for damages! I do $50/ hole requiring patching. ~$500/room requiring painting. Let them take a day off work to fight it if they think the 50+ pics at move in/ move out and documented emails/ text communications are misleading.

I have a colleague who puts up curtain rods and that’s it. Supply your own curtains. Personally I use a couple online retailers and go 2” faux wood. They get heavy when they get wide though, sometimes I split them

I provide supplies, they supply manpower. With any senior aged tenants I contract out snow removal (and let them know that I’ll eat that cost as a courtesy). Lawn care is always tenants.

Expecting me a landlord to absorb your personal situation by paying late (by any margin) is not something I tolerate. And that conversation happens before we sit down to sign the lease. Don’t care what the “reason”, if your heart is beating you pay on time or you don’t get renewed (at minimum).

5 years ago I started going vinyl plank. I made one exception for a portion of a bachelor suite I have. That exception was a mistake. Vinyl plank, no exceptions. There’s thin click together stuff (decent, and cheap) or thicker fibreglass reinforced stuff (basically a forever floor).

Maggie, I say this with all seriousness, ... every tenant will lie to you. If they’re under 30 years old and they view the property/ apply, assume a significant other will be joining them. Approach it in the future as letting them know that you have no issue with it, but they’ll need to pass the same screening as well as sign the lease. “So, will you be having a room mate or partner living with you?” Is an easy way to start the conversation.

@JaradethMize happy medium comes from: - education - partner - healthy reserve (NEVER over leverage yourself) - DO leverage your people resources Swinging for the pin often finds the sand, you’re still on in 2 if you lay up. And you don’t get sand in your socks either.

Great list above! #10 is my favourite. I’ll add that the Memphis Invest boys are doing a fine one called Experience Matters. I’m not a turnkey guy either and it’s still a great podcast. I love listening to world class business minds talk about the way they approach things regardless of business category.