All Forum Posts by: Laura Kayes

Hi @Val J.,

First of all, KUDOS on visiting the property so frequently. That is a great way to find these issues and perform preventative maintenance/reduce costs at move out.

1) If she is on month to month-do you want to keep her? If she is causing substantial damage to your property, it may be better to give her notice. This would be my #1 suggestion and do so asap. 

2) As far as the baby daddy, if he is living there, then he needs to be on the lease and held responsible. It is fine if he doesn't qualify  under your standards, but just have him on the lease so if they are evicted ect he is also held responsible

3) For the air filters, a company I used to work for would hold tenants responsible for this. If we went into the property for a walk-through visit, and the air filter was filthy, we would replace the air filter and charge the tenant back $30. The tenants learned really quick...This is your investment! Don't forget that :) 

Honestly, it sounds like a headache situation and time for the tenant to just go. I would just suggest my first point of giving notice and finding a better tenant who respects your property. Tenants like this don't really ever change. 

Good luck! :)

LOL @Alyssa K. that just made my day. 

@Alyssa K. hi :) OKAY... just making sure I read that correctly. Definitely should not be receiving a commission like most comments state! That is actually really strange and bold! Your email to the agent was definitely appropriate. 

Tenants are flaky and tend to not show up for appointments. I would say its a 1/10 chance they will actually show. For this reason, I use video marketing and send it to every perspective tenant. It is a simple walk-through video of the property that I take on my cell phone. I also encourage them to drive by the property as well and if they are still interested after that, then you'd be available for a showing. I also always give the qualifying information up front so they know exactly what is needed for that rental.

If there are quite a few interested applicants, then I will schedule showings back to back or hold an "open house". This is also a good way of giving the sense of urgency to prospective tenants who are serious, because if they see others are interested as well they will be more inclined to act quicker.

I have no experience with self-show, but I do think that is an awesome way as well.

Good luck!

Hi @Alyssa K.. I just read the chicken excerpt above, but would say that I wouldn't necessarily find that odd in Hutto... it is kind of a rural area. Just a small input on that.

As far as the commission... did the Realtor refer the applicant to you? I was confused about this in your original post, or if it was a friend who was not a Realtor?

If the Realtor was the friend and referred this applicant to you, then I would say 100% a negotiated referral fee/commission should be paid. If this is a completely separate person, then no the agent should show properties that are offering a commission. 

Good luck!

As Greg stated ^^^.. he is correct. I wouldn't worry to much about how many days ect for repairs. The repairs that can get you into trouble as a landlord are failing to repair anything that affects the safety, health or habitability of the property. Keep repair requests in writing so you can document the dates ect and make sure to handle repairs in a timely matter. 

@Lyle Cooper Do you own the condo? Once again, not in New York, but here in Texas the landlords are responsible for anything involving an HOA... I think thats crazy to ask and I would wonder what rights they have as the association if this is your property... First, Last month rent and a security deposit is definitely good enough...

Woah! 80x the monthly rent?! Is this a standard in New York? Here in Texas, it is just 3x the monthly rent..and for a guarantor + the tenant it's the same... This must be a completely different market for rentals...BUT...No I would definitely not be concerned.... My dad was a guarantor for me my sophomore year in college. The financials are insane though... just saying. 

@Sheena Lee

You can definitely try to get this information. I'd send out a welcome letter explaining that you are the new landlord and how they can pay rent moving forward. Ask for their contact information for the purpose of collecting rent, and then ask them to fill out an application so you have their information moving forward for your records. I would expect some pushback... but if they wan't to stay and not be evicted you may be able to get what you need. Also, depending on the location of your rental, some people may not have a SSN. The point above to be nice is good, also be confident!

Hi @Christine Hunt

It may be the best option for you to look for a property manager, or an agent. I know that you are looking for alternatives, but financially (especially during property turnovers/re-leasing), it can actually be a cost saver for you.

Some things to consider that a PM would be able to provide:

- Who will inspect the property once the tenants move out? If there is a security deposit to be itemized, it is important to get photos ect.

-Do you have a maintenance team to handle the make-ready between tenancies? 

-Do you have a system in place for marketing the property, screening tenants, handling phone calls, and preparing the lease agreement?

-How will you determine market rents?

-How will you handle collecting security deposits, rent ect.

Additionally, not all companies will charge a month's rent. Conduct some research in the area and you may be able to find companies that charge 75% of the first month's rent, ect. This is negotiable, however keep in mind as well that agents who work commission only won't want to show your property to prospective tenants when the one down the street is offering commission and yours is not. 

Lastly, between tenancies when the locks are changed, some locksmith companies can go ahead and put a lockbox on the property for you. There are also companies that charge flat-fees and if there is one in your area they may be able to provide what you're looking for. 

Good luck! :)