All Forum Posts by: Linda S.

@Eryk R Wnek,

Will things go wrong-- absolutely!  100% guarantee! 

 Buying a house is a marathon of fixing stuff and dealing with tenants, it shouldn't be scary-- it should be expected!    

@Nicole Cardona,

If your property is in VA, and your plan to self manage-- get used to checking the courts-- it's county by county for evictions.

https://www.vacourts.gov/casei...

You can do the background checks, but from my experience, nothing is as detailed as the actual court system!  Hope this helps!

@Charles Heistand,

We do 2 showings, normally Saturday 2-3PM and Sunday 3-4PM.    Nothing more, nothing less.

I estimate I tell about 50% of the  Saturday people 2PM, and the other half 3:30PM-- this creates a nice flow, you will have a few that come early, those are the ones that likely want it the most, but most will be 15 mins or so late, and that's okay.    This minimizes time wasted.  

The amount of people  that show up depends on the perceived value of your house, if it's a great price and people really want it -- they will be there.. if it's okay, they are iffy and will stand you up.     I have had some where I thought it might be 25 people-- turned out to be 2, and some when i thought 20 -- it was like 40.   

I also copy/paste the same reminder text to everyone an hour before a showing--- just a quick reminder of the appointment!

Copy/Paste is your best friend.   I just did a rental, I think I got 160 emails, 24 applications, and I copy/paste the same thing to everyone explaining the criteria/time of showing/what we need for minimum qualifications/etc.. copy paste is your best friend.     Personally, I might have a few emails ahead of time with someone-- but until you meet them in person,  you may be wasting your time as they might be a no-show.   If someone comes to showing-- it shows they actually want the place and are serious, the emails/calls it's all on the fence and possibly a waste of time-- the showings are your real potential tenants.   

@Daniel Fitzroy,

 100% NO-- DO NOT FRIEND TENANTS.    If possible, DONOT RENT TO FRIENDS-- EVER.    There is nothing wrong with having a positive, healthy tenant/landlord relationship.  If it's built on mutual respect, it's awesome.   I'd say with all of my tenants, there is a positive relationship-- which I enjoy and it makes managing them easy! 

 Liking a person is normal, you should like the people you pick... friending them is completely different-- 1000%  NO.  Do you want them seeing your house/car/lifestyle-- oh yeah, the one they are paying for?   Awkward tension builds up quickly!   

NO. NO. NO.

@Matthew Kirkwold,

If you aren't okay being the "bad guy" you shouldn't be managing your own properties.    Tenants DO NOT like you, this isn't a friendship, in reality, tenants probably secretly (or not so secretly!)  hate you and think poorly of you because you're taking so much of their money-- even if you're providing them a beautiful and affordable place to live!  Learn to be okay with it, not a popularity contest-- you want respected, not to be liked.   

Think tenants can't google you or search the GIS website to find out who the real owner is--- and I guarantee they will if you ever say the "owner" did something they don't like-- then they'll find out it's you.. and in addition to thinking you're a liar, they'll also think you're 100% a coward!    

Be honest,  ethical, upfront and ask for the same in return-- that's the best way to manage IMO. I only do M2M, it keeps everyone happy.. if someone isn't happy, or a huge PITA-- MOVE.  Easy!  I like life and managing properties to be easy!

Ps.  @Jim K., great idea about the fake ID, probably an easy time of the year  to be Kris Kringle! :)  LOL j/k

@Brendan M Brown,

If you're disgruntled now that you aren't finding a deal, wait until a tenant takes a giant dump on your rental, trashing it causing thousands and thousands of dollars in damages!           You have to be your own cheerleader, and you have to be the one pushing yourself to keep going-- no one else cares about what or why  you are doing it .   

You need thick skin, lol this is just the beginning! It gets a lot worse!   I always say you can tell someone's experience level, based on how salty they seem... just some food for thought!  Good luck!

@Ron Brady,

One thing I ALWAYS do when getting an appraisal done, I send them an excel file listing all of my improvements done the house.  and show them similar houses based on YEAR BUILT,  construction type/style, and similar size +- 500 sq ft, and within 2 miles.    My job is to plant a seed, and help show them what I view as most similar comps based on logic.    The main question you need to ask yourself-- is my house being compared to flips or ones that need renovation?   I try and prove my case ahead of time, show specifics! 

I absolutely feel for you, and it sucks-- it does.    When we started out, I would talk to the roofing contractors, and you know what--- we got screwed and they ripped us off big time, doubling the price of the roof....  shady contractors aren't afraid to screw over a girl.. it sucks, so now my husband deals with them directly, he can talk their lingo/terminology and call BS ... whereas I do the financing/marketing/numbers side.    

Whenever I do do showings, I dress in my regular casual work clothes, and sometimes have  our workers do the showings-- how someone treats people that they don't think have power tells me everything I need to know. 

@Nathan Gesner

In Virginia, the law is that you legally have to put everything of the tenants on the curb/street in front of the house.  

It sounds harsh, but that's what it is-- the landlord is suppose to put everything out to the street/curb for I believe 10 day, so that way if the tenant left anything they can pick it up without entering the house.   

@George Kopp,

100% Yes--- get the blinds, it's about privacy and security, not just for the tenant-- but for your house.    No blinds, as @Jim K. has said, I guarantee it will be a sheet/blanket, and there will likely be some type of logo on it.     

Blinds are standard-- and I do C/D rentals! 

Put a note in your lease,  how much each blind is to replace (ours we do $20/blind including install).   When you  do your walk through video/pics, show all the blinds.   If you want to spend a lot, you can-- it's your house and your budget, but you don't have to. IMO tenant shouldn't be charged more for blinds. 

@Michael Salamone

Rule #1) Tenants are NOT your friends.    No emotions, but this is strictly a professional relationship when you exchange your residence for rent.   Throw all the emotions out the window.    

Last year, we had a tenant leave, while trying to scam rent relief-- who over 4 years, we waived quite a few late fees, worked with her, had a very positive/easy/happy tenant relationship.  When she learned we weren't giving her the extra money (would have been illegal) and instead sending it back to the rent relief program-- she came after us like we murdered her dog.   She threatened to sue us, destroy our name, do everything and anything she could.     It wasn't until I called her out for forging a lease-- that she backed off and said if we ever contacted her she'd file a restraining order.    Things went from really nice/friendly professional to beyond vindictive/angry in like 1 day.   Tenants are NOT your friends.  Tenants will go for your throat the SECOND something goes wrong, even when it's their fault. 

Also, as @Nathan Gesner pointed out-- No good deed goes unpunished.  I feel like that's magnified in rental properties.    You can also tell the experience level of the people on BP based on how seemingly cold/jaded they are.    It's not that people who say it's just business are scrooges, it's that we've seen-- it doesn't make a difference.   There aren't warm/fuzzies in rentals.  

Another piece of advice my mentor told me, one time we were on the phone, and I was like "This is stressful, this is hard!" He goes  "Good-- it should be.   That's why you're making a lot of money, and others aren't."    Just something to think about!