All Forum Posts by: Linda S.

 Check with the city, and fill out whatever paperwork is necessary to have it be classified as a rental.     If they want to, they can look at the deed and see if the property owner address matches the house.   Most of the time they're just looking for safety things (smoke detectors, windows open, etc), so it shouldn't be anything to worry about as long as you property is good.  Now if you're a slumlord, and say the house is moldy-- then you have a problem.   

@Chris Kendrick,

Check out the state/city laws and what is required. In VA, it doesn't need to be signed by a lawyer or notarized, or filed anywhere, but some states are more particular. I'd say find a local landlord in that area who self-manages to confirm what the process is, as certain states (ex: MA,NY) can be very, very particular.

@Autumn Churchill,

Our first true investment property was a duplex.   What I've learned is that you don't take anything personally,  your tenants don't like you, and 99%  of the time,  you likely won't like them when you see the place when you move out.  Figure out a way to harden your rentals, and be proactive with stuff, tenants don't care about your house.  

Do annual inspections, even if you think you don't need to.., walkthrough, and see what's going on with your own eyes.   You can prevent a lot of bigger problems by catching smaller ones. 

The worst thing you can think is "This won't happen to me, I'm going to be a good landlord."   Bad stuff happens to good people all the time, you need to be proactive and plan for it, whether it's fires (we provide 2 separate fire extinguishers, smoke alarms,etc), or leaving bug spray  for tenants because you know tenants will be messy and bugs will come-- you need to plan to be proactive as a landlord.  The more you plan and are proactive, the smoother the ride can be for you.

@Byron Paille,

My goal is to sell now, and get to zero--  and become a hard money lender!

So many people fail to realize, the more you have-- the more stress it is, it's a lot to manage, and the more you get, the more work it is, that is --if you're a good landlord and maintaining your houses.

@Ian Dikhtiar

It's a cute idea, but honestly a waste of money.  Clean people will be clean people, dirty people will be dirty.  I used to do stuff like that, but then when they move out, and you see it literately in the trash, that's when you realize-- it was a complete waste of money. 

If you do decide on doing something, make it something for your benefit-- like leaving drain clog remover, or pest/ant spray, something they can use first instead of calling you.  

@Joshuam R.,

 1) I enjoy knowing that I've turned a house that was boarded up and a complete eye sore, and renovated it and brought it back to life.   I love picking trendy colors for the exterior, it brings life and energy to the street!   I love getting stuff on the market place (ex: cabinets, fridges,etc) and giving it, it's 2nd life in a rental, and less pollution!   With low-income rentals, people are used to the bare minimum, so when you put in a nice light fixture, they are very impressed!

2) I enjoy the returns/cashflow, while everyone else ran away in 2016-2020,  we ran to them and fixed them up, a lot of them!!  Now everyone else is coming back since the city got their stuff together, and it's been a fun ride to see the appreciation!  

3) I enjoy offering high-quality people an affordable place to live that's well-maintained.  I have some of the nicest, most amazing tenants.  Unpopular opinion, but about 25% of my tenants in C/D actually pay early. 50% pay within the grace period and 25% pay by mid-month.  I've worked with my tenants, if they lose their job, we use their deposit and do a payment plan.  I genuinely feel like I'm helping them get back on their feet.

I can give you a MUCH, much larger list of things I do NOT enjoy...    Don't cherry-pick the good stuff.  There is a reason it's high risk/high reward--  it's a shark tank, and you need leather skin to handle it, because sometimes it's really, really dark.  Some imagines you won't unsee, some things you will always remember the smell, it's hard --mentally, emotionally, and financially.  I swear I have PTSD from some of the stuff.   You won't likely say that about a B property.

@Wendy S.,

If you do accept this-- please go by when it's like 10 degrees outside, and you see the dog shivering.   Please make sure to go see it when it's pouring rain and the dog is trapped and miserable, and don't forget about when it gets to 100 outside, and it has nowhere to go.    I'm' not being emotional, I'm being logical.  It's the most heart-wrenching thing to see..  and don't forget when it dies from heat exhaustion, remember you played a role in this by allowing the dog to be outside only.   

Also, you're completely naive to think if this person is an animal lover, they will actually do that, and not just have the dog with them in their room.

We have a clause in our lease where if we accept a pet, it's not allowed to be an "outside only" for the reasons above.    If they can't be an adult and give the dog up, or pick housing that allows the dog-- I wouldn't rent to them.  Just my 2 cents-- coming from someone who allows pets inside, and got notified one time  that an adorable puppy died because the tenants  left him outside in the heat too long.   It happens, don't be a part of the problem IMO.  1000% NO-- I wouldn't accept this.

@Steven Barr,

If the tenants notified your friend of the dead tree, and requested they take it down-- if anything ever happens such as the tree falling, or their limbs falling and destroying their cars-- your landlord friend will be liable. By liable I mean responsible for all the damages done, which could be tens of thousands of dollars if not more.  They need to get the tree removed ASAP.   It's dead-- they should be more worried about their house and their tenants, absolutely take them down ASAP.  

@Mary Jay,

Look at the ages of the kids,  and also what is the ex-husband's job?   If the kids are older,  in a year or so she won't be able to afford it if alimony/child support stops, but if they are young and the ex-husband's work is very stable (ex: accountant/lawyer), it would be a safe bet.  Just make sure to look at the big picture and what the situation might look like in a year, or two years down the line too.

@Manley Woods,

Knowing what I know now-- I would wait and get a younger property (1940-50s).   

The older houses have beautiful charm, high ceilings, unique craftsmanship, and lots to fall in love with... if you do a renovation,  it will rent quickly... but what tenants won't love it?  Their electric bills.   I have a house that's a 3/2 1800 sq ft, 1900 victorian-- her GAS bill in January, of one of the mildest winters we've had, was $930  for 1 month!    Another house, which btw has 2 BRAND NEW HVAC units, which is 1910's 2500 sq ft, huge 4bd 2 bath, 10-12 ft ceilings, another gorgeous Victorian... their electric bill in January was $1,000!   Big old houses come with big old bills!   Now granted, it might be a filter issue, but the underlying thing remains the same-- big houses, big bills =  tenants complaining for good reason.    

We're selling the big houses now because of this issue,  it's an uphill battle!