All Forum Posts by: Lois Ginter

Is the basement connected to any other unit?  If it isn't I think I would keep the rent competitive, and the basement would be a feature that makes you stand out.  Whether the tenant uses the basement or not, you still have the same amount of maintenance since it is unfinished.  

I am thinking about providing new tenants with a welcome basket of basic cleaning supplies and household items like: paper towels, toilet paper, toilet brush, plunger, dish soap, and all purpose cleaner.    I moved a few times this year, and that kind of stuff usually gets lost in the shuffle.  Is this a nice touch, or would people think it is weird?

I am just getting started as a landlord, but came from an IT and accounting background, so I embrace technology.  I studied a few of the cloud applications and TrueRent seemed like the best.  

• They charged the least amount for applicant screenings.  The results were fast and easy to read. Applicants enter their own information. 
• Has an easy to use interface.
• Accepts and makes payments. 
• Tracks expenses and revenues at the unit level.
• Has tenant portal for rent payments, leases, work orders and messages. 
• Has PM and owner portals. 

 I can't hep but think of Lincoln Park Towing the Steve Goodman song "Lincoln Park Pirates"  yo ho tow them away, the Lincoln Park pirates are we, form Willmet to Gay, there's nothing so scary.....

In an urban area, it is understood that parking is at a premium and parking in an unauthorized area is at the offenders' risk of towing when the area is properly posted.  Usually those who pay for the parking and find their spot occupied will do the monitoring for you and call you when there is a problem, you don't need to be there to monitor.  You could issue some type of rear view mirror hang tag that identifies allowed vehicles, so that nobody is wondering if a vehicle is suppose to be there and would reduce calls to you.

If an occasional scofflaw get by and the tenants don't complain, what is the harm?   You can't have perfect compliance, unless you have a gated and monitored area.  Is the cost of installing any equipment and constant monitoring worth reducing occasional infractions?  Also guest parking is a amenity for your tenants. 

 If I was a tenant, getting out of my car to deal with any kind of apparatus daily would not be fun.  Also if it increased my rent to pay for a non-problem, I wouldn't like that either.

As far as retaliation, you should have insurance to cover any damages from vandalism.  

Might be one of those things that you remind people of and then enforce it.  If they retaliate, then why would you keep them as a tenant?  Maybe the tenant's who can't park because of the violators will appreciate your efforts. 

 I also ask for a description of tenants' vehicles, so I know who is parking where.  FWIW here is the language in my lease regarding parking in shared lots. 

Tenant will provide Landlord a description of each of Tenant’s vehicle and license plate number. Tenant may not park in any garage, covered structure, or areas consisting of common yards and shared driveways. Any parking that may be provided is strictly self-park and is at the Tenant’s or Tenant’s guest risk. Landlord is not responsible for, or assumes liability for damages caused by fire, theft, casualty or any other cause whatsoever with respect to any vehicle or its contents. Parking is intended for personal vehicles in working order, and not intended for storage and use of recreational vehicles or work equipment such as trailers, equipment used in construction, landscaping, farming, fishing, forestry, or other occupations, boats, campers, all-terrain vehicles, and snowmobiles, or non-operational vehicles. Non-operational and prohibited vehicles and equipment will be removed from the Premises by the Tenant within 30 days after notice to the Tenant. If the Tenant does not remove the vehicle within 30 days of notice, the vehicle or equipment will be removed to the city, county, or state designated vehicle impound lot at the Tenant’s expense. Recovery costs of vehicles and equipment are the sole responsibility of the Tenant.

Been having some talks with a friend who managed C and D class properties.  This friend's perspective on these tenants is that while most are decent, there are a lot of limitations dealing with them.  

His take is that these type of tenants won't understand and sign a lease that has too many occupancy expectations, and they won't apply for apartments, and pay rent on line.  My position is that having clear expectations demonstrates that I want to maintain a clean and respectful environment, and that online applications weed out the lower functioning tenants. 

What has been your experiences dealing with C Class tenants?  What are the special challenges you have with this demographic?

You are luck to have an agent that understands the complexity of employment law and taxes on top of insurance.  The point I am making is that employment law and taxes are complex, and relying on an insurance agent to provide you your only advice can have a downside.  Would you go to your payroll department and expect them to give you commercial insurance advice?  

 Do not expect an insurance agent to provide payroll and HR advice.  Until you learn what you need to do here, hire a payroll service, or payroll your crew through a temp agency that will have workers' comp insurance, etc.   

I agree that he likely has a bank account.  PopMoney is a way to transfer money from your account to his account.