All Forum Posts by: Malkia Ra

Yep, shut off the main water supply and (in winter) open all faucets.  I've never touched the water heater though.

Lowering the rent typically works; however I've found it also attracts more unqualified tenants.

My leases are always month-to-month.  Not a fan of long leases.

I've had a couple strange inquiries come through AirBNB recently.

One was from a woman who wanted to rent my place for 3+ months, only paying one month at a time, and requested that I block off future months so that no one else could book my rental.

Another was from a gentleman who identified himself as a traveling medical professional and wanted to book my rental outside of AirBNB, then reveals how he's cash-strapped because of a family matter, yada yada...

I declined both.

It's best practice to get in the habit of shutting off the main water supply before leaving your home for an extended period of time, no matter the time of year.  I had the unfortunate experience of living in a townhome next to a neighbor who's pipes burst while they were away.  A major inconvenience for me, a total loss for them.  I learned the lesson then.

In my experience, if a builder can cut corners, he will; it sounds like the builder hadn't insulated the pipes/used adequate insulation within the drywall on the exterior wall.  Doesn't surprise me, I've uncovered some of the sloppiest builder-work over the years while gutting/rehabbing.

Do you have a PM managing the property?  They should be sorting this out for you.

Junk haulers are more costly, IMO.  I'd suggest going the dumpster route.

That number is ridiculously high for a clean-out only.  Considering the property manager didn't provide you with any of the third party documentation, I'd say those numbers were definitely inflated.  Not to mention, there should be regular inspections done on your rentals.  The lease should indicate this.  Considering the tenant's living conditions, it certainly sounds like no one dropped by to evaluate the condition of your rental in years.  Lastly, what's in your agreement with them regarding maximum dollar amount for expenditures?  A PM having the autonomy to rack up a $5k bill without prior approval sounds suspect, unless you ok'd this in your contract.

If I were in your position I'd require the PM to provide me with backup invoices confirming their numbers; their response would determine whether or not I'd continue to retain them.  Additionally, I'd revise my lease template to include regular dwelling inspections.

3 bedrooms and the highest rental is $900 a month?  Sheesh!  

Your tenants are all well aware they're paying WAY BELOW market rate rent.  If you choose to renovate, do it because it's necessary, not because you want to soften the blow of a rent increase.  Take the emotion out of it and send each tenant a certified letter informing them of the increase.  Landlording is a business; you didn't get into this to be Mother Teresa.

I understand this may be easier said than done; therefore in your case it's probably in your best interest to hire a property management company if you find yourself unable to separate your personal feelings from the business.

Sounds like grounds for eviction to me.  Or, you can allow the tenant to stay until their lease is up and possibly deduct the pet fee from their security deposit.  Always best to have a discussion with an attorney first before proceeding.

I can't stress enough how having high application/screening standards (and a solid pre-screening method) will often deter bad tenants.  In my experience, bad tenants LOVE landlords who (1.) aren't strict and consistent across the board with their screening parameters, (2.) fall for excuses, like their unfortunate bad luck/life story, or superficial things, like how well they dress or speak, etc., and (3.) choose to rent quickly to the first person with $$$, rather than take their time to select the most qualified candidate even if it means having a lengthy vacancy.

If you choose to self manage, you will need to know the landlord tenant laws in whatever jurisdiction you choose to invest, and have the backbone for this; otherwise, research and hire a top-notch management company to do this for you.

I personally choose to self manage (small portfolio) and keep a stellar eviction attorney on retainer for all the reasons @Greg Scott mentioned.

Good luck!

 

Interesting. In a tenant-friendly jurisdiction such as Texas, why put up with a nonpaying tenant for longer than you have to?