All Forum Posts by: Matt Clark

Among other things, you'll need move-in and move-out procedures and checklists, with things like:

-standard order of tenant files

-inspection/documentation procedures

-transfer of utilities

-new resident orientation

-collection/disbursement of funds

In Virginia we are required by law to provide the tenant with a list of charges that we are subtracting from their security deposit.  In order to make that list I always get invoices from anyone working on the repairs/cleaning.  Or if it is our staff I retain time and expense records in case it's ever challenged.  The pictures you took will be very useful in the event the tenants challenge the charges.

Hopefully someone from NJ can weigh in with your state specifics...

Good luck!

That's tricky.  It sounds like you definitely need heat in there, maybe electric baseboard heaters for ease of operation?  But who pays for the electricity?  Presuming there are only two meters, and presuming the tenants pay their own electric bill, how would you pick the lucky one who gets to pay for the shared space?

Perhaps you could offer a small rent adjustment to compensate?

Hello BP'ers!

Please join us for the monthly Roanoke Real Estate Master Mind meetup next Wednesday, August 26 at 7:00pm.  This meeting is open to anyone working, living, or investing in Roanoke, Salem, Vinton, and surrounding localities.

We'll be meeting at the Grandin Colab, please join us and bring a guest.  We'll have our normal roundtable discussion, and will also be brainstorming about educational components for upcoming meetings.

See you soon!

Jessica,

As far as I know, you can set the rental rate at any point you choose, with no rationale required.  Your renewal letter just states what the renewal rate will be, although many people also include the reasoning behind the raise (to reflect rental increases in the local market, increased operational expenses, etc.).

As you've learned, special deals for friends rarely work out well in the long run.  If I were in your shoes I would raise the rent to market value and see what happens.

Best wishes!

Hi @Makenzi Kurvits-Statum; welcome to the community!  I'm also in Roanoke, and we have a Meetup scheduled for 08/26/15, 7:00 pm at the Grandin CoLab.  I hope you can join us!

I would pay for an evaluation of the current system by another reputable contractor. Something doesn't make sense in this scenario. 

Certainly there may be some legal element that I'm lot aware of, but I often email them a copy, have them sign it and mail it back. I do agree @Richard Henry, best to let them sign it first. Then when you get it back you can confirm that there have been no alterations before signing it yourself. 

I would just be glad they are moving, wait until they are out, make-ready aggressively, and then market it aggressively. Trying to argue over dates would be counterproductive in my opinion. At this point you know they are leaving soon, and the happier they are when they leave, the better shape your property will be in. 

I think you could say with certainty that the bedbugs didn't go spreading through the neighborhood. 

Sounds like the neighbor will probably continue to "bug" you, but just don't let her rattle you. When she doesn't get a reaction from you she will probably start focusing her attention elsewhere. Or at least we hope so!