All Forum Posts by: Account Closed

I'm not in New Mexico, but I've never heard of a landlord being required to pay the utilities. I'm sure it means that you just need to have those things in working order.

It really depends on what the rent is. If it is $500 per month, then definitely make sure income is 3X rent. But, if rent is $2500 per month, 2X rent is plenty. Michelle

Hi Steve. I would ease up on the 3X rule for them. 2 to 2.5 should be fine, as long as their background checks come back ok. Michelle

I would definitely post a pay or quit notice immediately. Then you at least have options if they aren't gone soon. Hopefully they will be out before it even expires. When you post the notice, tell them that they owe money for every day that they stay. That should motivate them to move quicker.

Other than a couple of tenants that I've had for a while, everyone pays me electronically. I always get my money on the first. So, there are never late fees. Some ok'd having the rent automatically deducted from their account every month thru erentpayment, others pay me thru PayPal. Either way, I get paid on time. I highly recommend it.

You can try using a heat gun to loosen up the paint and then take a putty knife and pry the paint away from the floor. Use caution and avoid excessive heat on your hardwood floors which can be damaging.

After making sure they are tenants you want to keep, I would have the month to month people sign a lease, or at least a new monthly rental agreement. The original one they signed is probably outdated and missing a lot of things. I agree with Bill Gulley, make sure they are paying close to market value. Since their lease expired in 2009 I bet they are paying way less than they should. It may be time to fix that.

Luckily I've never had this happen to me, but great info just in case. Thanks, Scott.

"Definitely plumbing is the most common issue for me, followed by
snow removal. I look forward to the day I can be a landlord in a
location where it does not snow."

Dan C. Hi Dan. I have houses in a mountain town that gets snow. I have in my lease that tenants are responsible for their own snow removal. I have never had a call about it, ever. But, I was just thinking, you may have apartments. That would be a different story.

Hi Richard. I would suggest that you hire a property manager in your area. There are so many regulations that you may not be aware of. A good property manager can keep you out of trouble and probably save you a lot of money in the long run, by doing all the proper background checks and getting good tenants in there quickly. Michelle