All Forum Posts by: Roy Gutierrez

I have this dilemma right now, I have a rental in a nice middle class neighborhood, a 4/2 home, (Oak Park close to Berkley for the michiganders), probably can get $1,500 - $1,600 a month for rent, we are replacing the cabinets, granite and putting stainless steel appliances, the connection is for electric but have thought about putting a gas burner instead of electric, would you think it would be a good idea to turn it to gas? Rob K. , if you're familiar with the area what is your take on this? Also something to consider is for this type of home 90% of the applicants were families with kids.

Thanks.

Hi @Jon Holdman , lets say I have a tenant that began the lease in November, if the renter is working out I could ask the renter to cut the original short and sign a new one around a good month for the area and if the renter agrees then good to go, so with these you have some control it seems to me unless I'm missing something.

Thanks guys, very good input!

Thanks Jonathan, so I'm using you as a guinea pig @Jonathan Lewis

George, hard not to be cheap when no more money to spend! I would only buy washer/dryer from CL, bought for myself and my rental until, $400 total for 4 and all work like a charm for 2 years so far. I'll use the money I saved from that to buy a nice new refrigerator/range instead, a CL washer/dryer could go in the first month but for that price definitely worth taking the chance. But I think you're right, I'm cheap, I was just in Sears Outlet and I tried to get free shipping and walked out b/c I didn't get it lol, at least now I can comparison shop!

Does anyone use a maintenance plan? around here you pay from 10/25 dollars a month to cover appliances/furnace/ac, etc

Thanks for the advice!

Thanks everyone,

Lynn, as far as the security deposit, if one leaves but then the others find someone else to replace him, I guess you can do an amendment to the contract to exclude the one that left, put in the new one, refund the money to the one that left and get a new portion from the new one, correct?

Thanks Aaron, I'll look into that website, my first renter recommended to deposit his payment into my account (what an amazing renter!) and since then I put it into my lease that I need the payment electronically transferred to my account a certain day of the month.

How do you guys make a person's name with link appear? Rolanda, I haven't been charging an application fee, I guess depends on the market, but maybe I should start, this is when I have 0 business mentality... Robert, seems the same here in Michigan, but what do I know, I have had to rent only 3 times so far, 2 in May with a decent demand and one in winter with kind of the same demand, although the one in winter was in a more desirable area though.

I see, any special wording in the contract? Anything special that you have to do when one of the roommates leaves?

Thanks.

Bless your hart Rolanda, you made your life easier! One of them I was considering no washer/dryer but I already put my foot in my mouth! Maybe I'm unlucky I've have yet to see an appliance discounted b/c of a dent/scratch at lowes/HD, I know they have them from time to time but they seem to hide them when I'm there!

I'm considering renting to 3 young professional guys, before I've only rented to families so what was wondering the logistics of this situation. All 3 will be on the lease, in terms of payment I would like to designate 1 person that I need to receive a check from? Or should I be collecting 3 checks for legal reasons? What else should I be watching out for?

Thanks!