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All Forum Posts by: Wesley W.

Wesley W. has started 112 posts and replied 1860 times.

Post: Renting to applicants under 21

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325

@Andrew Syrios @Nathan Gesner

Unfortunately,  in NYS we are forbidden from taking any advance or deposit greater than one month's rent, so I cannot mitigate the risk in that way.

Additionally, they have never rented before, so do not have any rental references. 

I appreciate your input.  I am really on the fence about these applicants, and I resent the legislature for leaving me without a means to offset the business risk I would be taking. 

Post: Renting to applicants under 21

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325

Hey, folks.  I'm looking for feedback based on your experiencewith renting to prospective tenants that are under 21.

Some context:  I am trying to fill a vacancy in one of my rental units and I am having a hard time finding the people that USED to apply for my apartments.  Apparently, all those people "moved up" with all this extra cash floating around, so it looks like I am dealing with a tier lower than what I am used to.  Consequently, it's taking quite a bit more inquiries before I find a good candidate these days.  This is a small multi-family dwelling in a B/C neighborhood; it is not student housing.

At the risk of sounding like I am rationalizing because of the above, I had a young couple (both aged 20) that came and looked at the apartment today.  She is a full time nursing student, and he works blue collar for a major worldwide company.  He more than makes enough income to qualify for my conservative "4 times monthly rent" income requirement.  He's been employed there for a year and has recently gotten a promotion.  They both have credit scores above 600 and this would be their first apartment together, as well as first place apart from living with family.  I've done a cursory peak at social media and do not see anything concerning.

I have come up with some things that worry me, but honestly it's not based on any empirical evidence as I have never rented to people so young.  Here are my (thus far unsubstantiated) concerns:  (1) once they turn 21 there will be irresponsible use of alcohol involving visitors to my property; (2)  they are too immature to respect other peoples' property and will not take care of the apartment; (3) when they break up in 3 months, I'll be back to square one - this time in the dead of winter.

I could do a guarantor, but here in NYS we cannot collect any additional deposit beyond one month's rent, so I would have another person to seek damages from, but they would not have any monetary "skin in the game." 

Here's my question -  if you HAVE rented to youngsters, what has been your experience?  Are my stereotypes valid?  If you HAVE NOT rented to folks under 21, would you?  Why or why not?

Thanks in advance for your collective input.

Post: Rent Increases for existing tenants

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325
Quote from @Brick Biermann:
Quote from @Carlton B.:

Honestly you are probably a small fish in a big pond. Like most regulations/ordinances they are there for people who are abusing the system. I would give everyone a decent notice so if they can't afford they can move, but if you are a competive landlord they will not move. This should have been first but just call your local housing authority and ask how much you can raise the rent.


That's a good point, Jersey City is fairly big city and would likely be more concerned with the "bigger fish". Even at market rates I believe my location and amenities are still very competitive and would be surprised if they could find a better deal. Appreciate the advice.


 Be careful about falling into this trap.  In many of these "liberal strongholds", most tenants are educated (if not coached) by tenant rights groups on how to hold property owners to the letter of the draconian law.  Do not assume that, since you are the "small guy", that you will be flying under the radar.  The city probably doesn't do it's own checks, it responds to a tenant's complaint.  Conversely, I would posit that a tenant would be more aggressive with the small guy, since the preception is that the large operators would have an attorney on retainer that would ensure the lessor is in compliance.

Additionally, I would vote with your wallet, and invest where equitable contracts are respected and upheld by the legislative body.  Move your money where it'll be treated best.

Good luck!

Post: Vacated tenants demanding access to get their own repair estimate on damaged item

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
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I always send the return of security deposit/invoice/pics via certified mail.  I once had this packet lost via First Class Mail and it really extended being disentangled from a difficult tenant.

Regarding the forwarding address, I would do as you intend - send it to their last know address - your property.  To be extra sure, send it certified and first class (1 copy each).  Then, save the unopened first class mailing that arrives, as well as your tracking number and receipt for the certified mailing.

Check your local laws, but here is a provision in my lease written by an attorney in my state that clarifies this kind of muddiness:

D. We agree to mail the balance of the Security Deposit owing to you at the address provided by you or to your last known mailing address within fourteen (14) days from the date you completely vacate the Rental Unit. However, as long as we mail the Security Deposit to you within fourteen (14) days, in the event that, for reason beyond our control, including you failing to provide a forwarding address, the Security Deposit cannot be returned within said period, you agree that in no event shall we be liable for any damages to you of any nature as a result of said delay. Additionally, the additional expenses required to re-issue your deposit, if applicable, shall be your sole responsibility.

NOTE:  The 14 days is state statute here in the People's Republic of New York.

Post: What pet fees are typical?

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325

One time fee of $200 per animal, then $20/mo. per animal.  The complexes around here charge $350/$35 and they get it.

Post: Best routine maintenance recommendations between tenants??

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325

Here's my checklist.  Sorry for the formatting.  I am not sure how to upload this as a file (or if I have that ability w/o a Pro Account).

Turnover Cleaning Checklist

General Maintenance UNIT #:

Change locks

Contact utility company

Tighten/adjust all door hinges/locks

Check all door stops

Replace batteries in ALL smoke/CO detectors

Master Bedroom

Remove everything left behind. Double check closets/closet shelves

Remove dust bunnies from ceiling/corners with duster

Replace any burned out light bulbs

Remove markings from walls [To remove pencil, use dish soap and water. Removing ink requires dabbing with alcohol or hand sanitizer. Crayon may be removed by Mr. Clean’s Magic Eraser.]

Dust ceiling fan blades

Dust door, window and floor trim

Check/dust/vacuum window blinds

Wash walls with dish soap and warm water

Wipe light switch plate and door handles

Wash windows, check screens & latches

Test all outlets for polarity

Begin PAINT PREP sequence if necessary

Sweep floors

Spare Bedroom(s)

Remove everything left behind. Double check closets/closet shelves

Remove dust bunnies from ceiling/corners with duster

Replace any burned out light bulbs

Remove markings from walls [To remove pencil, use dish soap and water. Removing ink requires dabbing with alcohol or hand sanitizer. Crayon may be removed by Mr. Clean’s Magic Eraser.]

Dust ceiling fan blades

Dust door, window and floor trim

Check/dust/vacuum window blinds

Wash walls with dish soap and warm water

Wipe light switch plate and door handles

Wash windows, check screens & latches

Test all outlets for polarity

Begin PAINT PREP sequence if necessary

Sweep floors

Bathroom

Remove dust bunnies from ceiling/corners with duster

Replace any burned out light bulbs

Install low-flow shower head

Turn the sink and tub/shower faucet to the hottest setting and run for one minute

Put a generous amount of toilet cleaner into toilet bowl. Let sit while you clean the drains

Pour 1/2 cup baking soda down each drain. Follow with 1/2 cup white vinegar. Let sit 5 minutes then run hottest water again for 30 seconds to completely clear out drain.

Clean toilet with toilet brush

Clean shower walls

Spray mirror with glass cleaner

Wipe down shower. Recaulk if necessary

Wipe down outside of toilet with cleaning wipes

Clean faucet and sink with soft scrub

Clean exhaust fan grill

Check/dust/vacuum window blinds

Wash walls with dish soap and water

Wipe light switch plate and door handles

Wash windows, check screens & latches

Test all outlets for polarity

Begin PAINT PREP sequence if necessary

Sweep/mop floor

Living Room

Remove everything left behind. Double check closets/closet shelves

Remove dust bunnies from ceiling/corners with duster

Replace any burned out light bulbs

Remove markings from walls [To remove pencil, use dish soap and water. Removing ink requires dabbing with alcohol or hand sanitizer. Crayon may be removed by Mr. Clean’s Magic Eraser.]

Dust ceiling fan blades

Dust door, window and floor trim

Check/dust/vacuum window blinds

Wash walls with dish soap and warm water

Wipe light switch plate and door handles

Wash windows, check screens & latches

Test all outlets for polarity

Test heater

Begin PAINT PREP sequence if necessary

Sweep floors

Kitchen

Remove dust bunnies from ceiling/corners with duster

Replace any burned out light bulbs

Dust ceiling fan blades

Remove all items from cabinets/refrigerator/freezer

Wipe inside of cabinets

Clean/dust top of refrigerator

Wipe down interior/exterior of refrigerator/freezer

Vacuum refrigerator coils

Wipe down cabinet fronts

Clean stovetop

Clean oven

Clean microwave

Turn the sink faucet to hottest setting for one minute. Pour 1/2 cup baking soda down each drain. Follow with 1/2 cup white vinegar. Let sit 5 minutes then run hottest water again for 30 seconds.

Clean faucet and sink with soft scrub

Clean countertops

Dust door, window and floor trim

Check/dust/vacuum window blinds

Wash walls with dish soap and water

Wipe light switch plate and door handles

Wipe down backsplash

Wash windows, check screens & latches

Test all outlets for polarity

Begin PAINT PREP sequence if necessary

Sweep/mop floor

Turn on all the appliances to double check that they are all in working order

Check fire extinguisher

Entry / Lobby

Remove dust bunnies from ceiling/corners with duster

Replace any burned out light bulbs

Remove markings from walls [To remove pencil, use dish soap and water. Removing ink requires dabbing with alcohol or hand sanitizer. Crayon may be removed by Mr. Clean’s Magic Eraser.]

Dust door, window and floor trim

Wash walls with dish soap and warm water

Wipe light switch plate and door handles

Wash windows, check screens & latches

Test all outlets for polarity

Begin PAINT PREP sequence if necessary

Sweep floor

Check doorbell

Exterior

Mow lawn

Pull weeds

Trim bushes/trees

Sweep the walkways/porch/driveway/sidewalk

Replace any burned out light bulbs

Check recycle bin / trash container

Begin PAINT PREP sequence if necessary

Post: How to charge for water-damaged Pergo laminate flooring

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325

Thanks to @Nathan Gesner @JD Martin for the formulae for the bill back.

And yes, I agree with you JD - I've also switched over to vinyl for exactly the reasons you state, but this unit was at the tail end of the "Pergo era."

@Bill B. I'm in NY (maybe only NYers know it as The Vampire State,a play on it's traditional moniker), so there are legislative hurdles to what you all are suggesting.  We only have 14 days to return the security deposit, so it's difficult to line up the trades to get estimates on this kind of work in that amount of time.  I can assure you the dearth of the work force everyone is experiencing is an order of magnitude higher here.

The materials would be about $100, so the labor would put this particular repair in the "going to take my landlord to court" level.  Given there are other repairs to charge back, I've resigned myself that I'll be explaining this to a judge at some point, which is why I came here for feedback on the charge.

I think I've got the game plan now.  I appreciate everyone's input.

Post: How to charge for water-damaged Pergo laminate flooring

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325
Quote from @Theresa Harris:
Quote from @Wesley W.:
Quote from @Richard F.:

Aloha,

You do not state where the damage was...kitchen? living room? Have you ruled out seepage from a slow leak from a water heater, or pinhole leak? If this was a long term slow event, not all Tenants would be observant enough to notice and report.

At best, you might be allowed to consider replacement of the one room, based on depreciated value. Styles and Dye Lots change often, which needs to be considered when purchasing. Always get extra..."in case".

 It's in a bedroom, caused by the placement of a dog's water dish.  Truth be told, I have some extra planks, not sure if I have enough to replace all of the damaged ones, but in this case it's not a "dye lot" thing - the style/pattern of the planks are no longer made by the manufacturer.

The cost for replacing the one room would far exceed the tenant's security deposit.  I'm just not sure a NY judge would agree that replacing the entire floor would be justified.


 Any chance you can 'borrow' some from a closet or under a fridge or stove and replace those with a similar colour? That way the mismatched ones won't be as visible.


 I love the creativity, but I am afraid the "juice would not be worth the squeeze."

What I'm really trying is to be compensated for the shortened life of the floor to offset the cost of a new floor in the next handful of years when the seams begin to chip and the whole thing will need to be replaced.  How do I calculate the charge and be able to justify it to a judge?

Post: How to charge for water-damaged Pergo laminate flooring

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325
Quote from @Scott Mac:

If you had used Vinyl Sheet flooring in the bathroom, going 3 inches up the walls with a metal top cap on the edges--you would not be having this problem.

If you put hard to fix, delicate things in a rental you are probably going to have issues down the road.

Maybe to be competitive you need to use a different type of floor, but finding something waterproof for a bathroom--that can be fixed easier, seems like a good move.

I mean if a water from a dog dish in a bathroom ruins the floor--that (to me) seems too delicate for that area.


Okay, so, Scott - it looks like you are "barking up the wrong tree" (see what I did, there?) - since in my post I explained the dog dish was in a BEDROOM

Obi Wan must have been waving his fingers in front of your nose when you were constructing your response.

Post: How to charge for water-damaged Pergo laminate flooring

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,895
  • Votes 2,325

Thanks to those that are offering constructive suggestions and feedback.

@Nathan Gesner  the spot is actually in a high traffic area right in the doorway between the living room and this bedroom (same continuous sheet of planks).  It is indeed next to a wall/doorway, but that wall unfortunately contacts the SHORT ends of the planks, so unless I am going to cut away some tongues on the planks, I need to go to the nearest wall that parallels the long ends.  But yeah, I'm picking up what you're putting down - charge for the planks and labor - HOWEVER those style planks are no longer available, so I am not able to have the work done, apart from replacing the entire floor.  That was really the issue from my OP.  How do I charge for "depreciated life" of the floor if I am not able to repair the area?