All Forum Posts by: Nancy P.

I think credit scores are ********.  For example:  we own six properties outright and have five mortgages.  Credit cards paid every month.  No car loans.  100% perfect payment records over our entire 40 year adult lives. W-2 income all in is over $250K not including perks like car, rent, gasoline as we are on overseas assignment.    But since we bought 3 properties last year,  that's "too many recent credit accounts open"  and my husband's score is only 718 which throws our interest rates up a full point on new loans. I look at the full report,  and low scores for my tenant base usually reflect their age more than anything else.  If they haven't had any issues for the last two years and they can prove their income,  I'm cool.  I did turn down a guy last week whose score was 692 despite apparently having two cars repo'd,  three accounts closed with the notation "customer disagrees" and he also had a conviction for driving without insurance.  How the HELL is his score so close to my husband's?  It makes no sense.

HD Allure looks like new after four years and two sets of tenants.  First tenant had two cats.

Based on other posts these tenants have given you trouble from the first moment you closed on the place.  Evict.  They are seeing what they can get away with and I will bet you $100 they will not move out on time unless you move forward.

One association replaces windows and doors,  (2 units).    All do roofs,  walls, exterior stuff,  and are insured to rebuild back to drywall if place is burned or gets taken down by a tornado or something.  (assuming fire isn't your fault).  They take care of nothing on the inside,  but roofs and foundations are a decent part of capex.  They maintain the lawns, (not just mowing and snow removal,  but replace dead plants or trees as needed)  the common parking areas,  common inside areas,  pay for electricity to light the outsides,  one condo has elevators so they maintain those,  stairwells,  anything up to your wall and all common areas.   All of mine pay sewer and water,   most also provide trash dumpster that they pay for. They do NOT fix your toilet or anything inside your property.

Eight of our ten properties are condos.  With a super busy W-2 job my husband preferred the maintenance being done by others.  They have appreciated well,  we might be in a unique situation being in an excellent school system in a high income area---condos are how people get into the school system.  They're up 50% or more over 9 years but then we bought most as foreclosures.  But not only be very sure what the rental rules are,   ask around about the association.  There are some nut job boards and some outright thieves.  We had a second home in Utah and they basically stole $300K from a 78 unit building.  (We got out right before that hit the fan,  I knew something was up but couldn't prove it.)    I wouldn't go with a small association again---too many money problems.  And if you can get a tenant to agree to a rent increase in a non-MTM lease with 30 days notice,  let me know how you managed it!

Yes.  A lease is between the owner and the tenant.  In this case,  YOU are now the owner whereas it was someone else before May 31.  You, as the owner have to honor the lease until it ends July 31.  You can't raise rents, etc.  You do NOT have to honor promises made between old owner and the tenants that you did not know about.  (reduced rent).  Who the PM is matters not at all,  he or she is just acting in your place and enforcing the lease.  If they haven't paid all of June yet,  I'd start eviction.  They are being jerks.

You misunderstood my post.  Your post said only a dog or miniature horse can be a service animal.  That's true in a case of who a hotel or store has to allow in.  I'm saying as far as the ADA is concerned,  several other animals are service animals.  You couldn't deny the Capuchin monkey who can make a sandwich for the paraplegic tenant,  for example.

@ Tim Miller:

The horse and dog thing is about public accommodation. Doesn't apply to leasing.  I know two trained Capuchin monkey service animals.  Have heard about birds and wolves,  too.

A process has to be gone through on any eviction.  Read the link provided above.  And do move out ASAP.  Crazy landlord is never good.  And next time LEASE IN WRITING.

We own properties that share a wall with a garage (not belonging to tenants).  What Cody Timmers suggested has worked quite well.  Tenants don't hear the cars or the door to the garage.