All Forum Posts by: Natalie Schanne

Tony Velez - Nice thread you've got going. Venmo deactivated my account after stating that I used it for business purposes and I wasn't able to contest with a real person or get it reactivated. (I didn't lose any $$ though). Before then it worked great for rent. I still use PayPal which is free if and only if they select Friend to Friend and Bank Account transfer. If your tenant pays with her bank account but calls rent a good or service, you'll see the 2.9%+.3 deducted.

@Raj G. - Best way to get a good deal is to get 3-5 bids. You can get remote bids if you know how to measure it yourself and send specs to installers. If you think you might botch the measurements, get one or more professional companies to come out and measure, give you a bid, then use the measurements to get more bids. The more bids you get, the more you'll understand what the outliers are. i.e. Don't pay $12000 just for granite counter tops. Home Depot and Lowes provide some good starting points and/or free design advice, but your best deals may be found elsewhere.

Jackson Long Vistaprint will also do ultra thick cards. They usually have extra coupons you can find from affiliate pages.

Ibn Abney - I think you get back less than 100%, more like 70-80% for new appliances. Unless the whole kitchen is brand new with manuals and new tags for a flip. I know how easy and tempting it is to get them all delivered from Home Depot, Lowes or Sears. I always look for deals. I picked up a like new $1200 refrigerator (large, ice maker, water dispenser) for $200 on Craigslist, along with the rest of the appliances in a kitchen a lady was remodeling for 20-30% of cost. My kitchen looks great and that purchase increased my home value by $600-1000. (I itemized it at retail value on a list I gave the appraiser for a refi.)

@Nick M. - If you're thinking about New Jersey residential areas commuting to New York City jobs, you'll probably see good cash flow and appreciation on small multifamily properties (2-4 units w/ conventional financing) near to transit hubs like light rail / train stations.

I met with the owner of large scale apartment properties in Port Imperial, and that business was crushing it.

@Kim Meredith Hampton - Thank you for your experience. I don't think I'll try to dock her security deposit upon move-out for any previously delayed rent. I won't be lenient with "accepting payment" without the late fees going forward. After I sent the letter this morning, I was paid about 60% of the balance due for March today. I informed her that any payments summing to less than the balance would not be considered "in full" and late fees would continue to accrue until it was paid in full. Her 5 day notice to pay rent or quit the premises ends on Thursday.

@Account Closed - I guess it all depends if in your CA leases your late fees are noted as additional rent or not. I was not suggesting that I touch the "security deposit escrow account" before move-out. I was trying to see if there's justification for adding accrued late fees as additional unpaid rent against her security deposit on move-out.

I'm assuming she'll move out soon, which is OK because the rental demand is much better now that it's Spring. In the past when I've had a late-paying tenant, within a short period she's vacated willingly. I've encouraged this tenant to find a more affordable place to stay if she couldn't pay the rent, but then she's always paid it a few days later.

I made the mistake of not clearly setting my expectations the first time rent was late, and I think I've been made a lower priority than other bills.  Lessons learned!

@Sovat C. - My rental agreement states the term i.e. 4/1/17 - 6/30/17 then states 30 day notice must be given and it auto-rolls over to month to month agreement. If it's working out and she wants to continue, why not? Otherwise, 30 days before the end, she needs to give you notice (or you need to give her notice). Obviously you can give notice at any time for breaking your lease's rules.

Depending on what you own, you probably don't fall under Maryland's official Landlord Tenant laws. I don't fall under Virginia's. I've never had to evict someone renting a bedroom - they've all left willingly - so I don't know how it would proceed in court. If the person was stealing from you or damaging things in your house while not paying rent, I think you would be within your rights to change the locks. I bought a Schlage Keypad lock to change the front door codes when a tenant leaves. I've never locked anyone out (which is generally a severe no no).

@Sovat C. - I would accept her if she's moving in asap, you are OK with her personality in person, and you have no other leads. I take interns for bedrooms in my house hack all the time without checking credit. Make sure any rules on overnight guests are clear. (I don't allow any.) Make it clear you'll start advertising and showing the room for rent in 60 days (30 days before she moves out).

Make sure you have a backup plan (sufficient security deposit) if she doesn't move out after 3 months but stops paying.

It happened again. My tenant hasn't paid yet. I should have expected it, but she said she'd pay today and she didn't. So far, she's paid on the day she said she would, usually 3 to 10 days past the first. She's been renting for a year and is now month to month. I'm planning to serve her a 5 day notice to pay rent or quit (for the first time) according to Virginia state laws. Assuming she continues to not pay and either she moves out willingly or I have to evict her...

Can I charge against a security deposit for accumulated late fees that have not been paid? 

Since I have less than 2 SFRs, I am not governed by Landlord Tenant Law. The accumulated late fees would be about $600 for 30 days. She has been paying rent late for several months. The rental agreement she signed says "A late fee of $20 per day shall be added and due for any payment of rent made after the 1st of the month." She has not been paying the late fee along with her rent payments. I have informed her multiple times that $20/day additional is due, but only her rent amount is deposited to the bank. (I don't deposit a check, she transfers it bank to bank). I have not sent her specific written late fee invoices after just the rent was received. I know she has collectors after her for medical bills. I have not noticed significant damage to the property, so most of her security deposit would be returned if I did not dock her for the late rent payments. I have not yet been to court for an eviction - any problem tenants have moved out willingly and have never contested my keeping of most of the deposit for itemized repairs. Thank you for any insights!

@Lou Ruggieri - That's the kicker right? If he's reasonably priced, someone's got him working 24/7 on a flip. 

I've been successful hiring (and supervising) skilled workers for a multitude of tasks directly from Craigslist. I'm very specific with what I need done and offer a fixed price. If the person works out, I hire him again. Most people aren't great at everything. You can also try Angie's List and HomeAdvisor. Always ask after a pause - "Are you sure this is your best price?"