All Forum Posts by: Nathan Gesner

I suggest you give them 30 days notice to vacate (or whatever you are required in your area) and then go clean/renovate the place and start over. If they've lived there for any length of time, it will be difficult to get them to break the habit, even with a written agreement. And if the unit already smells of smoke, how will you prove if they are still smoking inside or not.

Run it like a business and do what you have to do to protect your investment. That doesn't mean you have to be heartless. If your market is tough and they need 60 days to find a suitable place to live, give them the extra time. But stand firm on your desire to move them out, clean/renovate the unit, and start fresh.

Rather than tear everything down and change the locks, he should have documented and filed for a legal eviction based on a violation of the lease which clearly states the tenants are not allowed to make alterations. I assume his lease probably addresses sub-leasing, as well.

He has a good case but it will take a while for him to follow the legal process and get these parasites out of his home. In the end, his attempt at self-help eviction will cost him a lot more than if he had done it the right way in the first place. At least he caught it early.

Not an attorney. However, you failed to enforce the payment of late fees at the time they were due. The next month, you accepted rent and failed to enforce the late fee. I suspect a court of law would consider that a waiver and forgive your tenant the debt.

You said you didn't receive a deposit as part of the inheritance, so that means you don't have any money to withhold. Your only course of action is to take the tenant to court. Again, I'm not an attorney but I would recommend you let it go because there is a good chance you could lose. That will cost you a lot of time and extra money.

@Jerry W. I agree that the Wyoming market is getting hit. I don't think most people even realize it yet and more is to come. Rent rates were increasingly quickly in 2013 - 2014 but this year I had to lower rents on quite a few places and some rentals (primarily houses) are sitting on the market for the first time ever. I used to have new renters under contract before the old renter vacated about 80% of the time and vacancies were under two weeks for my hard-to-rent units. Now I have nice places that are sitting vacant for up to two months, even with price reductions.

I don't know how many jobs were lost because many lived here but actually worked in other parts of the country. I just know it's significant enough to hit our rental market and I don't suspect it will be like this for a while.

Try looking at www.narpm.org and search their directory. You want to look for members that have the RMP (Residential Management Professional) or MPM (Master Property Manager) designations because those have the most experience, training, and qualifications. If nothing else, set up a time to visit with one of these and compare them to other recommended managers to see who fits you best. I always recommend talking to 2-3 different management companies, review their documents and forms, ask questions about how they handle various problems, etc.

A wise Landlord will spend far more time finding a property manager than they will screening for tenants!

Is it over-reaching? It is in my opinion, but my opinion (and yours) doesn't determine how an HOA operates. If the HOA puts this to a vote and the membership approves it, it will become law and you have to abide by it. I manage an HOA that does not allow pets, to include indoor pets like cats. If you don't want your HOA sticking their nose inside your door, I recommend you start contacting the neighbors to raise awareness and fight this before it is too late.

I get a ton of referrals for tenants, but I am the one doing the showings, screening, putting them under contract, etc. So all the agent has done is give them my contact information. I don't see that as worthy of compensation. I refer people to restaurants, mechanics, and lots of other places and never expect compensation.

Now there is a large percentage of property managers that will pay a referral. However, they usually charge owners a "Leasing Fee" of up to one month's rent and then they use that money to compensate agents that bring them renters. And those agents probably have some increased responsibilities like pre-screening the applicant, showing the property, explaining policies, etc.

As a private Landlord, I would consider sending them a small gift card of $25 to Starbucks or Amazon. Maybe after X referrals you can give them something substantial like $100. Keep in mind, individual agents are NOT supposed to collect any compensation. All compensation is supposed to go to their Broker and then it is passed on to the Agent based on their compensation agreement with the Broker. Small amounts can go right to the Agent, but anything over $50 and you should probably ask the Agent if payment needs to go through the Broker.

By the way, it is also important to know whether Fair Housing Law or other local regulations even apply to your type of housing. For example, Fair Housing would not apply to a four-plex that is managed by the owner or a single-family home sold or rented without a Broker. Learn more HERE.

I'm not an attorney or expert on your state/municipal codes.

Your local regulations may require you to accept Section 8. However, they still have to meet all your criteria. In other words, if you require Landlord references for the last 12 months, they must provide that or they will be denied. The key is to have standards in place, preferably in writing, and that you apply those equally to every applicant.

In my case, applicants must show proof of income before I will process their application. If they have not applied for Section 8 and been approved, I can't approve their rental application. I also will not "hold" a property off the market for a renter unless they put the security deposit down in full, which most Section 8 applicants cannot afford. Even if the do put the deposit down, it may take a month or longer to complete the Section 8 process and be able to afford rent. I will not hold a property off the market for that long while they process paperwork. My policy is that they put the deposit down within 24 hours and then they have to start paying rent within one week. That eliminates almost every Section 8 applicant.

Your best bet is to talk with the local housing authority or an attorney. Get the requirements, develop a policy, and put it in writing.

Yes, you should include any utilities used by the tenant. I manage an 8-plex where all the utilities where on single meters. The owner was slightly below market value for his rent AND he was not charging for utility use. I contacted the utility company and had the utilities placed on "Equal Billing" where they charge a set amount each month based on historical use. Then I split that amount by the number of units and added it to their monthly rent. Not a single tenant complained, the owner is earning nearly $8,000 more a year (after paying my management fees), and billing is a whole lot easier.