All Forum Posts by: Ned J.

Following....... very interested in your experience

Wow....this charges are ridiculous..... when I see that type of stuff I truly think the PM is "fishing" and hoping that the tenant will just concede since some may think they have no rights and wont put out the effort to fight the charges.

I had a landlord do the same to me when I was a renter..... I cleaned the place top to bottom...he inspected with me present, found a few things that I cleaned some more.....and then tried to keep my entire deposit. Had charges for gutter cleaning, chimney cleaning....and the kicker.... light bulbs!!! When I did the math on the charges, he was charging me $7/bulb assuming he changed EVERY light bulb in the house....every single one.... so you can figure what I was expected to pay for the 2-3 he probably replaced....

Took him to court...judge laughed....I got ALL my $$ back.....

This is a PM issue.... those charges are out of line

I know this is a business, but have a little compassion.... this is a once in a lifetime (hopefully) tragedy.....epic destruction and chaos...people's lives destroyed....everything they own lost. I can only imagine the emotional state of the people that are going through this...... even the people that didn't get flooded are dealing with a lot..... do I still have a job? Is the business I work for going to fold? how do my kids go to school? water and food shortages, public transport etc etc etc....have some compassion and make some temporary concessions on being a strong businessman and landlord.

I would basically give them a one time "get out of jail free" card for late payment.... make it perfectly 1000% clear that this is a one time deal due to extreme circumstances...don't try and push it or there will be an eviction started.

If they have been a good tenant and have had the respect to give you the "heads up" that they were going to have an issue paying on time, that counts for something with me....

I know this is business and when you give an inch, tenants will often continue to push the envelope and take a mile...if they see you are "soft" they will exploit it.....but this is an extraordinary situation that just doesn't fit the rules.......

Take off list....lawn and outside paint...and relist....curb appeal is killing you.

I'm so sorry to hear about the situation..... I have a SFR property in Kingwood that was luckily spared...I was stressed all week watching the news, online and texting with the tenants to get updates..... I was freaked on what it would do to us if it flooded and what my options would be.... I was lucky to not have to deal with that outcome.

All I can say is take a few deep breaths...... life will go on....you will be ok.... don't panic too much until you know the damage. There will be government help that may offset your losses enough to help you keep afloat financially.

Your life will go on.... things will be rough, but they will get better.

If I do decide to invest in the area it would 100% be "buy and flip"..... buy cheap, rehab, add value and then sell it off....NO WAY I would do a "buy and hold" strategy...as stated above its not a matter of IF this will happen again, its WHEN..... and I'm not going to take on that risk..... that's up to the next owner.

My experience is seller bail when they realize what the actual $$ is that they will walk away with.... the novice seller thinks "I owe 100k and its selling for 162k, so I'll get a check for 62k"...... nope.....you wish...

When they see that final $$, it hits them that's it not nearly what they though it would be and they wont have enough to actually do what they had planned to do.....

At best  you are going to get rewarded any hard costs you incurred.... inspections etc etc..... otherwise, you can't force her to sign the final papers. If you really want the property, so are going to have to sweeten the deal for her....

The "rush" for finding longer term housing wont kick in for at least a week or two....right now, people are still in shock and have no idea what the status of their previous residence is.... no one is really thinking "where am I going to stay for the next 6-12 months?".... that mindset hasn't kicked in yet....it will....

I agree that the biggest challenge will be finding reliable trustworthy contractors and labor to do the rehabs..... when there is such high demand the market will flood with scam artists looking to take advantage. You think its tough dealing with contractors that don't return phone calls and never show up on time now, wait until the frenzy starts....

I also agree that we wont see the prices start to go up for a couple of weeks/months at least....right now no one really has a clue what the full impact is.... the market wont change until the scope of the situation really kicks in