All Forum Posts by: Anna M.

Thanks @Sergiu Ionita :)

@Thomas S. one thing you said really stood out to me and was sort of like the slap I needed, ""or spend extra on efficiency upgrades when utilities are in tenants name" I will definitely keep this in mind as I was going to redo all windows (a cost that was easily going to be anywhere from $10K to $20K and just for windows) but recently had to stop myself and really re-think my strategy. This is why I love BP, for the more seasoned REIs can help steer us newbies the right way with the, "hey, you! Yes you!.... the hell are you doing? Now how do you intend to get an ROI by doing that? think about it for a little now will you?" LOL, I know I exaggerate here but in all honestly I truly do appreciate BP for this kind of mentoring to newbies, mentoring that you all probably don't even realize you are giving directly and indirectly. Cheers!

Thanks @Ron Flatt, I really appreciate the advice. and yes the fence here is intended to deter people from the neighboring apartment complex sitting on the property as they smoke their weed.  No lie I saw it when I went to complete inspections.  I am planning on going cheap though, just so I can create some kind of boundary.  The rest as you say, because they have the potential to cause bigger issues unless fixed, I will address.  I really like that you put there, "Improvements are rewards for good tenants".  I am careful now to watch myself and only reward good behavior so tenants can continue to appreciate what they are getting.  :)

@Sergiu Ionita, never heard of them but I have marked this post and will look into this.  so do you control the temperature or do the tenants?  I don't want to add on more work for myself and/or infringe on their privacy/space by dictating what temperatures the home has to be in, but at the same time they are aware that dropping below 60 during winter time is not ideal.  So I guess if they are home and leave, can they not just set the temp on the control panel?  Am sure these are useful, I don't doubt that, but I am just wondering how to use them in a rental to where they show advantage over tenant just adjusting/setting temp on control panel.

@Gail K. "cheapos" LOL, I love it, but for real, tenants can really try your patience with the silly things they do.  It is up to us as landlords to help train them to comply with the policies that help protect our investment.  Often times you will find those that will try to challenge you as I did upon first ever property purchase where I inherited the tenants.  I just about almost pulled my hair out with that bunch that wanted to run things like they owned it.  A part of me would speak "internal voice" why don't you go buy your own place where you can smoke inside (including weed), leave your space heaters unattended, have 20 plus smelly rabbits, bring in the homeless, pile up crap in the garage to where it is a no-walk or "walk at your own risk zone", drink and wake up every morning yelling and screaming at each other all while waking up the entire peaceful quiet cul de sac, change locks at will.......OMG the list goes on.  In the end, we parted ways.  Good thing was I was documenting all this, which will always be your best defense in court as tenants will look you straight in the eye and swear you never told them...... uuggghhhhhh.  I love the suggestion of the slow drip.  I am fortunate to have some very mature and smart tenants that do not need to be told this but you cannot assume that of all tenants so best to remove any uncertainity by saying it in writing in the lease they sign.

Thanks @Steven J. and @Kenny Rains for both your inputs.  Kenny, yes I am actually considering that and may have the entire shown price include utilities gas, electric and water, if the person signs a 16 month lease.  Am really trying to get out of winter months and willing to offer incentives.  Will definitely post updates to this discussion and I love the continued input, very helpful all thank you.

For now I would have to say you.It is your property and ultimately you are responsible for everything.Some tenants tend to be selective at what they here and what they do not.“telling them verbally” often times is not as effective as “telling them in writing”.The latter also protects you when you have to go to court and/or charge for damages.I like this post as it now makes me go to reinforce my own lease language by giving examples of just what the repercussions will be.My tenants are aware “NOT” to turn off heat when away for vacation during winter time as I spell this out in my lease agreement and now I am going to add to up the cost of this on my damages addendum that also spells out what they are facing in terms of damages on certain things.I always have the statement in there that the prices shown are just estimates, but management will charge the cost of the replacement using current year costs, to include labor.When tenants see a price to something, they freak out and are more inclined to comply.Another suggestion is to add yourself to their Utility accounts as a backup so that the service provider never shuts down utilities for lack of payment.In a case like that, the bill will be sent to you before they shut off utilities thereby protecting your property from pipe freeze.You can threaten to charge them half the cost just to see if they will.They may fight you on that but at least it will register and make them more responsible next time.Sounds like you have some big babies for tenants and need to do some babysitting.Ugggghhhhh.Good luck though and great post as it makes me make not to reinforce my existing lease just to ensure I am applying the same advice, I am giving to you.

@Peter B. thanks for the comments and yes I absolutely do have a notice period in my lease, though 30 days not 60 because all my leases end at summer time. This one is just awkward because I am buying a new property and so need to move to this new property and then rent out the unit am currently living in. Because of the timing, it all happens to be in the winter time (bad for renting, good for buying in my opinion). Also I currently allow lease breaking but with a 2.5 month penalty March through October and a 4.5month penalty Nov through Feb as I try to deter tenants from leaving during the winter months to avoid this nightmare. Reaching out to some realtor friends to see about putting this thing on the MLS as still nothing biting! :(

I agree on the above two comments.  I have been guilty of over-doing it and I am literally seating down this New year weekend to draft a very strict budget that I want to stick to.  Initially I was going to replace all windows in the duplex that I am buying but I don't think I will do that.  I may opt to do this in parts and focus on the top unit for now, doing the bottom later.  I also have aretainment wall that is just about falling over, that requires attention.  Some regarding is needed which to me cannot wait as it causes foundation issues that later get costly.  Lastly I would like to install some simple privacy type fence, but I think a simply white vinyl fence will do it for now, again keeping cost in mind.  A few smaller things needed in the enterior (drywalling, some paint work, installation of bathroom vent and some electrical), but even that I think it will either be a DIY job or higher a handyman for these (electrical and drywalling).  I really want to be extremely careful on this as I am still paying down past remodel so I definitely understand where is coming from with is great advice.  I can also see where @Johann Jells is coming from, because I tend to prefer my properties look nice.  I also always house hack so I do have a tendency to want to make them a place I too will like to live, but I know, I know..... I have to be careful not to overdo it.  I always like to attract the right kind of tenant so that plays a part in my strategy so thus agreeing with Johann on this, but also agreeing with Priyanshu.  great post thanks and could not come at a better time, I close on the 3rd!

Thanks @Mario Mormile, I will look into finding local agents to see if I can get some help.  Really keeping my fingers crossed that I see some interest after the new year.  :)