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All Forum Posts by: Nicole A.

Nicole A. has started 78 posts and replied 2610 times.

Post: Discount rent for on time payments.

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

You are creating more book-keeping work and more details to track if you do this. Now you gotta keep track of who paid when. Some will pay late but pay the discounted rate. Or they will argue you on when they sent the rent.

Keep things as simple as possible for you. There is rent at one amount. If not received by a certain day, rent court/eviction is immediately filed (and late charges incurred).

Post: Tenant gifts Christmas

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

While nice, it's not very professional. And if things go bad, they will not remember your gift or nice gestures anyway. Keep it at a general holiday card and send the same card to all tenants. Do not treat any tenant differently.

Post: typical fake lender for all you starting out borrowing money

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

Was it the all caps that gave it away (in addition to the message in general)? :-)

Also, thanks for making everyone aware of him. I flagged his account.

Post: How to make my rental more attractive

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

Being that you're in NY, I assume most people are not moving during this time of year due to the cold winters and also holiday season. How long has it been on the market?

Also, I would suggest better photos. The photos in your listing are small and dark.

Post: Looking for Advice on Getting Started

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

@Matthew Horstmyer You always base the rent on nearby similar rentals. This is for just rooms up to entire single family home rentals. Sometimes it can be a little tricker to know what rent you can get for a single bedroom, but just take a look on Craigslist for room rental ads near you. Look on Zillow for them too. And I just remembered Facebook has a Marketplace section that you might find ads as well. Lots of people seem to include all utilities in the rent price for a room, but read the ads to know for sure. 

And don't feel required to supply certain amenities. For example, if you don't have cable tv, do not buy it just to be able to list it as an amenity. Most people don't really care about that kind of stuff. They probably have Netflix or something and they mostly just care about a good internet connection.

Also be sure to clearly state if you're offering a private or a shared bathroom. My housemates share the bathroom closest to their bedrooms.

Post: Tenant put down a deposit to hold apt but have bedbugs!

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

The post is a little confusing, but regarding deposits to secure a rental unit... the few times I have done this, I have informed the possible tenant that I will continue to adverstise the unit. Never take your property off the market until you have a signed lease.

Post: Looking for Advice on Getting Started

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

@Matthew Horstmyer I take good photos of the room, bathroom, and common areas. Then I post them on things like Craigslist and Zillow. Zillow tends to bring in a much larger pool of "tire kickers" to funnel through, but it's usually easy to tell right off the bat. For example, if they just send me a canned response that was auto-written by Zillow, I don't even both responding. It's usually the "I like the property at XYZ Main St. and would like to set up a viewing." Nah, if you're too lazy to send me a real message, I'm too lazy to respond lol. 

Also, when you house-hack in the form of renting out rooms or a basement in your own home, you can have requirements that are otherwise illegal. For example, I do not allow couples or people with children to move into one of my rooms. Again, this is only allowed because I live in the house too.

Post: Big problem tenant is threatening....again

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

Don't worry about that stuff. Yes, people can try and sue you for anything, even something they basically made up. But if your property is kept in safe condition, she won't have much of a case. If you haven't already, to help give you better peace of mind (in general, not just because of her) get an umbrella policy. They don't cost much.

Enjoy Thanksgiving! Don't let thoughts of her what-ifs cause you to not be truly present with your family and friends. It'll all be fine.

Post: Purchasing Duplex's in lower income area (Need Help)

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

@Matthew Reid When I got my best tenants in that particular rental, they never stayed long. They either stayed a full year but would not renew or they simply broke the lease. 

You can only get as good of tenants as the neighborhood attracts. 

You make it sound very easy and simple. I have plenty of experience as a landlord, so your last comment comes across a bit condescending. Let us know your thoughts when you get experience in this class neighborhood.

Post: Big problem tenant is threatening....again

Nicole A.
ModeratorPosted
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
  • Posts 2,733
  • Votes 2,486

She said she can't use the PO Box address? Why am I not shocked. lol
FIle for rent court/eviction. Do not talk to her. Let the court paperwork do the talking. If she pays in the meantime, then the court/eviction will simply be canceled. But think of filing as your "insurance" to get rent and it will also start to set a new tone with her when she realizes you mean business and you can't be sucked into her BS communications.