All Forum Posts by: Nikita Herrod

@Angeline Rebottaro

I considered Evolve but decided against it for the reasons you said. When I spoke with them the message I received was that the would coordinate the reservation and provide customer service but I would still have to turnover the units, call maintenance professionals, and arrange cleaning. Not worth having Evolve involved.

@Jonathan Klemm

I use State Farm as well. After all of the calling around I did, they were the most effective and simplest process. Albeit, not the cheapest. Still I would go straight to them next time as well.

@Boris Mordkovich

I have also furnished a 4 bed 2 bath home for short term rental and spent the same amount you quoted. I was amazed by how little things kept adding up.

In addition, I'm finding that replacement costs keep raising that total as well carpet cleaning, replacement towels, removing the smoke smell from people who break the house rule of not smoking. Trash bags, dish soap, etc. I have also had some big repairs like electric panel upgrades to accommodate the higher number and usage of electrical devices.

It's important to note that a furnishing is just the beginning. Budgeting for maintenance is so important.

I'm now using the Capex and vacancy recommendation of 10% by biggerpockets calculator from every payout to account for the many things that add extra cost.

Good luck to all. Go forward and prosper!

Nikita

@Dan Weber

Agreed!

@Jayming Fang

Are any rules listed in lease? If so, are the tenant's actions breaking any rules you've set? If not, I agree with the ask for police reports comment. If there are, hold the tenant to abiding by the rules set forth in the contract. Of there are none, consider adding a code of conduct to future lease agreements.

@Rosalynn Enfield

No way! Landlords are not required to ensure a renters belongings, so why would you be required to supply an alarm system. He agreed to rent the unit knowing there was not one in place. Just as there are insurance companies that provide renters insurance for his belongings, there are companies like Simply Safe and ring that provide monitoring alarms.

That is a personal expense.

Now having said that. Should you decide to install cameras to monitor the exterior, that would be of value to you as the landlord. That video could help protect your property from vandalism or theft. But your tenant should be in his own for his apartment.

That's my 2 cents, anyway.