All Forum Posts by: George Paiva

What works for us is direct mail but make the mailers personable and stand out. Followup is key else it goes to mls.

I'd do what Max suggested. At the very least get anyone over 18 on the lease ASAP

As the others stated Step 1 talk to tenants, followup with written notice as well something along the lines John Doe , Jane Doe never had the right or privilege to occupy the premises. Try to get the names of John Jane Doe. It will help if you have to evict. You will have to evict if they don't move out. Include the original tenant. Wash Rinse and Repeat.

Everything is negotiable but in the end it all evens out.  Meaning yes you can find a PM that will maybe charge 1/2 month to find tenant but then would charge $50 service fee every time there is an issue with the property that would require handling or might charge a monthly service of +15% collected rent. Honestly 15mins on Postlets and 1-2hrs fielding calls daily should get you a tenant in 2-3 weeks. 

You got great recommendations and sounds like you have a great plan.  Too bad about the unpaid utilities going on the tax roll. Most likely why the previous landlord gave in and just paid it out of pocket.  BTW, you can still get the estoppel letters before close. Ask your attorney he should be able to get them provided on day of close.  Usually thats when I get them as well. Merry Christmas!!!

As Ralph stated baby steps here.  First establish some rapport with them.  Respectfully indicating to them that utilities will no longer be paid by the landlord.  Actually before we go down this road, are all utilities already separately metered? Electric? Heat? Hot Water?  If not then start working on getting them metered out because you will be on the hook. Give them a grace period of say 3-5 days to call utility companies because you will be stopping payments.  Check your laws, you probably don't have to put the utilities in your name day 1, therefore give them a heads up before you close indicating Jan 1 to get the utilities in their name because you aren't supplying them.

Once spring hits start with the increases.  If it were me I would do 3 or 6 month increases till market rent.

And if they don't pay evict. 

Good Luck.

Mixed commercial that was on the mls forever. Offered about 70% of ask, got lucky as they were desparate to sell at that time. Sometimes worth letting a property sit for 6 months before showing interest. Commercial loan 20% down with personal guarantee. 

This is what I would do as well.  Take the opportunity to fix and add some value so in the spring you can get higher rents.  Of course if you can swing it.  Else start cleaning and throw on a coat of paint and put them back on the market.

Personally I would be happy if they came to my property and cut down a mature tree. One less liability the way I see it.  I seem to always lose a weekend or so every year on tree cutting. 

Document everything and ensure pest control goes over what their shared responsibility to the tenants are. if it still continues to be an issue then offer to break lease and tell them to find another place. don't let them threaten you about housing because if you have documented everything you have nothing to worry about.