All Forum Posts by: Patricia Steiner

Blinds...they come in a variety of price points. And, the way to ensure that the blinds aren't damaged/destroyed by tenants is to require Renter's Insurance with Landlord As Additionally Insured.  It's a cheap date for the tenant (Geico is one of the largest providers) but it also lets tenants know upfront that "what you break, you buy." It avoids the whole security deposit fight.  And, take photos of the blinds and everything else in the unit and have the tenant sign those before moving in - indicating that 'this is how we started and this is how you are to maintain it throughout the lease and at end of lease."   Hope this helps.

Blinds are the go-to in our surounding markets - and for all the reasons you referenced and one more: tenant preference. The way you can gauge what is preferable in your market is to look up rental listings that would be comparable to yours and see what is being featured.  Hope this helps.

Freddie and Fannie now allow for conventional financing in the name of an LLC as long as the borrower is the sole owner of the LLC. And, you can do exactly what you're proposing with the bank accounts to collect rental income. My recommendation is to fix the immediate issue - and deal with those issues that don't exist when they do. The future often times looks very different than we imagined...

Forgive me for starting here...I have a back-up system at my vacation rentals to avoid situations like this; I witnessed it when I walking a listed property and those poor folks had driven 18 hours to start their vacation to only be locked out for hours. I later saw their review and they killed that owner.  I recommend discounting the nightly rate if not waiving it for the first night. It may sound drastic but saving yourself/the property from a scathing review is more costly.

That backup system is a key coded box for each unit containing a physical key.  It's a must-have.  Each unit has a key box which is located on the property so lock-outs are never an issue.

Hope this helps...

I've never personally had this happen to me but I was contacted by a BPer who had this same scenario play out at a property they remotely managed (owned).  They contacted me for help - and the more I looked in to it and vetted the people, geez, they were some downright scary serial scammers.  The owners, like you, went the eviction route and the scammers had the nerve to countersue the owner claiming it was unsafe, the property was falsely advertised/presented, and that they were discriminated against. Cut to the chase: The judge kicked them to the curb and ordered the sheriff to move them out within 24 hours. They did include all the vetting on their false identities and past criminal records that we had found in our search.

Expect this:  they may very likely steal everything they can (appliances, light fixtures, faucets).  They may have leased out rooms to others (for squatting, drug use).  Prepare for this mentally.  The goal is to get them out asap and then have a locksmith on the premises the second the eviction is enforced.

You're almost done...it will never happen to you again.  Warning to other landlords:  it will be coming your way...beware. 

Self-manage.  My clients and I are firm believers in this and self-manage remotely properties that are located throughout the US.  We have a process for doing so that is seamless and vetted.  It's not time consuming and it ensures that we know our tenants, our properties are well-managed and maintained, and that we control expenses.  You can do it...

Know this:  what starts out crazy, end crazier.  

I opt for tenants who pose no crazy, have a history of it, and understand that I won't create any in their lives and they're not going to create any in mine.  If you want to chase rent payments down 3 times or more a year, go for it.  I would bolt.  The best predictor of what's to come, is what's happened in the recent past.  You did the homework...trust it and move on.

This never happens to me!  Make sure she can afford it, do it, and then buy a lottery ticket while your luck is running high.

Send a formal invoice for utility services from (move-in date) through (date the service was setup by tenant); have it payment upon demand with a late charge if not paid within 3 days.  I wouldn't give any commentary - the tenant knows and it's not worth your time.  Go get your money...

A landlord does not provide a W9 to a tenant; if an agency is involved, the agency makes the request to the landlord.  And, are the utilities paid up-to-date by the tenant?  I think that's worth checking before responding to the agency should they contact you.