All Forum Posts by: Phillip Austin

@Cody Lewis Thanks for sharing! I have the same question so I'll look into Final Cut and Canva.

@Ryan Lesley Thanks for sharing! I had the same question as @Denise Carringer. Had no idea Quickbooks offered that feature. I'll definitely check it out!

@Courtney Jenkins Take a look into Evernest. They're a national full-service property management company with 20+ markets around the country. They have offices in Atlanta, Detroit and surrounding areas, Kansas City and Columbus, OH. They'll most likely open an office in Texas this year! When you're ready to invest, give them a call and speak to one of their local brokers in the area.

You're probably self-managing since it's your first STR, however, it doesn't hurt to go ahead and plug in property management. You may decide to explore that option down the road.

@Fili Aguirre Verifying income is arguably THE most important piece when screening applicants. If you provide free housing, then I guess skip income verification.

@Conner Hitchcock This is a hard NO. Stick to your underwriting criteria, period. 

This is a sign of a "bad tenant." Someone who gives you a hard time about something as simple as running a credit check will give you all sorts of problems and headaches down the road. 

It's not about the credit check. It's about having a reasonable tenant who adheres to basic landlording practices.

Insane. I can understand the courts taking longer over the holidays but it's still shocking.

Due to the tenant friendly judges in NYC, you most likely cannot evict a tenant pending ERAP assistance. But, it's something your attorney should look into prior to your next court date in Feb. 

Try to offer the tenant "cash for keys." It's a long shot but it beats waiting 3 more months for an eviction.

 That's what I would do. Decrease in increments until you see traction. 

I agree with @Nathan Gesner. Too many red flags with the prospect AND 45 days is too long. A more common standard is to hold for 15 or 20 days max.

Interesting variety of recommendations in the thread.

Read through the lease in it's entirety. If it's a 'professional' lease, it most likely has language around interfering with maintenance contractors. If it does, you can post a demand for compliance and depending on your state, you can begin the eviction process after x number of demands/lease infractions. But, this is not your best bet. It's a long drawn out process and doesn't cure your headache.

Your best bet is to have an honest conversation with the tenants and first ask if they'd like to terminate the lease early with no penalty. If they say no, present a 'cash for keys' option in which you agree to give them x dollars to move out. Make sure you protect yourself with contingencies such as leaving by a certain date/time, leaving the property clean, etc.!

If they refuse to move out early even with a cash incentive, you'll have to revert back to the eviction option I mentioned at the beginning.

Best of luck!

@Johnnie Schneider Huntsville, AL should be at the top of your radar. 

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