All Forum Posts by: James R.

Lenin, I would advise you to do your due diligence on this prospective tenant like you would any other, which it sounds like you have done.  Having a history of mental illness doesn't necessarily mean that the tenant could become a problem, especially since he/she doesn't appear to have a history of problem behavior.  It sounds like the applicant has been taking care of his/her brother and doing a good job of it.  Hope this helps.  

@SueKelly

Thanks for your post.  You confirmed why I self-manage.  If done right (who's going to do it better than yourself) a person can still be out on the golf course almost 7 days a week.  

Make sure that you also write in your lease "no dog or cat sitting"  I had tenants who argued with me that they never had a dog and that they were just dog sitting.  Unbelievable!  

Joe,

I agree with Nathan.  You now have a personal connection.  This sounds like a plus to me, not a negative.  Given you spoke "coal-cracker dialect" with him, probably puts you in the new friend for life category.   Next, step would be to do what Nathan suggested.  Good luck!

Kevin,

I like how you have other ways of getting in the property to do a check.  I don't think that tenants respond very well when they are told that the landlord is stopping by to do a quarterly inspection, unless you have discussed this with them and they have no problems with the intrusion.  However, just the word inspection sounds almost as if you don't trust them. 

Your method of getting in to look around is much more appealing and sounds like you are just being a good landlord and looking out for your tenants best interest.  

In regard to asking tenants to leave, when your gut tells you it's time to take action, it is better to do it, because like you said, it could end up costing a lot of money in the long run, as it did in my and your situation.  

Landlords should never talk themselves out of asking tenants to leave because it's a pain to find a new tenant.  It's a much bigger pain to deal with the situation once it gets out of hand and ends up costing a lot more money.  

Marcia,

Thanks for your comment.  I like that you do quarterly reviews/inspections.  I only do a once-a-year inspection, in addition to the other visits to maintain the property, but sometimes I can go a year without a call with a problem.  This is sometimes good and sometimes bad.  I like your approach!  You are right, i.e. lessons learned!  

Blake,

Zillow.com = not very accurate 

Best place to find market rent for your neighborhood = Rentometer.com 

Good luck!

James

As landlords, we are delighted to have tenants who pay their rent on time, but at what point should we ask such a tenant to leave?  

I had a tenant who paid her rent on time, but was always very belligerent to me and the upstairs tenant.  I was very busy with my job and the upstairs tenant was afraid of the lower tenant, so she rarely said anything to me.  My gut told me that I needed to ask the belligerent tenant to leave asap (I am very accommodating to tenants' needs, but this woman also had some mental problems).  I ignored my gut feelings and sure enough when November came, she got into a big row with the upper tenant and threatened her with violence.  The belligerent tenant demanded that I ask the upper tenant to move out asap.  Instead, I asked the belligerent tenant to leave and because she was on a month-to-month, I could do so right away.  The only problem was it was winter and I could not get another qualified tenant until March 1st, resulting in me losing 3 months rent.  I believe the belligerent tenant timed it this way on purpose.  

The moral of the story is:  if you think that it is time to ask a paying tenant to leave, do it on your own terms, not when you have to or when he/she finally causes a problem.  As landlords, we need to be in the driver's seat at all times.  Had I followed my gut feelings, I would have gotten rid of her in the summer and gotten the unit re-rented right away.  

Anup, 

Please check out my BP profile.  Let's get in touch.  I think that I may be able to steer you in the right direction in the Milwaukee market.  

Best,

James

Malik,

Welcome to the BP forums!  

It sounds like you have a very good head on your shoulders!  I'm guessing that your fiancee is of the same mind-set and if so, you both could be an unstoppable duo in RE.  

I don't know how old you are, but if possible, postpone the kids until you are both ATLEAST 30 years old.  Build up your equity etc.  Your future child/children and you will be so much happier and will have such a great start in this world!  

God bless and best of luck to you!

James