All Forum Posts by: Debra Leeson

I agree with Brandon Hill about the level of "creepiness" of non-students to students.  From my experience of spending 25 years on campus at OSU (as an employee) I know this to be true.

I have seen co-workers successfully live with / rent to students. (It's not for the weak of heart.) You have to resolve yourself to have nothing for a limited amount of time. No privacy, no cleanliness, no nice furniture or other stuff.  This would be a short term sacrifice for a long term goal.  Student life revolve around quarters or semesters. This 3-4 months should also be the time commitment to living there. the could rent for one quarter of 17 quarters. (student are unable to comment yet) It also free you to say "I've had enough of this. time for you to leave." Renting by the room is a great money maker and would allow a fast payoff or fast saving. Then, no more students and you can start living as a adult.

Don't introduce yourself as the landlord and they are the tenants.  Keep it simple for them.  You are the one living there and you just need to rent room to help with the rent. (They don't need to know it is your mortgage.) More of a Peer level with you being the one in charge because you got there first and you are letting them join you.

Again, with an electronic rent payment to your entity. they are not giving you money, just paying the rent online. No payment, no room.

I could go on and on, but I'm stopping there.

Again, best wishes! Please let us know how it goes.

You do not have good tenants. You have GREAT tenants. Keep them and keep the happy.  $0 - $25 rent increase per year. (not $100).  

I am considering this from the assumed point of view that this property is currently cash flowing.  Good tenant are worth much more the an extra $2400 per year.

Consider the tenant from hell that could do thousands in damage in a short amount of time.

By all mean, increase the rent by $200/mo to the next tenant. But keep good things good.

As far as collecting rent, I don't like the idea of a casual hand me a check.  That's just me.  I like the electronic payment.   The kids are already attached to phone, ipad, laptop.  They can make the payment from anywhere. No need for a face to face in a busy student's schedule.  Also a clear and visible trail of payment time and amount. No "I left the check on the table for you.  Didn't you see it. Oh, the dog must have ate it."

BTW, for $100 / month I'll stop by for a home cooked meal 5 days a week.  (wink) What a bargain!

Best wishes! Please let us know how it goes.

I do not think you can go wrong with gift cards. Not too personal and it's useful.  Depending on neighborhood demographics...

class A's  $50 to something that interest them. You don't know what interest them, get a generic card they can spend any where.

class B's $50 gift card to local grocery store. Even is the store is not the one they shop at >80% will go to gift card store for 'free' food.

class C's $25 - $50 gift cards to local restaurants / fast food place.

class D's $25 to local convenient store. Some don't have cars to drive (sad,but true)

looking forward to seeing other suggestions.  Great thread.

Bill G. of Real Estate Investor from Springfield, Missouri

I like the way you think.

BTW, I have a jug of wine and $200 to hire you as my one-on-one mentor and coach for the next year. (wink)  Best wishes and keep up the good work.

This is slightly off topic, but   ...   When I hear student housing/ near school housing/ tenant no job / parents paying rent all I can think is $$$$$$$$$.  suggestion for next lease ( or even perhaps this sublet)

1.  when showing, inform that parents are required to cosign.

2. tenant & parent fills out rental app. & run credit on both.

3. If parent's credit good, tenant & parent sign rental agreement stating that tenant lives in rental and PARENT(s) are responsible for on time payment/ no damage.

4. ex moves out, not your problem. Parents problem. Parent honors lease agreement and pays or tell parent you hate to do this but, if lease agreement is not honored (payment and no damage) your only recourse would be to obtain a judgement for said amount. This would be attached the their mortgage and credit report.

5. 80% pays now, 20% pays latter with interest.

It's business. Hope this is not to much.

if unable to sell, then donate.  Habitat for Humanity perhaps.

There is Always more that one way to do ANything. here is one way.

Step1. Bring up your picture in your linked-in profile.

Step2. position 'pointer' over picture, right click on mouse, select 'save image as' from menu.

Step 3. Select to 'save image as' Into  Libraries, pictures, and name it 'ME PROFILE (or whatever) and save.

You now have an image of the pic save on your HD.

Step 4. Open you BP account and upload the pic from you HD.

OK BP community. Let give Lurline at lease three other ways to do this. (and have a good day :D)

Sounds like fun. What a great plan.  Maybe next year.

Dwayne S. of Pittsburgh ... cute kid. Is this the one from Andy Heller's info?