All Forum Posts by: Samantha Klein

Hell no. Can you say high maintenance? 

Usually 8-10% for reserves. With those numbers though, it seems tight on the cash flow. 

I set up a rent collection only bank account and gave instructions to all tenants that they need to deposit their rent at the bank and text me that they did. It saves me time going to the bank multiple times to deposit checks. 

Replace the carpet with laminate or vinyl plank and raise the rent. She can't really complain since she wants it replaced and has to know her rent is lower than other similar places. I'd explain it up front though so they know what to expect.

John, landlords insurance wouldn't cover the tenant anyway so I have no idea why you'd even mention tenants wanting to see a landlords insurance policy.

 I don't know about you but in this day and age, I cover my *** with signed docs to reduce/eliminate certain risk.

The way I see you post on the forum, it's the same thing over and over, makes me think you have never been a landlord and don't have any room to give advice on the subject. 

Fix the fence without insurance help. It's a fence after all. I personally would not file a claim ever unless it was tens of thousands of damage such as a flood or fire.

The effect on your premiums are not worth it and you may get dropped too. It will be harder to find a company willing to cover you with a claim history.

 If you want to make it in real estate,  you need to have insurance at a reasonable price.

Single family with a fenced yard, I would allow it under the circumstances that all tenants sign a liability waiver for any injuries and carry a renters policy to cover their liability. Check with your insurance though as it may or may not affect your policy coverage or premium. 

Raising it so much at once will likely cause them to shop around but if market is 2k, raise it to 1900 and if they stay, great. If not, re-rent it for 2k. If the unit needs alot of updating, it's up to you if you want to take the chance of losing them right now.

I personally raise it to what you think is fair based on the unit condition and see what happens. 

Yeah evict her when she stops paying. 

I have a friend who does my repair handyman work and I just pay him $20 an hour, sometimes more depending on the task. I also give cash bonuses a few times a year.