All Forum Posts by: Eric Wang

Just like to add-on what Jon and Tim has said. You also have to consider, your not just buying a home, your
also buying a business.

In Cali, if a tenant ask if your the owner, you have to disclose that you are. I always introduce myself as the property manager to prospective tenants, but if they ask if I'm the owner, I tell them I'am.

Living in the same complex as your tenants is a good way to start off and learn the business. Just remember to be very sensitive handling situation since you guys are all living in the same complex. You don't want to create any tention. If you find good tenants, you shouldn't have too much problems.

What type of joining methods do you guys use, Cold Expansion Fittings, Copper Crimp Ring, Stainless Steel Clamp or Push type fittings?

California has so many laws protecting tenants. I had to revise my lease agreement and rephrase some words to protect myself from lawsuit.

There are professional tenants out there looking for landlords who are discriminating and next thing you know, you have a lawsuit, it's like extortion. The thing is, you might not even think you are discriminating. They go after smaller landlords cause they are not educated in Fair Housing Law.

Craigslist is a good place to advertise, have good pictures and make sure your ad isn't breaking any Fair Housing Law. I show them around the property, explain to them any defaults such as, hot water takes a while to get hot, you are on a busy street so be aware of traffic noise, etc. I explain to them your application criteria, credit check, income, etc.. If you don't have one, have one! If there still interested, I give them a application. When I'm doing the walk through, I go over everything on the lease, walk through every room, whats working, whats not, then if everyone agrees, then sign at the bottom. Make sure your lease is up to date and not breaking any Fair Housing Law.

Good Luck!

We had a guest speaker, (Eviction Lawyer) at our local meeting. Regarding P.O Box, you need to provide tenant the option to mail or drop off rent check at a business address. If you only provide a P.O. Box, good luck collecting any late rent in court. Reason being, the tenant can say he or she mailed the check. You have to give them the OPTION to mail or dropoff rent check.

Aly,

Our last tenant we had a co-signer, not something we normally do. She is a young female who did not have a rental history. She was very honest about her credit. Her boss was the co-sgner and even wrote the check for the deposit. It just seem strange at the time, a boss would do all this for a employee. So far, she's been a very good tanent.

Update:

I finally installed the laminate flooring over the Holiday and it turned out great. I used a jig-saw with laminate cutting blade to cut pieces which worked out fine. Once you get a few boards going, it gets easier as you move along. The only hard part was the hallway where it meets 3 doors, cutting the pieces just right took a while. I recommend making a template with a cardboard. Also recommend getting knee pads.

I have a old gas wall furnace I like to get rid of and replace with electric heater. Do you just remove old furnace and cap the gas line and close up the wall? How do you handle the vent since you no longer need it? What is the proper procedure?

Thanks,
Eric

I have a old gas wall furnace I like to get rid of and replace with electric heater. Do you just remove old furnace and cap the gas line and close up the wall with drywall? How do you handle the vent since you no longer need it? What is the proper procedure?

Thanks,
Eric