All Forum Posts by: Account Closed

Google "Georgia duty to mitigate" and find out what the law says.  That's the law that you need to find out.

If you don't want to research the law, then, pretend it was you and what do you think is fair?  Normally, what's fair is to charge someone for whatever your actual out-of-pocket costs are.  You shouldn't go wrong with that.  But, you should really know the laws that govern your business.  Landlord-tenant laws are usually a very small amount of law that you have to learn, and taking the time to learn them will save you heaps in unnecessary legal fees.

I'd go to the hospital and see if there are any bulletin boards or call them up and ask if there is such a thing or if they have a facebook page where you can advertise or if they hire traveling nurses through a particular agency, then call them up and find out how to advertise to their nurses for that hospital.  Maybe start with HR or see if there is a department for relocation services.

I learned I wanted to target law students at a nearby law school at one point where I was managing, and I went to the law school and just asked how to advertise to their students.  Turned out there were thrilled to have me and my building as a resource for their students (we were within walking distance of the law school), because they were always short of student housing for law students.  So, they advertised on the law school facebook page for me, whenever I had vacancies.

I also told my law student tenants I'd give them a $100 rent credit if they referred another law student to me who I rented to.  I very rarely had to advertise anywhere else, after that.

So, I'd start calling and visiting (although that might not be possible right now - to go in person) - basically, start networking.  Odds are, they are also looking for you - you just need to connect.

There is also the possibility of doing a corporate rental - where a company, like a temp agency for traveling nurses, wants to just pay you a regular rent that they guarantee you, and their employees come and go.  I was approached to do this at one point, but the owner and I decided against it for our building because we couldn't control who would be in the units (they weren't going to rent the entire building).  But, that also might be worth checking out.  Good luck.

My biggest mistake was renting out my primary home and hiring a PM when I moved out of state.  Lost my shirt trusting the PM.  Total nightmare.  I'd never own out of state again unless I was managing it myself and could afford to travel there whenever necessary.

But, basically, the lesson, in my opinion, is to self-manage.  The only time I think it's okay to delegate, would be if the manager was actually your employee and not someone who makes money from your losses.  Hire someone as an employee and give them bonuses for helping you profit, instead.  

Unfortunately, the way the traditional PM situation/contract is set-up, the PM only makes money when you lose money and have problems.  It's not fair for the PM either - why on earth would someone do that much work for only 10% or less of the rental amount?  Think about it.  It's absurd.  Nobody should be expected to do that, and it's obvious why the industry is full of con artists - because it's the only way they can make any decent wage for what they do.

So, hire someone and pay them a fair wage.  Or, self-manage, is my opinion.

Legally, you're best off to write out the security deposit refund check made out to both of them.  Any problems they have between them, is up to them to duke out in court, as far as one paying the rent after the other absconded.  Not your problem - even if you can feel for the good guy.  Best to go by the book as far as your contract with both of them, which would mean writing out the check to both of them as far as the security deposit goes.

I don't believe there is such a thing that could possibly replace good old fashioned personal screening.  Apps can't smell smoke on an applicant who also brings a bunch of rude friends with a pit bull in the back seat of the filthy car they drove up in, who was also late to the appointment and you got to admit he's been sleeping on his aunt's couch for the last year after getting out of prison - because you got him comfortable after chatting him up.  Or checks out all of his friends on facebook....or actually calls the HR departments at the jobs he says he worked at, or asked for a personal check to see if the address on it matches the addresses on the application he submitted, or saw whether or not he completed the application after being asked to do so, or if he showed up with the documents you asked for - on time.  Or Googled his phone number to see what happened....on and on.

And app is only going to check easy data that someone could probably figure out.  But, it won't tell you most of the above.

I learned how to do amazing screening after years of experience, and most of it was nothing an app could figure out.  

1) learn the landlord-tenant laws where the property is

2) screen the heck out of the tenant, in every possible legal way

3) repeat #2

4) don't hire a PM if you want to make money.  (My apologies to good PMs, but it's still hard to pay your fees and make money)

Also, what's the name on the contract?  Use that name.  You can also use "John and Jane Doe" and I think you add numbers 1-13 or something like that, to cover anyone living in the unit who's not on the lease you want to evict.

Why do you want to evict them?

What are the laws regarding fees where the property is?  You need to find this out first.

They will still need to meet your income requirements - with - whatever the housing authority would pay.  So, for instance, if the rent you can get for your unit is $3,000/month, and they are only approved for a max rental of $2,500, then they can't rent your unit.  So, even if 30% of their income is $500 - if they are only approved for a max $2,500 rent unit, they would be $500 short of being able to rent your unit.  They are only able to rent, max 40% of their income (and that's only if they've been in the program for 1 year without any problems, otherwise, they can only pay 30% of their income), so they can't just say they'll pay the difference - you have to agree and it must be within the guidelines and the rules.

Plus, you can still require they meet your requirements for credit score, landlord references, length of previous stay at rentals, etc.

Honestly, if you turn someone down and they want to claim discrimination, and they file a claim with HUD, it will probably take a year before the case even comes to a hearing. And in the meantime, you just plead you honestly believe you haven't broken any laws. Then, worst case, they send you to mediation and maybe, just maybe you're told you have to rent to that person - who, in the meantime, found somewhere else to live.

I wouldn't hire a lawyer until some action has been taken against you.  

People are really quick to say get a lawyer!  But, you don't need one until you need one.

Anyway, I'd put the work onto the applicant.  Tell them they have to prove that the amount they qualify for rent including their portion and the portion paid by the housing authority equals the amount of rent you are asking for, and let them know they have to pass all of your other requirements - background checks for all applicants, good landlord references of at least a year for the last two years (or whatever your requirements are).

You can google the landlord-tenant laws for WA regarding section 8, too.  WA is pretty good about providing written explanations for landlords.

You can also always just call the housing authority - or better yet, email them so it's in writing.  Ask them what the rules are.  They can't lie to you, and aren't likely to put themselves on the line by doing so.

If you buy a property with a lease in place, you have to honor it as-is.  Normally, the owner should notify the tenants of the fact the place has been sold and where to send their payments going forward.  Until you own it, you don't have the right to do so.  Good luck.  Learn the landlord-tenant laws in NV asap, to protect yourself and your investment.