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Updated over 9 years ago,
General Advice on my First Eviction, Remodel and Leases
Hi everyone - I've lurked for years but never posted. I closed in early June on my first property, a 4-plex I'm hacking. I knew ahead of time that I'd have to evict one tenant, and we go to court in the morning. Here're my questions:
1. She removed a drain under a downstairs hand sink, and allowed water to run non-stop. It flooded the apartment and part of the basement below (basement is laundry, not living space). Does this fall into flood/water damage for insurance? I just read that on another post and wondered.
2. I'd appreciate any advice on the remodel. My brother and I will be handling it. The 'bones' of the apartment are fine, we just need to paint, and along with the landscaping I've already done the rent will go up. I'd like advice on what y'all think is most appealing to quality tenants.
3. I'd also love advice on marketing the unit, as well as any "gotcha" items I may want to include in the lease - such as itemizing penalties or consequences for disallowed pets, extra residents, maintenance and notifying me of problems or issues, inspections and frequency, etc.
Love the forum here. BP is what allowed me to walk into this building, on MY budget and MY terms, cash flowing and still hacking. I've gotten an incredible education from y'all and can't wait to continue (working on purchasing the house next door....)
Thank you in advance!