Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

86
Posts
14
Votes
Matthew Carducci
  • Investor
  • New Braunfels, TX
14
Votes |
86
Posts

Inputs needed - Elderly couple renting

Matthew Carducci
  • Investor
  • New Braunfels, TX
Posted
Good afternoon BP. I'm currently screening an elderly couple from NJ that is moving to Charleston, SC area to be near their daughters and grandkids. They intend to occupy my 4/2.5 on 1 January. I have multiple discussions with them and they seem to fine financially in retirement and don't intend to purchase. The gross rent is $2800/mo and it's a split floor plan with master, laundry and additional .5 bath downstairs and then additional 3/1 upstairs. The property nets $1000/mo. A few questions I have: 1) what type of rental terms? One year lease, initial 6 or 18 month lease to force a summer turnover versus a winter? Rent increases? 2) lawn care, should I force a lawn care contract on them since they are elderly and the house, although a smallish lawn has large landscaping features in the back. 3) any other items I should consider when dealing with older retiree couples? I'm honestly nervous because I have had a younger couple the past three years that have taken absolutely great care of the home and now I'm wondering if I'm going to get the same care of the home (filters, etc) Byrne new tenants. While I don't think they will be destructive I'd really like to avoid the constant calls for minor, routine house maintenance. Is there a strategy to make this work smoother? They have made a few comments regarding there being no refrigerator or washer/drawer. I have not committed to putting one in. I can't tell whether they are waiting for me to offer it up. Something I don't intend to do initially. Could I adjust lease to cover the cost of washer/dryer and refrigerator purchase? Am I taking on more liability when I have my appliances in there? Bottom line- how do I incorporate creativity and fees into the lease to cover maintenance and other times unique to having a elderly couple in the rental? Any and all practical advice and inputs are welcome. Thanks.

Loading replies...