Cincinnati, OH New Landlord Questions

[Tom Lipps]

Hi BP Community!

This is my first post, so please bear with me!

I've been listening to the BP podcast, reading the guides, and their recommended books for the past 6 months or so. I have a 10 year goal of purchasing 10 properties using the BRRRR strategy. I'm currently looking to purchase my first rental on the West Side of Cincinnati (where I currently live and grew up).

In preparation to my first purchase, I have a few questions I'm hoping the community can help me out with, specifically for the Cincinnati area:

- Do you find that Rentometer.com gives good estimates on Rents? I've found it's rents to be higher than actual rents (making my ROI's appear greater than they really are when doing my initial analysis).

- If you allow pets, what kind of fee do you charge? Assuming you bump up your deposit AND rents?

- Are you aware of any "weird" landlording laws in Ohio that I should watch out for? For example, I understand if I shovel snow for my tenants, and they slip and hurt themselves, that I'm liable. BUT, if I leave the snow, and they injure themselves on it, I'm not liable. 

- What about HVAC filters? Does the tenant have the responsibility to buy and replace these each month? I could see them conveniently forgetting this. 

Thanks for your support!

- Tom

[Ben W.]

@Tom Lipps, Welcome to BP.  Good that you are asking questions.

A few good resources, even if you do not go the low to moderate end route.  '

1) Attend Cincinnati Police Dept Landlord/Cop training.  You will learn a lot.  More style and some great tips, but well worth your time.

2) Attend CMHA Landlord briefing/training.  They will have periodic sessions with their inspectors.  Why not learn from pros who have to adhere to housing code.

Lot's of other stuff, ask lots of questions and read.  You will develop your own systems (maybe lifted from others).

Happy investing.