All Forum Posts by: Allen Clark

I use a keypad lock and put in a new code for every tenant (and delete the old code). No keys and no lockout hassles. 

I bought a 1922 house in Seattle with windows that were at least 50 years old. I replaced them all with top of the line windows and am very happy. I know I did not have to go so high end but with windows I chose to. This will be a rental for six years and then I will live in the house for a bit. The top end windows look fantastic and I think were worth the money. 

We put keyless entry on all of our places. We recode all locks with each new tenant. There are two ways into each home and tenant gets no keys. I keep master keys at home but have never used them. We change the 9v battery once a year. 

I love keyless entry, our tenants love it too. I figure there must be cons as not everyone does this??

I like to get into my properties at least every three months. I absolutely see them from the outside every 2-4 weeks. 

I rent furnished houses to short term tenants in Seattle. Most people are coming from out of town and rent based on the photos. The places are furnished prior to the pictures being posted. The tenant has no say in what I buy.

Been doing this for a couple years now and it's working well. 

A couple thought come to mind. 

1. If you want to have a tax free capital gain when you sell the home then you must have owned and lived in your home as your principal residence an aggregate of at least two of the five years before the sale (this is called the ownership and use test). You can claim the exclusion once every two years. So as that time is up think about if you want to sell. I am not an accountant or tax expert, seek your own advice etc.

2. This structural issue will not be going away. When do you plan to fix it? If you want to sell in a few years you'll still have to address this issue. I like to keep my properties maintained in ready to sell condition. You never know when you might need to sell. 

I screen pretty hard on the phone prior to showing anyone. In that time I listen to what they want in a place to see if it could be a fit. Then I make sure I highlight any deficiencies in the property. I actively sell against myself. Then, if they're still interested, I will schedule a showing. Then the application and credit check etc. 

I have A rentals within walking distance to downtown Seattle. 

It's really interesting to me to see the different strategies. I rent short term furnished rentals in near downtown Seattle. I require 30 days notice and then they can leave with no penalty. These are A properties in great locations so they rent fast. My theory is that I do not want anyone living in my house that does not want to be there. Also, they rent so quickly that it's not hard at all to find a new renter. 

< 20 minute walk to downtown and a Walkscore > 85 make the units very easy to rent. I have a house in Lower Queen Anne near 5th & Mercer and 2 in First Hill at 11th and Jefferson. 

Finding value to buy in this market is nearly impossible in those areas today though. The real estate pros can talk about that better than I...

For a good two year tenant I would not charge to clean the carpets at the end of their stay. 

You are running a huge risk in not visiting your house in the 2 years they have been there. I like to see the inside of the house every four months in order to see how it is being cared for. A lot of damage can happen in 2 years if they never clean the tub, poorly care for the kitchen/bathroom etc.