All Forum Posts by: Lolita Ellis

Absolutely crazy. Gas/Electric etc is the tenants. The water bill remains with the property. Its best to check as the water company can put a lien against the property. I would suggest to check periodically. You would be surpris- Well I am on BP so you would not be, but as a landlord and a realtor assisting clients I have had some on both ends put bills in my name without my knowledge. One even was so clever to sell water from my home to a builder who was building a home next door- So always double check. The water company send me a courtesy bill for my rental so I can make sure it is being paid.

Excellent. To the point also references many resources avail that we newbies tend to ask before searching. thanks BP.

I do agree with many of the comments that have been posted. Im not sure what area you are in but I would suggest getting a sign in the yard or if you can listed in the mls ASAP. We all have hard experiences as landlords and sometimes cannot see beyond our current circumstances. I was troubled by a rental for years and often this same one property still errks my nerves and keeps me from furthering my vision. So stay focused- brainstorm really hard, talk to others. Some rent is better than none, but you also need to figure out a way to increase rents gradually. You could possibly offer a special for the first month or two. But whatever you do LAWD please do not select a tenant out of desperation. Please perform your due diligence and protect what little coins you currently have. There is no full proof, but there is dumb proof. Perform thorough checks on new applicants. In whatever you do select a paying tenenat..... been here and done that!!! Get your heart out of it and think business.

And yes now is a time to evaluate and create a cushion for those rainy days. Many blessings

Kristine,
I would either submit the offer via the website or just wait. If its overpriced I'm sure they will eventually lower it.

I agree with the everyone else. There is a lot in Columbus or even places close by, that you can drive to if necessary. By all means when you are ready to move to NY you can sell or continue to hold. Now is a time to establish relationships with mentors and people you can rely on I the biz for info.

John hit t on the head. You all have to try (and I mean try) to do your due diligence in screening applicants. As much as we may have a heart this is your business and treat it as such. Thank about how many lenders or businesses would cut you a break if your we're down on your luck. I'm sure this is a lessons but move on and just write this down as what not to do. It took me 8 years to recover from my mistake of using my heart and still working on it. I'm just now coming back from under the rocks. No tenant is better than a tenant not paying at all. Prepare to rent it again. And maybe you should have your wife log onto BP to so she can participate in a community were she can avail answers especially if she is going to assist with the biz. Good luck to both of you.

Tile looks great. Hey they bought shag carpet back. Let your lil gem wait its ten. Caulk Chang fixtures from Home Depot or shower head like they said.

I agree. And as they always say experience is the best tea her. Get the security deposit, check history on candidates. But hurry and focus on getting it rented out.

Thanks Will Barnard. I was a little nervous. I was actually thinking on the lines similar to what Kevin Kachin was asking. I am clear now. Im glad you simply asked this question.

Being from the area. That could be a little sketchy. What is the current REO and short sale ratio in the community? How do you think the community will fare within the next 1 year or so? If its an area that has been struggling or stigmatized then the only benefit may be monthly net at this time. Im just basing this off # presented from the comps. I would stand ground ( of course I just read the post from Brian Burke). Is your projected rent of $1400 solid? How long for Days on the market? Right now we seem to be doing pretty good in the rental market area, but also consider when the home will be listed for rent? Just some ideas. Good luck.