All Forum Posts by: Amanda Janes

Hi @Mary Gansallo - I would be very cautious about acting as a property manager without a license. If you have a disgruntled tenant or business partner, or run into someone who is a "to the T" person, they could report you, resulting in some consequences you may rather not be involved in.

You'll want to find out what activities you can actually perform without a license, start looking for a Broker/Agent (whichever is required for your State/local rules), and then start working toward that license. 

Happy hunting in your search for a Broker!

Hi Jared, it sounds like you do have some sort of objective process that you go by. 

You could refine that process by creating a point system for each subject area that you look at (credit score/history, income, etc.) and make sure you WRITE IT DOWN and follow that same process ALWAYS. And it's always a good idea to run it by an attorney to ensure that any process you use will not violate fair housing.

Point system example (1 thru 5), credit score below 620 = 1, credit score above 720 = 5. And whoever has the highest score wins (at least that subject). Apply this to each subject you look at and add them up.

You could apply this point system to some old applicants that you identified and see how it would have ended up, had you used the point system at that time. 

Hi @Adam Vadnais, that's an interesting take on the improvements offer. I never thought about it that way! I don't think I've ever had someone offer though. 

I'm not sure what kind of question restrictions you may have there, but it could be worth asking if they have filed bankruptcy and if that bankruptcy has been closed (if not, they could potentially add you to their list and get free rent for however many months before you can file for stay of relief and evict.). 

Thank you Travis & Frank! 

Overall it sounds like, weigh comfortability of risk and overall numbers, and be patient for the "right" deal.

I am no way attempting to give you legal advice, just something to look further into and educate yourself on the local laws where you are --

Some states/local laws may state that if you always allow the tenant to pay late, you've set that precedent and would no longer be able to evict solely on late rent. A potential work around would be to give them sufficient notice (whatever that may mean for the laws in your area), that you will no longer allow late payments from them. Then you might have grounds to evict solely on late rent.

Seek out legal aid or an attorney who can guide you through the process and applicable laws... Should you indeed decide to evict them. 

@John Morgan 

Thanks for the reply! I've read quite a bit of the "Rich Dad" series. I know of Dave Ramsey and a little bit about what he's stance is. I'll definite look into the podcasts you mentioned. 

Every investor has that one thing (or more) that just gets them and makes them excited to delve in, even though the numbers may not work out.

Do you know what your's are? How to do you guard yourself against getting too excited and over extending yourself or making those bad decisions? Where do you look for guidance or education? 

Hi Andrew, when/how you serve notice will depend on the lease that the tenant signed and also your local laws. You'll want to confirm those details to be sure how to proceed. 

In my experience, this type of notice requires a physical notice on the property being leased (for example, taped to the door) or served through the mail. 

In the past, we were able to deliver other types of notices via text/email, such as the 24-hour notice to enter as described above (because we established that form of communication), but never the 3 Day Notice (Notice to vacate).

I'm curious to know what you find out about your local laws/process. Keep me updated!

Always have some sort of timestamped photo/video to back up the condition of the property prior to anyone's move-in and also immediately upon their move-out. Through Google Play, I have downloaded the app called "Timestamp Camera Free" provided by Yubin Chen. It works fairly well. It also attempts to geolocate and attach the property address as well to the timestamp. The geolocate works... ehh, so-so. 

Also, always have an official move-in and move-out inspection checklist. Have the tenant sign the inspection move-in checklist (which would include generalized condition rating and any specific notes of existing damages or general wear/tear). If the tenant signs off, then anything else that is not on that sheet, you could potentially dispute. 

You can consider enlisting the assistance of a collection agency to try to recoup any damages. At this point, you are looking at not collecting anything, but with the help of an agency -- you could get probably close to half of whatever they are able to collect. (Shop around and see if this option would work for you. This does not always fit everyone's needs/goals.) 

Another option would be to file a small claims case (unless the damages were out of this world), which may not help at all, and you would further maybe need to garnish their wages.. and so-on. 

Something else to consider as well, in addition to this is providing a "unit turnover fee" sheet, basically letting the tenant know what the charges will be if they leave the rental in poor condition (anything from a missing light bulb to replacing flooring). 

@Chan K. Section 8 can be a pain to work with. Unfortunately, you cannot ignore the requested repairs or the inspection will fail and rent abated.

Under normal circumstances, Section 8 tenants here in Montgomery County Ohio, must be given 60 days notice of non-renewal of lease. This is one potential option... And then market this property as no section 8 going forward.

If the tenant becomes behind in their portion of rent, you can always evict? You'll want to find out about your state/city specific laws and everything you need to cross t's and dot i's there, especially since the tenant is Section 8. Here in Ohio, we had to give tenant a 30 day notice of eviction, then at the end of 30 days, give them the normal 3 day notice. The rest was handled by the lawyer. (Recent experience based on this particular circumstances. Could be different under other circumstances.)

Or allow inspection to fail, have rent abated... And wait... Wait for Section 8 to relocate the tenant. I've never experienced this, so I'm not sure how quickly they do this relocation. Nor am I aware of any other repercussions. Do your research!