All Forum Posts by: Andrea M.

Former Realtor from NY, and currently Inactive Realtor in VA, Bachelors in Health Services Administration, started rehabbing (buy and hold) for about 3 yrs now , currently in the Hampton Roads Area of VA

In my experience both can be very easy to rent, just remember that your occupancy limits differ, if you have one set for the property you may acquire. As far as resale, a 3 bedroom may be the easier route. Also, with a condo/apartment style/townhouse you may have HOA dues that you may want to factor in.

I would make 3 copies instead of 1 of the original and have all parties sign all 3 copies, one for you, the seller and the buyer

I am here in VA and my understanding regarding the code you posted, is pertaining to a move in inspection report within 5 days after move in regarding problems they may notice after move in for the landlord to rectify- that is how I have interpreted it with my tenants. Regarding the actual mold test, I have seen a Mold Test Kit at Lowes and Home Depot ( not sure how good they are but here is the link )[url] http://www.homedepot.com/h_d1/N-5yc1v/R-202534174/h_d2/ProductDisplay?catalogId=10053&langId=-1&keyword=mold+test&storeId=10051 .

Also, as a CYA, I would send a written notification (certified with return reciept) that the area ( basement) in which they use as a bedroom is not to be used as a bedroom but is livable space

I would be pissed too..I usually stay on top of the rent collection and sending out Pay or Quit and imposing the late for tenants who have a habit on paying late thinking it's ok. If you feel as though you have hadd enough of this tenant, I would move forward with the eviction process. In some states, you can still collect your rent late and move forward with eviction due to default in the contract, but you will have to get that advice from a local attorney in your area.

I agree the flood/sensor light around the property, also post No tresspassing signs and maybe a dog in the property. You may want to make your presence known by riding by at various hours of the day/week just to check on the property ( a quick, stop in at the property) , vary/extend the hours that you are there doing the rehab, make your presence known as the new owner of the property. Hiring a few of the locals to do some yard work or labor type work sometimes they will look out for you and keep an eye on the property..of course report any/all of your findings to the local authorities. Also you may want to give a few of your neighbors your contact number..a few of the above have worked for me

Really enjoy the site, all the input on posts and the wealth of information including all the forms

I think all of landlords (including myself) have problems with late paying tenants when you don't enforce the terms of your lease. My theory is this, the tenant knows the terms of the lease and are expected to fulfill , if tenant is having a problem with paying on time, it's the tenants responsibility to contact the landlord with an explanation and a plan. If the landlord doesn't hear from the tenant at the end of business on the last day in which rents are due, move forward with a Pay or Quit, for me. In my area based on the tenant/landlord act, I can accept late rent and still pursue eviction for default.

I agree with Brandon regarding the using a handyman vs a general contractor, except for the boiler (always use a certified license company). I would start with boiler room & have that assessed, cleaned and tuned up-by a licensed professional, then onto the common areas. I would also schedule walk thru appointments with each tenant to assess for repairs/ painting/damages and things of that nature ( you also get a chance to see how each tenant lives regarding cleanliness, pets and things of that nature).

I am also wondering did you get any tenant files for the current tenants ( rental application, verification of income, identification and things of that nature). If not, you will definitely need to start from scratch, possibly after the holidays you will have to send another letter.

I would check with your state/local laws regarding maximum lease terms..in Virginia you can max is 2 years. Personally, I wouldn't want to be locked in with 1 tenant for that long from the beginning, if the tenant/landlord relationship happens to last that long that's another story.