All Forum Posts by: Ashly B.

Yesterday one of our tenants notified us she'd be moving mid-July. The unit is a large second floor 1 bedroom and is the only unit that has access to the attic. The attic has stairs going up and is approximately 500 sq ft, partially finished, high ceilings (not those sloped ones you hit your head on when you get too close to the wall!). Currently, its empty and stays closed off. We've tossed around the idea of turning it into a studio unit or adding living space for the unit below by creating a master suite - budget option would be to just do a bedroom with a large closet. To meet code I do believe we'd need to alter the stairs because the grade is too steep and our county requires a rental certificate that is reinspected every 2 years. 

I'd guess, with the stair reconstruction, finishing it off, adding a bathroom, we could easily spend $20k. With no bath, maybe $10-12k? Unit was previously rented for $475 but its under market and we're also going to update the kitchen and bath. New rent should be $650 without the attic... if I could make it a 2 br, it could go for $900 even without the second bath. 

What considerations would you have before taking on a project like this? Worth it or leave it as is?

110% agree with you. We've been landlords for a SFH for 3 years and never had ANY issues - great tenants, little maintenance ::knock on wood:: However, we didn't pick these ones so we kinda have to roll with the punches until we get this settled and can start upgrading and marketing to a different demographic.

Thanks for all the words of encouragement :) Since my posting the 4th tenant (only one not mentioned above), called and requested an in person meeting to discuss the remainder of her lease. Joys of landlording for sure!

I'm not sure Royce. The previous landlord provided me with the paperwork he had to fill out in order to receive the assistance from the tenant and the assistance is approved up through the end of the year. I was hoping I'd just have to sign something and provide my address and we'd be good to go but its proving to be difficult to even get to that step. The previous landlord did offer to just turn the check over to me if it doesn't get sorted before July rent is paid (thank goodness he's been accommodating!) but its still frustrating to not even be able to get anyone on the phone 

We closed last Tuesday. In the first week, 

• We sent a letter ending month to month tenancy with the unit that had cockroaches. No word from them yet... kind of dreading that convo
• I've spent way too much time calling, on hold and talking to voicemail boxes trying to figure out how to transfer one tenants county assistance to my name from the previous landlord. To date, this remains unresolved and of the 5 messages I've left, no one has called me back and rent is due next week.
• Another tenant took her boyfriend (who is also on the lease) to court for domestic and called to request permission to change the locks.

Hope every week isn't this adventurous. 

Thanks @Matt Holmer. This helps. I was hoping to just drop a letter in the mailbox so I'll confirm that's acceptable in Polk county. 

Hi there. Posed a bit before about our tenants with cockroaches. We closed on the property yesterday. I misspoke in my initial post - the tenants are actually NOT under lease. It expired in September '14. I read the How to evict a tenant post but it really addresses non-payment/eviction. Since we are just ending a month to month, I'm wondering what, if any formal steps we are required to take or if its as simple as just putting a letter in the mailbox that gives them 30 days to find a new place. Anyone have a sample letter? 

Thinking we will wait til July 1, give them 30 days and also offer their deposit back to hopefully avoid any headaches with it. 

Fingers crossed it doesn't get ugly. Thanks for any advice!

 I was looking at their rebate programs yesterday. Since its a mult-unit, it sounds like I will actually be required to do an energy audit before we can qualify for rebates anyway but great suggestion! We've done it on all of our SFHs and its always worth it.

Thanks for the suggestions. If we bought used, would we then contract someone to install it and haul away the old one or is this something my semi-handy husband might be able to DIY?

As to your point on number one, I agree that it will be great to turn the entire building, but its just the one tenant that has the dog issue and they will be the first to go. The others aren't so bad - pay on time, keep to themselves, 2 of the 4 have been there 4+ years, no other pets in the building - but all of them pay rent significantly below market and as we start to align it with market value I do think we'll see more turnover which should give us the opportunity to upgrade the remaining units. 

 It is MidAmerican service territory. I was planning to look into whether the rebates were only eligible if it was owner occupied and whether we can use it just once or on multiple units. That's a great discount! 

@Mindy Jensen

Love RAGBRAI :)

Fair point - I suppose I could run them til they die, I just have to imagine that these peoples heading bills are outrageous and I don't hate the idea of being ahead of them so we can proactively shop for the best deal rather than having to take whats in stock and available when one breaks but I'll sit on it some more before we launch into replacing them.