All Forum Posts by: Jasmine Bennett

 In reference to Joe's post: He is correct. You are more than capable of self managing. You can always outsource the administrative side of things to someone more knowledgeable if you don't completely understand things. This would also save you some time and money because property management fees can be high. Always be sure to do thorough research before making any decisions.

When deciding upon the lease term you may want to look into the laws and guidelines surrounding rental lease terms in your state. Here in Florida, a lease must be 7 months or longer for tax and other reasons. Any leases under 7 months are considered vacation rental leases and stand in an entirely different bracket all together when it comes to taxes, laws, etc.

I agree with Rick. Most leases that I have seen/worked with forbid subletting to avoid the headaches you are about to encounter. First and foremost you will have complete strangers living in your home. These subletters have not been properly screened and the increased risk of having college aged subletters is substantial. Whose to say these people won't make off with the appliances while your current tenants are away on vacation? If you have already agreed to the idea and cannot back out now I would suggest two things: 1. Request an additional security deposit for the duration of sublet. I would suggest one month's rent but the amount can be of your choosing. This protects you in the event that the subletters are less than wonderful and cause damage to the unit. Your current renters can decided figure out where this amount will come from. I believe this is your best bet.  Your other option would be to raise the rent. You may want to check local laws however as this may not be an option if a binding lease is in place.

Good luck!

Jasmine

I agree with Ned and Chas, the tenant's have to be trained on what is appropriate behavior. Charge her for the services.

Johnny,

Congrats on closing on your first rental property! I agree with the comments above, a professional is definitely the way to go! If you plan on staying in the area, near the home, you may be able to find an assistant or virtual assistant who can help you with the admin side of renting the property. This route is generally less expensive than the property management company HOWEVER, this option only works if you want to be a hands on landlord. This provides you with a lot of decision making power but can also come with a lot of headache. A property management company can help with all aspects of managing the property by removing you from the middle, therefore, removing the stress.

Good luck!

Jasmine

This is a very interesting predicament. Here in Florida, we would try to contact the property owner BECAUSE should those branches fall onto our property, they would be responsible for the liability but as stated above, it greatly depends on state laws.

Good luck!

Jasmine

Hey there Patrick!

It's great that your property management company is doing such a great job! Just to check in and ensure that they're doing what's needed for the home you can always request that they schedule an interior inspection of the home with your tenant. This will allow them to send you photos of the current condition of the home and they can also let you know if any major repairs need to be done or may need to be done in the future. Each state has different laws as to how often an inspection can be scheduled but that would certainly help to keep you in the loop!

Good luck!

Jasmine