All Forum Posts by: Luke H.

Hello,

I live in Houston, Texas, work a full-time job, and manage a few rental properties I have worked hard to earn. I believe in working hard/smart and helping people through sharing my knowledge.  I also enjoy learning, refining my business, and using technology / automated processes when possible.

Would everyone like to submit their rental applications, leases so we can build a sticky post with useful forms? I'd like to review each application and lease to see how I can improve mine.  From reading posts here I know I have lots of room for improvement.

Is anyone available to mentor and/or for general conversations focused on rental property and acquiring more property?  It could be local in Houston over coffee or long distance via Skype. I enjoy traveling so I could also eventually make a trip out as well.

Thanks!

Thanks to everyone for responding. I've made my decision and and working with them.

A tenant just called me and asked if I could work with them on the following.  They found another property and want to be out of mine by Dec 15th.  They even asked if on tomorrow, Dec 1st she could prorate the rent.  I told them I would have to grab the file and take a look at the lease before agreeing to anything.  I also told them they are still responsible for the entire rent payment on tomorrow..

1) The lease states that the tenant must give 30 day written notice BEFORE the anniversary date.  If they do not give 30 day written notice the lease automatically renews on the anniversary date.  

2) The anniversary date is tomorrow Dec 1st.  At which time the lease automatically renews for an entire year.

3)They said she just sent the written notice and I haven't gotten it.

So a few hours before the lease is set to automatically renew for the entire year I get a call and in what I consider to be an emergency voice tone I am asked if I will let them out of the lease. 

This will have a major impact on my schedule, routine, revenue, and labor force.

Suggestions/ Feedback/ Thoughts on how to proceed here.
Thanks

Thank you to everyone that responded.  I really appreciate the feedback.  I will definitely apply the information. 

These issues have come up in the past and I've handled them, but wanted to get feedback from you guys to be informed and improve my processes:

1) A/C is down.  Houston is very hot in the summer.  A/C guys, even the 2 I use, can become very busy and schedule 1-2 days out.  I do have stated in my lease that the tenants give me at least 3 days to have the issues addressed.  One time a tenant told me it was too hot for her, so I told her to leave the house and find some place that was safe.  What do you guys suggest in this type of situation? Should I buy window units, tell them to turn on the fans and open the windows, get them a motel until the A/C is fixed?  Note: I do call the A/C guys ASAP and schedule ASAP.

2) Plumbing is backed up or there is a leak.  Again, I call the plumbers ASAP and schedule ASAP but want to make sure the tenant is safe.

Electricity down, tree branch through roof, etc..

In all cases, I work fast to make sure the issues are resolved ASAP, but until then, what are my responsibilities, or how should I handle it?  

Thanks!

I live and have rental property in Houston, Texas.  It floods in different parts of the city.  I'm curious to know/learn what my responsibilities are to my tenants if my rental house is flooded or in general becomes unlivable for any reason.  This is a topic that is new to me so be kind :)

1) I don't have anything written in my lease to address this. Should I?
2) I do have property insurance for my properties, but I'm wondering what happens when there is an event?

3) Is there a difference if it is a natural disaster versus a man made issue in the home?

Thank you!

@Cuong, I currently fund my own deals. This new year I'm branching out to find partners, private money and credit.

Look at you! Ha! We still need to get together and talk business.

Hello,
My name is Luis and I am a land lord in Houston Texas. I'm looking to learn more about all aspects of real estate.

Looking to do more property management, flips, wholesaling and teaming up with investors.

Thank you!

Joshua,
I tested the rental property analysis software, but it kicked me out at the last step. Said something about not being able to do that as a company. Anyways, I'm looking to provide a report for the bank on a rental property.

Thanks!