All Forum Posts by: Shannon Slade

Congrats.

We just recently closed on a SFR and Duplex the same day and within a day of closing we mailed out a letter informing the tenants of the new owners.

Letter also stated we would be stopping by to introduce ourselves, getting contact info of tenants and since 2 of the 3 were M2M we would be giving them the option to move or to sign a new lease with an increase in rent. The tenants didn't balk at this because the listing agent let them know the house had sold.  

In our mailed letter and when we met the tenants we handed them a copy of the same letter that gave them 3 ways to pay rent in the future.

If you haven't yet ask the tenants to fill out an Estoppel agreement on the units,you should, maybe you can even get the sellers to fill this out at closing.  This will be good to know what you bought that is inside or outside the units.  The homes we just bought the tenants own the range, dishwashers, washers, dryers and fridges.  Good for us we do not have any appliances to repair.

WOW what a mess!

Detailed scope of work next time please.

I second @Ceril S. and @Marco G.

Excel spreadsheet each unit has its own tab.  

Easy to set up functions for accounting and easy to see which properties are getting more or less attention.  

@Lee V. - Welcome to BP.

Try a 5% discount then go up from there on a weekly basis.  The higher price rent without those amenities the longer it sits empty.  Just make sure you adjust weekly so it doesn't drag out too long or maybe try going the reverse.  20% and if you get 15 calls then next rent period you could raise rent.  Then again if your market is as hot as ours it may not make a difference.  

Check out what it would cost to add separate w/d to the unit maybe even a stackable one.

At the metal air register is the coldest point from the unit mixing with hot/warm air causing condensation.  Continual condensation will cause mold, we run into this in our units.  I haven't been able to resolve our issues here either, but we on occasion once a tenant leaves is to pull off the register, scrape the texture, spray a 10-1 ratio bleach and water on the affected area, let dry and get a can of spray texture and then touch-up paint. 

Usually it is not a big area to do and takes roughly an hour total time.  If there is a solution besides moving the AC unit out of the bathroom, I am all ears.

You said you want to help her, leaving her in this current conditions isn't helping her.  She needs counseling to help her realize her mental state so she can clean up the mess and or move.  

Serve her a non renewal or quit pay!

If you want to help her, find a pastor/counselor.

Good luck 

Tenants can mow and weed.  If I do it then like @Mitch Messer said, I will pass the cost to the tenant.

@Chris Johnson

If the pest control co doesn't come when scheduled then pay for the pest control service and talk with the PM about rent relief.

You will most likely have to live in the apt as is, since you moved in with the current conditions.  At this point I would be surprised if the PM will repair cosmetics while you are living in the unit.  Chalk this up as a learning experience and good luck on the next one.

@Steven P.

I'll drive as far as needed, if the returns are there.

Make sure the house is hardened before a tenant moves in and screen well!

Depends on how gracious you will be!? One thing to remember they aren't just behind with you, they owe the utility company. Once a renter gets a month behind most will never catch-up. Ask them to move or refund their SD if they move within a week or two. This will be the cheapest option!!