All Forum Posts by: David S.

Quote from @Theresa Harris:

Sounds like you've had some bad tenants.  People rent for many reasons, yes some don't have it together, but others are starting out, moved to a new place, etc.

Buy a rental in a good area and get good tenants.  Make sure you've inspected your property and fixed anything that might be an issue.

Yes good tenants can go bad, but when that happens get them out ASAP to minimize the problems.

Yes, I have! Yet my comments are rooted more in the insane amount of tenant weeding that needs to be done even to find an OK renter these days. 
Can you comment on how long it takes you to find a good tenant? Or perhaps I should ask; How long do you often find yourself waiting if the initial listing interest doesn't turn up a good candidate? I'm learning that patience is valuable when placing a tenant, but still have a lot to learn in this respect. Thanks

Quote from @Steven Foster Wilson:

Quote from @David S.:

Let’s face it… Renters -usually- rent because they don’t have it together. They are hard on rentals, with lousy pets, smoking, violence, lack of cleanliness, out of control kids, you name it. I’m learning this the hard way, and want to know what the BP community is doing beyond LVP flooring to prevent damage and make property turns quick and painless? 

So far I’ve learned; No storm or screen doors. No finished basements in a temperate climate. Preferably single story homes, or at least no upstairs bathrooms. No landscaping, at all. Blinds are considered a disposable item. Use cabinet paint (enamel or alkyd) for all trim and doors. No ice makers. 

What are your hacks? Does anybody have a great ceiling paint that can be washed well but isn’t glossy? What are you putting on your stairs if you have two stories but don’t want carpet?

 For my rentals, I do a high screening. I make sure their credit core is at least 600, references, and work history. This has helped save me a lot of headaches. I like to do granite in all of my places because you can put hot things on it and it does not ruin it. I always set aside money for paint touch-ups and whatever else for the turnover. I also do not really like doing carpet. I paint my steps Black and white. Easy to re-paint and looks nice. 

 You paint the treads black and the kicks white I’m presuming? What kind of product are you using for this, and how do you ensure they have enough grip on the treads to not slip? That’s worried me… the potent fall hazard. Thanks

Quote from @Eliott Elias:

Vinyl flooring and a high security deposit 

 Eliott, I totally agree on the high security deposit, especially as the cost of repairs has outstripped already high inflation. Have you had any good prospects not be able to rent though because of it? 

I’m debating charging one month of deposit, then reducing the rent amount by $50 but instead making that $50 a mandatory additional deposit every month for the first 24 months. Refundable, so if they’re good tenants they get rewarded on the end, and if not, they in essence get punished as I cover my costs more realistically after move out. The longer they’re in, the more damage they can do, so it makes a lot of sense to me, gives them a monthly reminder to treat the place well (unless they auto pay their rent) and more incentive to keep the place nice. 
A lot of tenants eventually see the damage they’re causing and then essentially say “Awe the heck with my deposit, I’ll just do whatever I want since my LL is going to take my deposit anyway.” Once you hit that mentality all bets are off. I’ve only had 3 tenants thus far, but two of them were very careless with money, so I definitely see a need to increase deposits. 

Quote from @Karl Denton:

Bulletproof kitchen reno that I was told and has worked for me is, Granite countertops and subway tile backsplash. Go with a Luxury vinyl plank floor as well, they hold up well and clean easily for both you and the tenant. I also created a master key for my rental so that I don't have a million keys for the place. Streamlining is the goal with all the units. 

Can you elaborate in the master key idea please? I’m not understanding how you’d do that and still have a unique key for each tenant. 

Quote from @Nathan Gesner:

Proper screening, regular inspections, and solid policies that enable you to nip problems in the bud quickly. 

The best flooring or countertops can still be damaged. Your trying to build a rental that withstands bad tenants; you should focus on finding good tenants.

 I’m trying to do both actually, cause even the best tenants can take a turn for the worst and I’m not convinced you can omit all the bad apples even with proper screening. 
Nathan, I’ve been mulling listing a little under market rate to attract better applicants and also play the patience game should I not find that renter in the first week. Any thoughts on those two strategies? I also intend to require an initial (free) application just to see a property. I agree; Nailing down the best possible screening process as soon as possible is probably the top priority. 

Thanks

Quote from @Adam Martin:

Home Depot has a behr scuff resistant flat paint that is key.  When you touch up paint it doesn’t match due to the sheen not color and flat makes this a non issue so I can touch up much easier instead of painting the whole wall.  Also all walls in all houses are accessible bright I can’t imagine having tons of different paint buckets for different houses.  

 Adam, I’ve seen this paint. Are you using it on your ceilings? Curious if so… Thanks

No exterior water spigots is an interesting one. I've seen a few non-frost free spigots that are a maintenance call waiting to happen… it's indeed tempting to get rid of them entirely rather than replace, but I do feel they're needed on SFH's.

What kind of counters have you decided on? I agree that granite/stone is better than laminate for rentals, especially if there are no seams or long runs and I can do the install myself. 

As to my comment on renters, in most markets one can own for roughly the same amount it costs to rent or better. Granted some people want to rent, but most do so because they can’t buy, and yet oddly they can afford rent…

Great input though! Thanks much

Let’s face it… Renters -usually- rent because they don’t have it together. They are hard on rentals, with lousy pets, smoking, violence, lack of cleanliness, out of control kids, you name it. I’m learning this the hard way, and want to know what the BP community is doing beyond LVP flooring to prevent damage and make property turns quick and painless? 

So far I’ve learned; No storm or screen doors. No finished basements in a temperate climate. Preferably single story homes, or at least no upstairs bathrooms. No landscaping, at all. Blinds are considered a disposable item. Use cabinet paint (enamel or alkyd) for all trim and doors. No ice makers. 

What are your hacks? Does anybody have a great ceiling paint that can be washed well but isn’t glossy? What are you putting on your stairs if you have two stories but don’t want carpet?

Has anybody ever repaired siding that looks like this? About 1/4 of the house’s exterior looks like this. I plan to sell and would like to repair it without breaking the bank. Is there a highly durable, commercial grade exterior filler I can apply, sand, and paint? Bondo?? 

Thanks!  

Quote from @Roger Laughary:

Quote from @David S.:

Hey all, 

We closed on a property in Wichita on which we offered a two week lease back to sweeten the deal for the seller. They moved out a few days early and in that window of time somebody stole the AC unit, including the A exchanger or whatever it’s called in the furnace. Cost to replace with an added security cage is between $5 and $6k. 
This is a 2 BR, 700 sq ft house… at a certain point it seems a mini split would be the wiser option. They cost a little less, and aren’t stolen as readily, and can be installed on a roof more easily.
Turns out this same thing has happened across the street to three different homes over the last year, so I’m really not interested in spending $5k on another system, cage or not. They already cut a lock to get to my last one and hauled it away to the front of the house, what’s another lock going to do to stop them? 
My other option is window units; I still have a perfectly good heater in the house; just need cooling. 
What can you say about mini splits? How many of you are only doing window units anymore because of these thefts and the cost of new AC systems? 
Need some advice please. 

 I'll install a mini-split every chance I get on a small property. Makes sense in several ways. 

Roger, are you installing single zone or multi zone? What brand? Having it done or DIY? 
Thanks