All Forum Posts by: David Haley

Anyone doing STVR in Hot Springs? Any push by the city to restrict short-term rentals? How close do you need to be to Bathhouse Row? Any specific neighborhoods or sub-markets to focus on? Appreciate any insight or feedback.

Just to clarify the lease start and stop dates. The 3rd and 24th only applies to the first month and last month of the lease. The current leases expire 7/31, which we inherited when we bought the house. So we started the lease term on 8/3 to allow us a few days to clean up the unit and make it rent ready for our daughter and the new tenants. The last month we set up the lease to expire 7/24, which give us a week to turn the units over for new leases starting 8/1 of 2021. We've seen this on quite a few properties in the Texas A&M market where our rental is located. Thanks again for all your feedback. We'll say no to most. The paint is in good shape and only 2 years old, they just wanted more color. 

Thank you for the feedback.  We needed to hear all of the above. 

We are new to College student rental: Lease starts on 3rd of the mo - are we obligated to prorate that month? Lease end date is the 24th-do we prorate that month as well? 

We are renting our 2 year old investment property to our college student daughter and her 4 friends; we know all of the parents socially.  One parent (Guarantor) has endless requests: Can we repaint the entire interior, or at least the bedrooms? Will you install Ring for their safety? (the parent has stated we bought in a shady neighborhood and she needs Ring to feel more secure. My reply was the entire town is shady, it's a college town!) Can we install televisions on the walls? Can you install safety lighting on every corner of the house? (We currently have safety lighting over the driveway.)  My answer is NO to all of it.  I think the requests will just keep coming if we say Yes.  Partner feels we have to say yes to something, IE: install Ring at our cost, but they must pay monthly fee. Agreeing to install Ring seems that we admit the area is unsafe too. Do we allow painting in the bedrooms? Any experienced feedback for these type of requests?  Thanks.

@Mike Reynolds I saw this old post pop up. I have a rental SFR in Bryan near TAMU and am considering renovating or selling. Do you do work in Bryan or anyone you can refer me to?

Looking for referrals for agents in the Bryan-College Station market. Appreciate the help!

@Emir Dukic

Thanks Emir. I will follow up with her.

We recently rented an AirBnB for a week in the Big Apple. Unfortunately the A/C didn’t work for the entire stay. When we notified the landlord on a Sunday that it wasn’t cooling she said she was previously aware of the problem and a tech would be out there on Monday or Tuesday. Tuesday she learns she needs parts and has to wait for the parts. She offered some portable fans and a bottle of wine for the inconvenience and apologized for the inconvenience. I then mention a credit seems in order since we are going on 3 nights without A/C. She agrees to a $200 credit. Days go on and I have to follow up with her to ask if it’s going to be repaired during our stay. She says she’s at the mercy of the supplier. For you STVR landlords out there, what would you think is fair? Our rental was around $275/night and the weather was in the 80s to 90s during our stay.

Yes Adrian Chu we rent by the bedroom. Works well with student housing. Leases guaranteed by the parents also so mitigates some of the risk renting to college kids. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $212,000
Cash invested: $45,000

1950's construction. Originally a 3/1, had been renovated the last few years by converting the carport and garage into 2 additional bedrooms and one bath, resulting in a 5/3 just north of Texas A&M University; renting at $2,250/month

What made you interested in investing in this type of deal?

My son attends TAMU and rather than paying someone else rent we thought it made sense to own and have others rent from us.

How did you find this deal and how did you negotiate it?

On the MLS

How did you finance this deal?

Traditional bank financing. Since he's living in the house, we put our son on the deed so it was classified as owner occupied for better terms.

How did you add value to the deal?

It's built in the 50's and was in decent shape. Had to remove a wall so that one of the bedrooms had a window.

What was the outcome?

Still own and rent. Have only turned over one of the bedrooms so far without any issues or vacancies.