All Forum Posts by: Dena Puliatti

So is the 15th the day they are supposed to be out on their own, or is that the day the sheriff has a set out?  Usually the judge will give the tenant at sufferance a day to move on their own.  If the tenant ignores that date, the sheriff can set a date for a set-out (the tenant gets to hang out but the cop car while your maintenance team hauls everything to the curb).  The set-out can be pricey.  In Madison County, AL, the landlord must provide 4 able-bodied individuals to haul the belongings out, which can take a few hours.

In Alabama, you have to have a real estate license to manage other people's properties, so I'm glad you've checked with your attorney.  Buildium is one that will allow tenants to pay online, place work orders, advertise the properties, and run credit checks.  They don't require a minimum number of properties.

Short term rentals are in short supply here.  Good for you for tapping into that market!

Feel free to reach out to me.  I'm a property manager and realtor here in Huntsville.  We can get you set up with a Collaboration Center so you can see what your price range can buy here.

Definitely look in to the Huntsville, AL market.  Our city is growing by approximately 100 people per week with all of the new developments and companies coming into the area.  From the projections, Huntsville is slated to be as big as Birmingham within 10 years.

I did this very thing this summer for a long-term, fantastic tenant in a property that I manage. The owner set a budget, and the tenant and I met at the carpet store to pick it out, which made her so happy.  We told the manager that the installers would have to move things, and it was no issue.

Trying to cheat the system is a bad idea.  Don't do a back-dated lease; it's illegal.  They have already been receiving tax-free rent, which is shady enough.  If you help them do something illegal, you're not going to come out smelling like a rose.  In this business, reputation is everything and losing yours over someone else's taxes is not a good look.

A - You can have them sign your lease as soon as you close.

B - I think raising the rent during a pandemic is low down. Hold out for 6 months to a year.

C- Renter's insurance is cheap, and you can add that to your new lease agreement.

D - At this point, I would not ask for a security deposit.  When/if they move, you are going to have to renovate completely anyway, considering the length of time they have been there.  $700 isn't going to do much.

E - You can add pet rent to your new lease.  Say $20 per dog per month.

You may want to lay out your qualifications in the advertisement.  For example: Credit score over 550 with no consumer accounts in collections, no undischarged bankruptcies, no major felonies or evictions, and 3-3.5 times the rent.  That way if they don't qualify, then they can't get mad about losing the application fee.

My advice to a first-time investor would be to buy a single family home.  Multis are great for cash flow, but you'll also deal with multiple HVACs and other major systems. Those repairs can be costly and take a lot of time to recoup.   If you buy a single family home in good condition, do a few cosmetic changes, and rent it out, it may be less stressful as a first purchase.  Once you're in the groove, a multi would be a great next step.