All Forum Posts by: Elizabeth M.

@Phil Reames  Sorry, again!  What would be a rationale for requesting a multi-year lease?

Pages of ideas here... 

https://www.houzz.com/photos/query/front-yard-privacy-screen/nqrwns/p/24

@Phil Reames  Thank you!  I have some homework...!

@Sherman Ragland, @Nathan Gesner

I'm a bit leary about posting onto a forum, but trust that PRO really is not public.  Sorry for the below novel, but in case you have further insights for me.

The townhouse is in Vegas, was initially purchased as a vacation home for my parents, then rented through a property management company after my dad passed.  I made the mistake of bringing my mom down with me when meeting the tenant and I think she presumed that I ultimately inherited the unit.  Not the case and I felt compelled at some point to mention that I had purchased the unit for my folks.  I took over direct management of the unit when the property management company refused to support my request for an itemized bill from their vendor on a major purchase.  At the time, I really did have the perfect tenant.

Over time, the rent stayed the same until I finally raised the rent 5% late last year. Mainly, I wanted to "start the conversation" as the unit's expenses have been creeping up, including fees for two HOA's, newly scheduled appliance maintenance fees, newly scheduled monthly rodent control (apparently LV has a big problem). I'm still using the original lease contract with addendums to extend the contract each year. The contract does not have a clear provision for rent increases.

The rent has never met the 1% rule, but it did reflect market rent initially.  Initially, I was of the impression that she would probably rent until assigned elsewhere or retired elsewhere.  That kind of fit my timing.  Apparently, her plans have changed.  I'm not prepared for the responsibilities of a lifetime tenant unless I have a good property management company as an intermediary.  Based on an inquiry with one last year, the prop manager's assessment of market rent for the unit last year didn't support the cost of hiring a property manager.  As it is, I am barely able to cover the repairs and relatively minor upgrades that have been requested.  A long term lease will undoubtedly come with requests for more significant upgrades.  That was the reason that she left her previous unit for mine, which was very lightly used.

Thanks for any further suggestions!

Hi,

My long-term tenant is currently on an annual lease in an age restricted subdivision.  She's been asking for a long multi-year lease.

She's a very good tenant, but I'm not comfortable locking in for more than a year at a time.  

What are your experiences with multi-year leases?  On balance, I just don't see much upside.

Thanks for your thoughts!

@Mike Huang  Thanks for sharing and bringing this to our attention!  This should be a sticky somewhere!  Here's a link to Jia's talk at Google:  https://www.youtube.com/watch?v=w_W2LeWe-RU

Smart, funny, insightful guy.

@Jerrod Avegalio  Here's an article, dated 2014, that seems an easy read of key points to have in mind when you talk to local brokers as suggested by @Jay Hinrichs.   Wish I had this info, earlier!

http://www.hawaiibusiness.com/leasehold-properties-a-deal-or-a-drain/

We like the Easy-on Gutterguards sold at Costco.  However, we don't have snow or ice to contend with.  http://www.costco.com/.product.100007502.html

Firstly, thank you Hillary!

- I agree with Chris Low.  As a new member, my biggest frustration is not being able to easily refer back to really (as in extremely) useful forum posts without following the entire thread.  Initially, I thought that voting on a post might provide a link or reference back, but not so.

- Would also love the ability to search within a forum and thread.  I may be mistaken, but right now I think there is only a top level search.

- I also can't tag via the app and I always have trouble tagging via pc. It requires multiple trys to get the tag to work/stick, and often can't get it to work at all.  

- I don't fully understand the purpose of colleague. Does the colleague's BP activity start showing up on my pages somewhere?  (like FB seems to do)  I'm hoping not.

- The BP addict badge is a reminder that I've spent way too much time on BP. There was definitely a cringe reaction that, perhaps, wasn't the intention.

- Is there a way to track sent emails? Is this the same as PM, or is there another way to send messages or chat?   

Thx!!

@Georgia Acres  Just wondering who is going to manage the five acres?  Perhaps more costs.

Also, when I peeked at your ad last night it seemed: (1) yours was the only rental in the area, so no instant comparables, (2) the photo of the exterior of your house was mostly in the shade (quite a contrast between left and right sides..), (3) for some reason, many of your photos initially loaded onto my screen sideways.  Maybe it was my browser.

Good luck.  This would seem a dream rental for the right folks.