All Forum Posts by: Ed B.

Samantha, in my area, the going rate seems to be about $1-1.50 per sq. ft for labor. But the it really depends on how many guys are out there looking for work. Like anything, when you have people who can install with time on their hands, they tend to work for less than if they are constantly busy.  By the way, my completed job looks great and was much cheaper than stucco, which I know you have a lot of in California.  I plan to use cement board siding whenever I can because it looks good, wears well, and  is less costly than stucco. 

My answer is "it depends."  What's the neighborhood like and the typical tenant?  If you're in an area that's prone to vandalism and broken windows, don't spend extra for low-e. If your tenants tend to be losers and dirt bags, give them clear glass but nothing extra like low -3. They won't pay more rent for low-e. This class of tenants only want a roof over their heads and basic protection from the elements.

Oops, I see my post went up twice. Sorry about that. Not sure how that happened.

I may just add that it's hard to give specific answers because each situation is different. And is the property a SFH or apartment, or triplex, fourplex, etc? In my town demand is so strong that landlords can usually get year long leases. Other places, landlords may only get nine month leases and have to absorb a 3 month vacancy, or offer reduced rent in the summer, or rent the place to summer vacationers, etc. Being close to campus is a big advantage, though. The closer it is, the easier it should be to rent.

I love renting to college students. Have done it with single family homes for several years. I can get more rent than if I'd rented the entire house to a family. My leases go for an entire year, usually Sept. to Sept., so my vacancy minimal, if any.  Wear and tear may be slightly more with students than a family, but not appreciably so. Nor have I experienced any wild parties which caused damage and upset the neighbors. In my experience, most college students are mature, well-behaved, and just want a decent place to live while going to college. They're not out to cause problems or skip out on the rent.  Granted, there are always exceptions, but the fact they are in college makes them more motivated and responsible than the average non-student tenant. Proximity to the college means you have build-in demand from students year after year, so finding new tenants when the old ones graduate will make your life easier. I wouldn't hesitate a bit renting to college students.

I love renting to college students. Have done it with single family homes for several years. I can get more rent than if I'd rented the entire house to a family. My leases go for an entire year, usually Sept. to Sept., so my vacancy minimal, if any.  Wear and tear may be slightly more with students than a family, but not appreciably so. Nor have I experienced any wild parties which caused damage and upset the neighbors. In my experience, most college students are mature, well-behaved, and just want a decent place to live while going to college. They're not out to cause problems or skip out on the rent.  Granted, there are always exceptions, but the fact they are in college makes them more motivated and responsible than the average non-student tenant. Proximity to the college means you have build-in demand from students year after year, so finding new tenants when the old ones graduate will make your life easier. I wouldn't hesitate a bit renting to college students.

My two cents worth, if you are considering owing a C class rental.  Many of the tenants for these properties can't speak intelligible English, and or they are just not  very bright.  I used to get so sick of answering calls from these types whenever I advertised a vacancy.  It can really try your patience. It certainly did mine.  Life is so much nicer when I can deal with applicants who are closer to my level in intelligence and have the ability to speak so they don't sound like a complete moron. 

Contance Mitchell, I'm calling you on the carpet for  your ignorant statement:  "We all know that Real Estate Investing is profitable."

Really??   Were you around from 2008-2012 when tons of investors lost money? I hate it when I see people say such stupid things.  Real estate can be profitable, if your timing is good and if you make intelligent decisions, but  there are also  so many ways to lose money if you're not careful.

When  a tenant starts off with language like  "it's the law" and by citing landlord tenant statutes, it's a big turn off and tells me the tenant is trying to leverage the situation by getting all legal on me. Tenants who do that get put on  my "mental list" for lease termination at the earliest opportunity. However, if they simply come to me and say "I have some complaints and want to  know if you can help me resolve them" get my full attention and cooperation. Also, it's not uncommon for tenants to complain about things only after they run into difficulties themselves, e.g. being delinquent or late on rent, as  way to somehow "justify" or balance out their transgressions.

As irritating as it is the way  they chose to complain, you have to consider their complaints to determine if they are legitimate or just overblown and unreasonable. There may be both. Health and safety issues, as well as any required as part of your local housing code, need to be fixed without delay or excuses on your part. Beyond that, it's a matter of the tenants reevaluating the house to determine if they are willing to live there for the contracted rent, even though there may be some issues not to their liking, e.g. inadequate insulation, etc. If they feel misled about the condition of the house, simply apologize and tell them what you are willing to do and not willing to do. As a landlord, you should be in the business of offering decent housing for a fair price, but if you're unable or unwilling to meet tenant expectations, and you  both cannot reach a compromise, the simple answer is for the tenants to find another house more suitable for them.  Finally, any tenant who has to go to a church for help paying rent is probably too weak financially to qualify for continued tenancy--unless it's just a one time thing.  The next time they need charity help, and strike out, you  will probably be the one taking it in the shorts.

Some of those dumpster rentals can be pretty expensive. Consider renting a big U-haul truck to throw all the stuff into, and drive it all yourself to the dump. Worked out pretty well, and was less costly than a dumpster. Of course, when I was through I scrubbed out the truck with soap and bleach and hosed it all out to make sure it was clean for the next renter.  :)

I second Jay Hinrich's idea about having a yard sale with free items. I did this once after I evicted some tenants who left a lot of stuff behind.  What I discovered is a lot of people place higher value on stuff that looks like junk to me.  I got rid of an old desk that was missing two drawers, and furniture that even Goodwill would reject.  People like the idea of something free, and some people are just so poor they will gladly take other people's used stuff. You will be amazed at the stuff people will haul away for free, stuff that you probably thought needed to go straight to the dump.