All Forum Posts by: Jesse Gebauer

WHy can't you edit posts ont hese forums? :(

Anyway, I think I'm just going to see if they will pay the security deposit as well as sign the lease and fax it back.

The open house went very well.  I'd say about half of the 22 inquiries we received showed up.  Of those, 4 have submitted applications, and all are viable applicants (based on income, criminal background checks and credit checks - I'll be calling employers and landlords today).

My question now is, since a couple of the applicants live 2 hours away (transferring for work), they won't be able to sign a lease immediately.  My thoughts were to have them PayPal me a "holding deposit" until they can get here to sign a lease.  Should this holding despoit be equal to the security deposit, and simply become the security deposit once they sign their lease?  Or should it be some amount lower than the security deposit?

Yea, I'm noticing that out of the 22 inquiries we've gotten in 2 days, I'd say half sound excited enough to actually show up for the open house on Sunday. That, combined with the fact that I'd be mad if a landlord changed the advertised price myself has led us to remain at the original price.

We'll see how it goes Sunday!

 Meh, I'm not.  We're staying with the original advertised amount.

Thanks for your concern, though.

Here are the comps in our area (not many): https://sacramento.craigslist.org/search/apa?bedrooms=3&bathrooms=2&housing_type=6&query=natomas

And here is our place: https://sacramento.craigslist.org/apa/5068356331.html

Wife and I are leaning towards staying at 1600. If anything moving to 1700.

And Steve, you're absolutely right. If I knew what I was doing, I wouldn't be here asking for advice :) 

All valid points.  I suppose we should be happy with the interest and not try and get more money.  I want to be a landlord everyone wants, so coming in under market a little is OK with me, but my wife and I will be just squeeking by every month with having to put $370/mo on top of the rent.

My wife and I will review your comments tonight and decide if we increase it $100, $200, or not at all (I'm leaning towards not at all).  I GREATLY appreciate all your responses!

Also, the master bathroom is in the middle of a remodel which will be done in a week or so - so that's a pretty significant upgrade over other units in the area.

Combine that with new flooring in the front room, and there's definitely a case to an increase.  I'm not sure we can get $200 more, but I'd really like to.

What about replying to all the inquiries, stating the increase in rent of $200, but offering a 2 year lease if they want it without a rent increase in those 2 years?  Would that be an acceptable "trade-off" to renters?

 It is supposedly a service animal, however, I read some place that if I can't secure insurance on the house, that is sufficient grounds to deny the application even if it is a service dog.  Is this not true?  

In any event, my wife and I are on the fence with that particular application, as she lied on her application about not having any evictions, and her boyfriend does not have sufficient credit.  Those are enough grounds for us to deny the application as it is.

 Well, that's what we did - our asking price is right at the asking price of others in the area for the size and bedrooms.  But all this interest tells me we could go higher - sure there would be less interest, but it would really be nice not having to put money on top of the rent every month.