All Forum Posts by: Blake C.

@Michele Fischer Thanks for the thoughts. I agree that some units might not show as good as once you have a chance to spice it up a little. But isn't the flip-side also true when you have great tenants... what we are all after? I guess what motivated this is that at my last turnover, I went in to take pictures to post on Craigslist (I lost my before pictures... yikes). In doing so, I noticed that the house looked 100x better with their furniture and decor up. Its a pretty basic house, so the furniture and the decor did tons to make the vinyl tile feel warm and cozy.

Instead of telling my tenants that I was going to show, I asked them. May be this was a mistake, but I tend to go with the ask first, demand second approach when I have good tenants. I have a great relationship with them, but they said they would like to not be inconvenienced by it. Honestly, I understand. The wife is pregnant and who wants to deal with showings? I felt bad because the lease says I can have "access," but showings aren't listed.

I might be splitting hairs with this approach. I know we all have to figure out what works well for us. I appreciate everyone's time and energy put into how you approach this topic. My time might be better spent chasing deals, but until they come, I figure I can split hairs over refining my process and building capitol.

@Mark Forest has the best approach of finding a good cleaning person. I haven't started hiring this out yet, but I should. In fact, I've heard that some areas deny the landlord's claims for labor when withholding security department. If you hate cleaning the appliances (I know I do), find someone who likes to earn a little $$$ more than they hate cleaning appliances and "simulate the local economy."

@Bill S. Do you think the approach here varies much by class of the property? I could see your 40-42 day approach working more in a little bit nicer areas than where my two properties are. I have found few applicants look at my houses that are looking more than 2 weeks out. Its on the lower end of class B neighborhood for my town. Nice, working class people, but most of the homes in the neighborhood are not owner-occupied (well may be 50/50).

With that said, I think you make some strong points connecting tenant selection and timing. Its obvious that poor tenants tend to not plan and need to move "right now!" I always avoid these tenants even if it means another week or two of vacancy. In fact, part of this incentive program is aimed at not just shortening turnovers, but trying to figure out how to find a tenant that plans in advance without having a month in vacancy. I don't want to lower my expectations to low, but I also have to know my neighborhood and whats the best type of tenant I will find for this calaber of home.

@Brandon Turner Just to push back a little... Do you think there is value in putting it into the lease for clarity and expectation sake? With new tenants, I walk through my lease line by line. In my eyes, part of a lease is for legal protection and part of it is to make sure expectations are clear. Even if I have a right to do something doesn't mean it will go well. Keeping things clear up front and setting the expectation for it while they are stoked about moving in seems better to me than springing it on them when their mind is already moving on to the next place.

As for the $150, you might be right. That's part of why I'm trying to see if, and what others do. I'm trying to put myself in their shoes to figure out what it might take to help inspire me to keep it clean, tell quality friends, and leave in a good mood. In my eyes, I will happily give away $150 to spare a $895 vacancy month. Its better than losing $895 to save $150! If anyone has found that they can get the motivation rolling with less or it takes more, I'd love to hear.

I just made a new forum post about something I am going to try that I know not everyone does... thats include details about showings/open houses for a 2 hour window on weekends during the 30 day notice period. For this "favor" will come an $$ incentive for helping find a tenant. If we get a tenant that moves in within 3 days of move-out, I will reward them with $150. If its someone they refer to me, Ill add on another $50.

Something else I do is paint all trim a glossy oil based extra-white, and the walls a nice warm gray beige. I use the same colors in all houses (many do this), but whats different for me is that I do this even in working class neighborhoods. Some people around me just paint everything white, paint the baseboard the same as the walls, leave them stained and beat up, or skip adding fresh paint here. Its a little more work on painting, but it adds to a nice pop. Ive had tenants walk into a house that I know my wife would refuse to live in and say, "Wow, its beautiful." That allows us to get a tenant thats in a class a little bit above the typical for the area and it doesn't add much to my costs. In a preventaive way, I paint beyond the expected range for the neighborhood as a method of "tenant proofing." One way to tenant proof is hardening... another is finding out how to get a great tenant. It takes a little more labor on the front end remodel, but its not that difficult to maintain.

Another thing I do is try to keep a warm relationship with my tenants without being their friend. I wanted to be liked, but not liked so much that they loose respect. I want them to know that I am a real person that wont jerk them around (trust), but that they obey rules because there are consequences (respect). By knowing them just a little, it provides for more manageable relationship and personally I feel like they are less likely to try to screw me over. With more and more of the millennial generation joining the tenant pool, I have found they they want to have a relationship with people. They are tribal. Meaning, they have no problem sticking it to "the man" or the "big bad company," but they don't want to take advantage of someone they know. Also, these things might encourage them to stay instead of moving.

As a millennial generation member, I think I have an advantage into how they think. I try to adjust my strategy to fit if thats my tenant. By only having two properties, I have an easier time doing this. I do this by asking about their lives when we end up on the phone, sending a baby gift when they are expecting, sending Christmas card, finding ways to make minor upgrades to the property (new ceiling fan, paint touched up, ect) if they resign their lease, or simply doing something more than I said. One I do the most is with respect to pest-control. The lease says they are responsible, but if I have a good tenant, I come out and do it a couple times a year when I do my own house or if I am making a small repair. I make sure they know its "because they consistently paying on time and keeping the house in top condition."

I only manage two properties at the moment. Therefore one of my goals is to use my opportunity to focus just two properties to increase my returns. I wanted to gain some prospective on how to eliminate vacancy even while experience tenant turn over. Here is what I am thinking.

I want to add into my lease a requirement and an incentive for current tenants to aid in securing the next tenant. First, I would like to add language into my lease stating that the property will be available for showing or open houses on either Saturday or Sunday (once a week) from 2-4pm. The house will be shown only one two hour period each week during the final month of the lease after the 30 day notice is given. An accompanying For Rent sign will be posted in the yard as soon as the 30 day notice is given.

Does anyone have good language that I could use as a guide to adding this to my lease? Does anyone have red/yellow flags they would raise to doing this?

Also, I want to add an incentive program to them aiding in the process. If they are home, i want them to say good things... all of which should be true because I try my best to provide a good product and honest business. Additionally, I would like to show the house in at lease decent condition (free of dirty laundry, and significant messes. Last, I think the incentive allows it to be a win-win. I don't believe in exhorting control over the tenants. They do their part, Ill do mine. If they help me by being inconvenienced with showings and keeping it a little more orderly than normal I would like to do a reward. $150 if we get a tenant that moves in within 3 days of move-out and an extra $50 on top if they refer someone to me that leased within 3 days of move-out.

Does anyone else offer similar programs? How do these numbers compare to yours? The lease is in a class B neighborhood in Texas that rents for $850 a month (3 Bed, 2 Bath, No garage).

Is this a new rule? I didn't ask last year when I got my last mortgage, But in 2010 and 2008, a different lender gave it to me. Its not a big deal, this is just one more strike in the lack of customer service form this institution. Its a local one too. I would expect more. I understand there is rules, but this makes little sense. I paid for the report, why I wouldn't be able to see it makes little since to me.

I recently got a mortgage on my 2nd investment property (within the last 15 days). I asked the loan officer to send a copy of my credit report just for curiosity. The bank rep said that they are not allowed to give it to me. Not only would this ordinarily irritate me, but I had a terrible financing experience during the process. They did close the loan at a decent rate, but only after lots of misinformation, delays, broken promises, and unreturned phone calls.

In the past, lenders have provided my credit report to me. Is it now the new normal not to?

For me, porcelain is the only road of the three you listed. Ceramic is not as strong and is typically only a little cheaper. If one piece goes bad, I would have been better off with porcelain. It's cheap insurance and hardening to me. Travertine doesn't make sense to me for rentals. Too many issues and too many porcelain look a likes.

For me, porcelain is the only road of the three you listed. Ceramic is not as strong and is tupiclu