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All Forum Posts by: Michele Fischer

Michele Fischer has started 14 posts and replied 2335 times.

Post: Tenant late paying rent

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

We would post a notice of abandonment at this point if they are not in contact at all.  It depends on your local laws, but any paperwork you can provide the tenant to indicate that they need to respond might help.

Post: Unmarried couple wants to pay rent separately -NYC

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

If they want to pay with two payments, that's fine, but make it clear to them that both of them are ultimately responsible for 100% of the rent.  No return of deposit until both parties move out, they need to work things out themselves.  You want the ability to pursue both fo themf or unpaid rent, and you can't rent out half the house.

When we have couples rent, we always designate the strongest applicant as primary on the lease to avoid getting involved with any disputes.  Talking about it while everyone still likes each other can make things easier when someone wants the locks changed.

wording:

In the event that Tenants decide they no longer want to live together, ___________ will be considered the primary Tenant to make decisions about modifying or terminating tenancy. Deposits will not be returned (full or partial) until all tenants move out.

Post: Renting to my child

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

If you continue down the path of free rent, I would do a personal contract with her about the rules and expectations to continue earning the free rent, including respecting the house and neighbors.  When our kids went to college we signed a contract with them.  It was simple but let them know that the help with the tuition was not no strings attached and they had some mimimum standards they had to meet or they could pay their own way.  Loving guardrails.

Post: Medical Marijuana Question

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

"As a non-smoker I can tell that someone has been smoking in here..."

In my area no smoking is no smoking regardless of what is being smoked, at least currently.  But it is also almost impossible to enforce.  People can't really legally smoke it anywhere else, so they are most likely going to smoke in or on the property regardless of what the lease says.  

Even with annual maintenance inspections, I have scrubbed so much nicotene off walls.  When people lose mobility, they stop leaving the unit to smoke and it accumulates fast.  The good news is that the smell doesn't last forever with time and effort.

With two equal applicants, we will always choose the non smoker.  so far smoking is not a protected class.

I'm guessing the medical marijuana issue will evolve over time, especially if it becomes legal at the federal level.

Post: What can I deduct from Deposit?

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

You should be able to charge for any of these items if you have receipts for the expenses.  If you do the work yourself it is much harder for it to hold up in court.

But just becuase you can doesn't mean it is worthwhile.  I personally wouldn't charge for any of that if they left the unit in good shape.  Count yourself blessed on an easy turnover and move on.

Post: Section 8 Relationship to Home Value

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

Hi Bianca.

I can't imaginge it impacting the value of the house up or down, but if you have a section 8 tenant in place when you are ready to sell you may scare off some potential buyers who prefer not to deal with the program.  

It's been good for us, but every positive story has a nightmare story as well I'm sure.

Post: Insurance cost on a fully rented duplex?

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

In general I would expect to pay more for an insurance on a business policy rather than a personal policy and am not surprised by the increase.  Insurance in general has gone up quite a bit lately too, at least in my area.

Post: Question about lowering the rent

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

I personally would do the first option.  Decide what date works for you to get things buttoned up before you go and be firm.

When we evaluate applicants we look to see how long they have lived at various addresses, that tells us more than their words, they will tell you whatever they think you want to hear.  The credit reports show the previous addresses with dates.  It is one of many factors we look at.

We also don't expect long tenancies.  They are a great gift when it happens, but people rent because they want the flexibility or their lives are less stable.

Post: Fees for Rental units

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

Types of fees:

Application fees:  Above info is spot on, the only advice I would give is that higher fees means less applicants (we decided not to charge at all when we self managed, it did not add up to very much each year) and if it is non-refundable there are likely tenant-landlord laws about what you have to disclose about your criteria before they apply.

Late rent: If rent is late, there is an exra fee.  Tenant-landlord law often limits what this can be.

Insufficient funds: If you accept personal checks and the check bounces, there is normally a fee.

Key/remote replacement fee: If new keys, garage door openers, mail keys, etc need to be replaced for the same tenant, there is often a fee.

Breaking lease:  If a tenant moves out before the lease is over there is often a penalty clause.  In most cases you cannot charge two different tenants for the same time period (double dip).

Pet fees/pet rent: Local laws vary, but there are often addiitonal deposits, fees, or rent for allowing pets that don't qualify as service animals or emotional support animals.

Post: Security Claim Letter with $0 Security Depsoit

Michele Fischer
Posted
  • Rental Property Investor
  • Seattle, WA
  • Posts 2,367
  • Votes 1,081

You received the estimate, but have your received the final letter?  What does your local law say about security deposit returns?

I would keep on them, keep reaching out and letting them know you plan to fight it and asking them for more information to substantiate the claims.  If you are the squeeky wheel they may back down.  They might be hoping that people will just accept that and pay it.

A year in a new property is not very long so the place should not have much wear and tear or cost to turn over.  I assume they have to have receipts for all work done that will come into play if you end up in court.

It's great that you have move out photos/videos of the unit in good condition.  That and the paperword on the move in and move out inspection is helpful.  Good luck!