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All Forum Posts by: Steve S.

Steve S. has started 294 posts and replied 637 times.

Quote from @Jay Hurst:
Quote from @Steve S.:

ive been with Travelers for several years on one of my rentals.  Obviously with this insane inflation things have gotten very expensive.  my insurance went from $1200 to $2400 to $3800 in 3 years.

Doing a shop this weekend.  Anyone have any recommended providers in Texas that you've worked with that are good quality?

Also, with them i had a "landlord policy" which i would think is generally less expensive as the tenant has insurance as well and i have a separate umbrella policy with GEICO.  

Is a "landlord policy" recommended?

Landlord policy's have gone way up because most carriers are no longer writing landlord policy's in Texas because of the billions of pay out due to hail storms. https://www.restoremastersllc.com/hail-damage-statistics-in-...

So, supply and demand of course push's up prices. 

 interesting.  so pre 2020 hail existed and why would it matter if a landlord has hail occur or a primary owner has hail occur?  i wonder what their logic is there for more than tripling the premiums in 3 years suddenly.  

Thankfully my rents have gone way up so i can help cover those costs

ive been with Travelers for several years on one of my rentals.  Obviously with this insane inflation things have gotten very expensive.  my insurance went from $1200 to $2400 to $3800 in 3 years.

Doing a shop this weekend.  Anyone have any recommended providers in Texas that you've worked with that are good quality?

Also, with them i had a "landlord policy" which i would think is generally less expensive as the tenant has insurance as well and i have a separate umbrella policy with GEICO.  

Is a "landlord policy" recommended?

Post: Rate my rentals

Steve S.Posted
  • Dallas, TX
  • Posts 649
  • Votes 52

I have 2 rentals and i would like some feedback on how you would rate my metrics etc and any suggestions of what i could / should be doing next.

Rental 1

- Built 1998, 2600 sq feet, half of a duplex, very nice finish out, 2 story, all bedrooms upstairs, 2 full bath upstairs, 1/2 bath downstairs

- Acquired in 2016 for $330,000.  

- Current value $570,000

- Current rent $3300

- Mortgage $230,000 at 3.75% (23 years left)

Rental 2

built in 1978, 1800 sq feet, B to C+ type property but best property in the neighborhood, 3 bedrooms, 2 bath, no garage (converted to man cave / family room)

- Acquired in 2016 for $130,000

- Current value $270,000+

- Current rent $1800

- Mortgage $60.000 at 3.75% (23 years left)

Both have long term tenants locked into longish term leases (netx 2 years or so)

Any thoughts?  Feedback?  Suggestions?

Should i pay off as soon as possible?  never pay off?

Tenant complained of faint sewer smell.

Plumber snaked camera into pipe from toilet and identified broken pip with water popped where it shouldn’t be.

Estimate is $20,000 to excavate, replace and potential foundation preparation.

What would insurance potentially cover? House built in 1977. Not in position for $20,000 repair.

Their business has been destroyed by inflation

asked if they could use the deposit to cover rent for this month. 

What should I do next?  I want to be sensitive to their situation as the economy is bad and we’re all struggling but we run a business. 


Post: Looking for RE attorney to review a contract

Steve S.Posted
  • Dallas, TX
  • Posts 649
  • Votes 52
Quote from @Bryan Noth:

@Steve S. is it a promulgated TREC contract or custom drafted / custom addenda? 


 Standard promulgated TREC form

Post: Looking for RE attorney to review a contract

Steve S.Posted
  • Dallas, TX
  • Posts 649
  • Votes 52

Have had a cash offer on a house and just want someone to review the contract before I accept. 

Quote from @Nathan Gesner:
Quote from @Steve S.:

Tenant works overnight and is refusing to let tenants in between 10am and 6pm because that is their normal sleep time. 

Anyone experienced this?  How can this be handled?


Read the law. It requires you to give notice; it does not require you to get permission. You have a legal right to enter the property for inspections, maintenance, etc. Tell the tenant they can stay awake an extra 15-30 minutes. If they refuse, give them a notice of termination.

Yes understand the law but also trying to deal with realities. All the law says is “reasonable”. So more looking to anyones experience on this as What’s reasonable to le isnt to them etc. I know I’m defendable from a legal standpoint but also by the time that would be resolved with a judge, they will be long gone.

so more looking for tactics or approaches beyond what I’ve done so far which is to be nice and accommodative. Now they are tightening up the times even more to 9am to noon Wednesday they Friday. 

obviously unacceptable and won’t stand but trying to respond appropriately to achieve the outcome I want 

Tenant works overnight and is refusing to let tenants in between 10am and 6pm because that is their normal sleep time. 

Anyone experienced this?  How can this be handled?

I have a tenant whose lease expires in May. Located in Texas. Planning to sell the property. Will give them plenty of heads up. 

I understand the lease has to be honored which is right to do anyway. 

Is there a set legal Amount of time one must give the tenant?  

Obviously they need to know as well given people will be coming to look at alit and, maybe the tenant wants to buy the place.