All Forum Posts by: Glenn Hermans

Hello,

I'm looking for a few referrals to a management company that specializes in AirBnB type rentals in the Montgomery Tx/Lake Conroe area.

Thanks in advance!  :)

You're running a business.  If she didn't return all items or didn't return the property as agreed, then charge her appropriately per state law and your contract.  She could've fixed the holes if she wanted to.. but she didn't.    

@Michael Moskos

Pay for it yourself, have it professionally installed. Don’t take shortcuts.

If cash flow is an issue right now in purchasing and installing a new dishwasher, offer him a slight credit on rent for the length of time it will take you to replace the dishwasher. If you don’t want to let him know that you’re having a cash flow issue, tell him it is on back order.

I agree with everyone’s ideas. Improper installation of the dishwasher and the resulting flood of water in the house can really destroy your profit for the year.

Good luck. 🤓

@Steven Clark

I would not want any of my tenants to see my personal life. I am running a business.

I’ve learned the hard way that being too friendly with tenants always comes back to bite me. They ask for forgiveness on late fees, or want/expect to be treated differently than our contract states.

A few years ago I had a tenant ask me to waive late fees because she wanted to use her rent check to go to burning man. She said she would pay me in two weeks. When I told her that a late fee would apply, she thought that because we were friendly on Facebook that I would waive it for her.

Don’t. :)

One (of many) of the paragraphs in my lease addendum.. please keep in mind that any changes/additions that you make to a lease should be approved by an attorney so that it will comply with all laws.  That being said: 

General Condition of Rental:
As you can see, this home is not new construction. We have made every attempt,
within the owner’s budget, to make it nice for you. It may however, have some quirks.
We will repair or replace anything that is a health or safety issue. Please keep in mind
however that the final decision belongs to the owner on all items that are not a health or safety issue.

---

You should have them sign/date a MIMO (move in move out) with supporting pictures..  I make this a requirement to return to me within 10 days of occupancy.  As well as proof of renters insurance. 

Allowing texting is setting yourself up for a problem down the road.  They are easy to manipulate and hard to keep accurate records of conversations.. email for everything.. you need everything in writing.

(Just my 2 cents)

Good luck!

@Nicholas Cook, thanks for your post.. it seems like a bit of a quagmire right now.

Mike,  Thanks so much for your clarification and your offer to answer additional questions.  I'm just starting to look at the Oregon market, and your perspective definitely helps.  

Thanks for your input, Jay!

Hello all,  I'm in Roseburg Oregon on other business and was looking at neighborhoods etc.  A broker mentioned Senate Bill 608.. it supposed to be a tenant protection bill, but it seems to be problematic to investors/landlords.  Are there any local (Oregon) area experts that have a different opinion.  Here is a link from the Oregon Realtors Assn.  Thanks for any and all input!

https://oregonrealtors.org/sites/default/files/Senate%20Bill%20608%20summary.pdf