All Forum Posts by: Julie O.

I also have my tenants deposit directly into my account at any branch of my credit union.  They can do this in person or by mail with the pre-printed deposit slips I give them with their lease/welcome packet.  Several of them don't have a checking account, they find this to be very helpful and convenient.  I also offer to help them set up an account of their own at my credit union, even going so far as to pay the $25 "fee" for them to have this account.  (Credit unions don't typically charge a "fee", you just have to deposit this amount into an account and leave it there.)  This way they can pay online by electronic transfer into my rent deposit account and there is no transfer fee charged.  It's a small expense for me and a good way to start off our tenant/landlord relationship.

My rentals are all town homes.  I always introduce myself to the neighbors, let them know how to get in touch with me if there are ever problems with my tenants.  Little did I know I'd purchased a place right next to a crazy lady.  For a while, she was calling me every week to tell me that, "Your tenant is using all of the electricity and it's making my lights flicker.  You've got to make him stop!"

K. Marie, you don't say why you're marketing for homes. Are you wholesaling? Flipping? I do a little flipping, a little buy and hold. Since I decided it is not in my best interests to be a realtor, I have a great relationship with an agent that not only lists my flips, I also buy from the MLS sometimes. She's a great resource for comps and lists my flips for a very fair commission. So when I run across a deal that's not right for me but would be a great listing, I always refer the seller to my agent. I often feel that she works a lot harder than is warranted by the small commissions she makes from my deals, and I'm happy to help her make money in other ways. So I can't tell if you have a relationship with an agent already, but perhaps it would be good to cultivate one. You may not benefit monetarily, but it never hurts to have someone in the business that owes you a few favors. :-)

Yes, in Denver $12-$15k is a total rip-off UNLESS your sewer line runs under the driveway. I had one like this. Got a shiny new driveway out of the deal, too.