All Forum Posts by: Jake Knight

Paint has become quite expensive and costs can certainly run that high.  Would also depend on if we're talking just the walls or the trim, doors and ceilings.  The problem with partial painting is that the old paint fades over time and you have to paint the entire wall for it to look good. Down here in Indy were about at $2 a sq. ft.

Given what everyone previously stated that I agree with, definitely check with your PM to see if they made an accounting error - that can happen from time to time.

Raising rent should be based on market rates in your market, there is no need to be consistent unless you want to be.  If I have one property at or around market, I would choose to keep in the same or raise it a little. If I have a property well below market, I would offer a more agressive rate to try to bring it up to market asap.

I've heard mixed reviews on it but we don't prefer to deal with Section 8 here, it's an arduous process. The demand for market rate is good.

This is why being a landlord can be unpleasant because you are dealing with different personalities. The lease establishes the structure for how the tenancy should go so I would just keep my communication in line with that.

I do agree it really shouldn't be this hard to get the information you need. I would also say, it's odd that she's paying cash for these things and has a great credit score.  Rental fraud is prevalent in our industry so be careful.  

Are you getting feedback from your showings?  The fact that you are getting showings is a good indication of interest and price is close to market.  Is the condition of the property good?  If you're trying to fill the vacancy as quickly as possibly you should price ver  y competitively.

Obviously this may vary by market but we would not accept partial payments as it does make things more challenging legally if you need to evict them. I would just set that expectation up front. Again, you market should dictate how you interact with tenants but generally speaking partial rent payments shouldn't be reasonable.

There are a ton of factors that do into this. In my mind, you only have control over how you market the property and how your respond to leads and where you price it.  

Are you able to gather feedback from your showings to gauge public opinion?  Also, I'm in Indy, this is a very seasonal market so time of year you put it on market is a big factor!