All Forum Posts by: Jake Knight

Some interesting takes on here and it's a really subjective thing.  You'll have to find your comfort level on how you want to manage it.  If you look at things through a financial lens, follow Nathan's advice.  If you don't want to rock the boat, you can raise it over time.  If you go to that tenant with a $300-$400 it's almost certain they will leave.  I imagine Cleveland is fairly seasonal so she would be moving during your slow season. It may not be a bad idea to have a real conversation with the tenant and educate them on your plans and how far below market they are.    Best of luck!

I think it's really important to include the language in the lease.  I would ask if the filter was replaced before they moved in?  Like many have said here, consumables are reasonable for tenants to foot the bill and replace themselves.  If that isn't outlined in the lease, I would do that at renewal but potentially include that until that happens. 

Every market is different but that's not that much time for it to be on the market.  Location is a huge factor in pricing and even though your home was renovated nicely, $300 more than the top average is significant.  I would wait to lower the price myself until about 3-4 weeks.  At that time, I think you may want to be more in the $1,900ish range.

I would definitely leverage the BF whom is still responsible since his name is on the lease.  I would make sure he understands his role on this until that lease expires.  I believe you mentioned he had great credit. One would assume he would want to keep that in good standing.  Once the lease expires, provide notice to vacate to both parties and move on from them.  I wish you the best and like Michelle said "welcome to the party!"

Congratulations on taking this big step! At a very base level, make sure the property is up to health and safety codes for your location.  In my location, if a window doesn't stay up on it's own that would be a safety violation.  Also, try to depersonalize the property as much as possible and get it in a state that looks like it's well managed.  If you feel like the carpets are really worn, I'd replace that.  That's attractive to renters.  I would make sure wall colors are neutral, etc...

You have every right to turn this down, for any reason.  I would ask, what's the upside to adding him to the lease at this point?  If you can't find an upside, I wouldn't.  Like another said, almost every time you make a compromise, youregret that later.  I would be as consistent as possible.  

It can be multiple factors.  You'll need to have them provide you a comparative market analysis.  Zillow is the biggest real estate website but it helps listing on other sites. If Fayetteville is a seasonal market, I would get very aggressive on price so you can get someone in before Winter.  Good luck!

It's definitely market dependent but we've seen a slow down here and we're more affordable than your location.  This is not unusual here, our markets are very seasonal.  It's also an election year which can affect people behavior.  I would be aggressive with price drops and try unique things to make your property stand out.

We just charge a trip charge at the time that we do it of $75.  We work with a company that delivers furnace filters to their door every quarter.  We call this a resident benefit package which also includes renters insurance.  We charge the resident $45 a month for that so it's not a client charge.  It works well and doesn't give the resident the agency to make changes or cancel policies we require.  Also, they're more likely to change filters if they are delivered so little to no effort on their end.  Hope this helps!

Hey Yarden,

We're a local PM company, let us know if you have any interest in working with a PM company to manage the property.  Happy hunting!