All Forum Posts by: James Barnhart

Why do you use leases? I really want to know?

I ONLY rent month to month and either party can end the agreement with a 30 day notice. It works great and I have never any pushback. Tenants like not being tied to a lease and I never have to evict anyone.

@Darius Kellar

What? You say Realtors should be REQUIRED to put properties on the MLS? If I tell Realtors what I am wanting to buy, and they call me with one. it gets sold. How in the USA is that wrong? Build your contacts with Realtors. We don't need government running small businesses.

No, there are many applicants every time, so I am not that desperate. Why ask for a problem?

Welcome to BP.  There is an enormous wealth of knowledge and wisdom to be learned here.  

In our rentals we had carpet put in, like is in the bedrooms.  But, in the small closets there is no padding and it is not fastened down with tack strips.  A painted floor is not very inviting.  

We only rent to good quality tenants and to do that, we have to offer a nice place to live.  I don't think all tenants are lower class people just because they rent.  

There is a lot of good wisdom given to you here.  

In my opinion, you definitely have to know who you are renting to.  I ALWAYS require tenant screening through mysmartmove.com.  The applicants pay for their own screening at that site.  The site then sends you an email and gives you their recommendation on them.  

Also, before you get that far, be sure to have a casual conversation with them, asking about their lives, hobbies, work, etc.  (not interrogation, just a chat).  Get to know them a little.  People like to talk about themselves and you can learn a lot about who will be renting your house.   That will help you screen out some people.

Never let anyone slide on late payments.  You are running a real business and you need to get paid.  Have a system in writing for how you handle that, if necessary.  

Best of success to you!

it is really interesting to see what rentals are like in various parts of the US.  

Here in central Florida,I post a vacancy on Craigslist and Zillow.  Within 2 days, I have 10 to 12 people interested and still more keep calling.  There are not enough rental homes here, but there are a lot of apartment buildings.  So, finding good tenants is not hard.  

I ONLY rent month to month to everyone.  (no leases)  I tell them I hope they stay a long time, but if their life situation changes, they only need to give me a one month notice, and they like that.  I only have to give them one month notice if I need them out.  

I have never have had to evict anyone.  I have sent a 30 day letter to a tenant to move out, when I found that they had moved 2 extra people in.  They moved at the end of the month.

Each time I get a new tenant, the rent goes up, because the area rental prices are up again.

I see many concrete block homes expensive homes that have 3 sides block and 1 side frame, so look for that.  Areas such as bay window bumpouts are usually frame too.  Brick homes are usually frame, with a brick veneer in front.

I see stucco over frame that goes all the way down to the ground, instead of stopping it 6" above grade.  That's asking for termites or carpenter ants.  Also, many block homes have frame columns at the entry, covered with brick, stone or stucco.  So, if you only want block, be sure that it is ALL block, not mostly block.  

An acquaintance of mine bought a home where a few people were murdered over 10 years ago.  It was for sale a few years later, but no one would buy it, so he make an offer to buy it below the market comps, and it was accepted.  He said, I don't care about the home history, but it will just be a good rental.

If there is CPVC water supply tubing in the walls, the hot water tubing will expand and contract.  And, if it has tubing clamps over it, the CPVC will try to expand and move.  When it finally does move through the clamp, it will make a pop sound.  

If someone gets up in the morning and takes a shower, often the hot water tubing will pop.