All Forum Posts by: Jason Cacioppo

Rent it out by the room utilizing the Scarlett Method. Arvada allows 5 unrelated tenants to live together, if I remember correctly. 

You're property manager sucks, get rid of them and self manage. Also, you probably shouldn't have purchased.

@Brian Bender i personally would never withhold being the owner (in any event). People do this as a way to deflect responsibility and avoid conflict, which doesn't actually help. My approach is the exact opposite. I have a question in my pre-screening process that states "My goal is to be profitable as a landlord and i'm fairly transparent about this. I mention it because i want tenants to know i'm running a small business and i'm not in a position to be charitable. Would this ever cause you distress"? I want my tenants to understand my goal is to make money, if they gather animosity towards me because of this, they shouldn't be tenants. You need a strict pre-screening process. Probably the most-strict because you are living with them.

@Brian Bender yes i currently do this with three single family homes. For my primary residence, i do have one tenant who resides in a basement suite with a partially private entrance. Residing in the same home along with several tenants changes the dynamic quite a bit so it tends to stray away from points discussed within the essay. 

@Evan Jackson you can probably click on my name and see my posts.

@Evan Jackson you'll probably have to email the city if they dont have it posted on their website.

The bank you get the loan from will require you to have landlord insurance on the property. You can try to force tenants to purchase renters insurance if you want, but that will shrink your pool of candidates. 

Rent it by the room. Find out how many unrelated occupants you are able to have in one property as per the city code. If you're able to have 5 and the house has 4 bedrooms, build another room or divide up a large room. Each person should get there own lease. Don't allow couples, children or dogs. Go read my essay on the SCARLETT Method.

@Andrew S. On a similar note, ive done away with wax rings across all my properties, i like the Fluid Master rubber ones. So much easier to work with.

That's nothing, i had a tenant ask me to "come over and look at the remote for the TV" because it wasn't working. For needy tenants like this its best to tell them "no" early on. I've gotten into the habit of saying "yes, but it will have to be next time i come to the house". I go every two weeks or so to cut the grass.