All Forum Posts by: Jason Cacioppo

Im curious to see how it turns out.

I just realized I hadn't made any yet.

Christian, there's only cons to renting to couples. When I posted my spare rooms on craigslist I probably had about 4 couples inquire. They were all in the same situation, one person was on disability while the other worked. The way I thought about it was that one person would be home all day using utilities and actually be in the house more than me, the owner. You have to consider the foot traffic and use of appliances with potentially 6 additional people plus you and your fiancé. You also need to think about their property. Can they really fit all there belongings into one bedroom? Of course you don't want all their furniture in your living spaces. What if they argue? You have to listen to it. Moreover, if it takes 2 people to come up with $600.00 a month, they may not be the caliber of person you want sharing a roof with you and your fiancé. If you're new to this experience, choose wisely so you don't have a horrible experience. I'm attaching my house rules that potential roommates must agree to. I'm very strict and picky because the income is just bonus money, not a necessity to pay mortgagee.

                                                                       House Rules

1. Common areas are to be kept clear of clutter, personal belongings and clothing.

2. Everyone is expected to clean up after themselves in a timely manner, to include but not limited to; doing dishes shortly after a meal is complete, putting items back in refrigerators or cabinets, etc.

3. No food or drinks are allowed on sofa or in bed, coffee table and computer desk is fine.

4. Guests are not allowed over during the weekdays. Guests will not be allowed over past 12:00AM on weekends. This is not a party house, we won’t allow several people coming and going throughout the week.

5. Your utilities are paid for, yet please be mindful of electricity and water usage. For example, try to avoid leaving lights on when you exit a room or opening windows while AC is running.

6. This is a smoke-free and drug-free home.

7. Housemates are responsible for their own food, drinks, condiments, cleaning supplies, hygiene supplies, etc. unless agreement is made or purchased as a shared item.

8. You are renting one bedroom and bathroom; these two areas are all yours, the master bedroom and 3rd bedroom are not to be entered. Everything else is considered shared spaces.

9. We will either schedule a time to have a deep cleaning session that works for everyone or have areas that we are each responsible for.

10. Additional furniture may not be brought into shared spaces with the exception of the basement which can be used as a storage area.

11. Sleeping hours are from 10:00PM – 6:00AM Sunday through Thursday, during this time, we expect to have tv’s, computers and conversations lowered.

12.All housemates will practice safety such as not walking away from stove while in use, not blocking exits, being mindful of candles and practicing common sense.

If you gave a verbal commitment to the first tenant that they would receive the property and you would meet to accept the deposit than you should certainly keep your word. If you were to have stated you would "follow up" with them later than you would have had the opportunity to consider last minute offers. Don't feel bad though, a lot of people are bulls***ers and will say anything to get your attention. Its likely that the tenant claiming they would pay more were not actually serious.

  I would specify in the ad that the rooms are for only ONE tenant each so you don't have couples trying to share the room. I like to get to know a person via text first before offering them a showing. If they don't have the patience to answer a few questions via text, you may not want to live with them. The standard questions I ask are: What would a background check reveal about you; what do you like to do in your free time; are you currently in a lease, if so, why are you leaving. I generally avoid people with no rental history or who still live with family. You could also do an month to month lease just in case the person isn't a good match. Many people can afford the rooms, but you should be very picky with who you live with. For example, a trucker can easily afford the $600.00 in rent, but do you really want to live with a 55 year old female trucker who drives nights and therefore must sleep during the day? I also created a list of house rules that I send to candidates who make it through the initial questions. If they have any strong objections, that's fine, you potentially just saved yourself a world of frustration. You really need to lay down rules about visitors, drugs and animals.

@Ben Einspahr When I purchased my home in Commerce City I called the first person listed on Zillow next to the house I wanted. When they didn't answer I called the next one. I told her flat out more or less that she needs to match my schedule and show me houses when I'm available. Her kids baseball game was irrelevant to me. If you have already been through the buying process before, you don't need a rock star agent because typically they claim there booked.

@Julie Hill Count my wife and I in for that coffee date. We live and own in Commerce City.

While I'm not much of an investor yet, I do notice a correlation between maintaining a healthy exercise regiment and overall will to be better. I typically go to the gym between 3 and 5 times a week, consistently. And as I go, I notice myself sleeping better, desiring healthier foods and thinking clearer. Great health should come first, always, more good things will follow as long as one can do that.

When I bought my first property the previous owner allowed cats. They peed everywhere too. What I did was removed all the carpet which was trash anyway, then painted portions of the subfloor with Kilz Original. If your not willing to rip out wooden floors then you may try a strong cleaner with special enzymes for breaking down the smell. It sucks that it soaked into hardwood floors. Smells stick to glass too. If you have a bunch of mirrors or windows, try cleaning the  interior of them. My last tenant was a smoker unbeknownst to me, and a lot of the smell dissipated when I cleaned a large sliding glass door with a mirror finish.

I would say yes. Let them use the internet, but not for free. During your next opportunity, draft up a document with an additional charge. Maybe $10 or $15 a month, its affordable to them and fair to you. Ultra cheap internet should be a selling feature for future tenants, not something you give away absolutely free. And yes, you should  have a blurb in the document stating that internet activities must be legal. You may want to write a clause stating that you can end this agreement at any time, just in case your speed turns to crap or you get dinged by your cable provider for illegal downloads.