All Forum Posts by: Jason C.

Hey there BP! Do you all have a stated "broken lease fee" in your lease? Usually when someone breaks the lease, they disappear completely on me and leave the house in bad shape, so return of any part of the deposit is not something I am considering. However, if they announce they are breaking the lease due to an issue that is not my own negligence (a house burglary in this instance), do the other landlords on here typically have this fee spelled out in the lease? 

The lease document I have used for years allows for early move out in cases of military deployment and domestic violence, which I believe is part of Texas law anyway. I had signed this tenant up for a 12 month lease,  and they are about 6 months in.

Thanks!

Way to go Jason C! Great to see the Jason C's of the world out there meeting their goals!

@Tristan Colborg I wonder why you told him you had other bids lined up except to show him there was only a 1/3 chance that he would get the job at all. I am not a contractor but damn that looks rude to me.

Also I read on here about investors providing their own contracts and all that but I doubt any contractor I’ve ever used would’ve wanted to work with someone who insisted on using their own contract. Unless you are a huge player of course.

@Nick Mess absolutely get a truck or a work van. You severely limit your ability to self manage in this business if you can’t haul a sheet of drywall or plywood or a couple of studs from time to time.

Of course I’m from Texas so we prefer trucks round here.

@Chas Noren

I see old listings sometimes. It’s usually bc it’s run by a poor property manager who does not answer the phone or return calls. It may already be rented and they didn’t bother to remove the listing.

I have come to believe that renting a house is the easiest part of the process. Finding a deal is much harder. Getting a lender to believe it’s good enough to loan you a sack full of cash is another issue. Dealing with contractors is another headache. But finding someone who wants to live in a fresh new home is not hard at all.

@Mark Fries

Are you using a stated (actual cash value) type of policy? If you are carrying replacement cost insurance and buying cheap houses it doesn’t really make sense.

I saved a lot of money after I found a carrier who was more flexible with the value of the coverage I could buy. So that may be another option.

@Ryan Murdock

Totally agree with this. This is why I am a huge proponent of self managing. Sometimes on a Saturday I might have 4 or 5 of these 30 second fixes I can knock out at different units which may have cost me $500 or more to handle with a PM or contractors.

@Brady Boyer

Do the make ready items yourself and show the apartment while you are there handling touch ups and all that, open house style.

This won’t eliminate people no showing you but at least you won’t have made the trip for nothing.

@Sharron Morrow

My properties average 750 a month and I take the dishwasher out and put shelves in. On my properties that are over 1,000 a month I’ll leave it in.

Wait till they move out and the dishwasher broke a couple months ago and has been leaking water out under the sink. Or the pump stopped and the standing water has been there long enough to clear the room when you open the door.

Update to this story-for those that read it and took an interest, thank you!

I got the police report, and it was not an accidental discharge at all. My tenant tried to kill her boyfriend in my living room. He and another person were injured in the attack. 

She is out on bail now, and I am kicking her to the curb.

Again, thanks for your comments!