All Forum Posts by: Jennifer Rysdam

Do what you need to do to be happy living there, and then do the rest as you have time over the next year or so. That way when you decide to sell or rent out you'll be ready to go and not have the delays of remodeling.

On my 8-plex I put in LED lighting in the common areas since they're on a lot, especially in winter. I also put covers over the heat regulators on the common areas as they seemed to be magically turning themselves up too much. The covers paid for themselves the first month. I also do most work there myself. It saves a ton of money.

I think it really depends on the situation and what they are using electricity for. If they are having similar usage then it's easier, but you still may have disagreements. Is it possible to just split the meter into two? It may cost some money but then it's done forever. Otherwise, just bump up the rent and include it.

@Jose Ortega Yes definitely. Markets do change and things happen, but if you can turn it around quickly enough you can try to stay in the same market that you are comparing to. Good luck :)

Comps are what I go by. Find houses that have already sold and compare them to what your place is going to look like when it's done. Be sure to remember that age and lot size are important too, as well as outbuildings. I also will look up other houses that are still sitting on the market and see why it is they aren't selling. I try to make sure mine are at least as nice as the sold comps that I want it to price out at.

I would ask around first. Ask the realtors or other contractors who they use or recommend. I have not had good experience with people on different listing sights. 

I would make sure to get it in writing that they're leaving in 30 days. Be sure to keep all documentation, and even get more from workers that weren't let in to fix it or were given a hard time about getting it done.

It sucks, but you should pay it. Just chalk it up to learning for both of you. Next time you/they will now know to check that GFCI before calling someone. If you try to make them pay for it then who knows what they'll do the next time something doesn't work? You wouldn't want them to try and start fixing things themselves to save money.

I haven't done this, so this is just my thoughts and not experiences. I would run them just like a regular tenant. Do background and credit checks. One other thing you should consider is writing out every rule you want them to follow, and be sure to be up front about them. Sharing spaces can get tricky and you want to be sure there aren't awkward situations right from the get-go. Rules about use of kitchens and common areas, visitors, quiet hours, etc. If I were renting out rooms in my house I'd probably provide them with a mini fridge and microwave. Maybe even one of those conduction hot plates (they don't actually get hot). That would allow them to do simple things in their room and it would be more like a studio. Do they have their own bathrooms? Maybe rules about shared bathroom spaces, etc. If it's just you (not married, no kids) then maybe stick with renting to just men. That way you won't have to worry about lots of bathroom use or awkward men/women situations.

Good luck!

I use Facebook, apartments.com, and zillow the most. Once in a while I'll use Craigslist but I've found that I end up with calls from people who don't live anywhere near my building. We are about 40 miles outside of Sioux Falls and I've had 2 people decide that they'd make the drive to save some cash on rent. That didn't work out so well and they ended up moving before too long. I now let people that call from over there know that the drive will kill them and it's not worth the $150 they'll save on rent. :) 
I also have a website that the ads direct them too. That saves me a lot of time and energy answering questions. It's also clear on my requirements of clean criminal record and decent credit, my pet policies, and includes lots of pictures.
I have a Google Voice number that directs to my personal phone. When my units are all full I send it straight to voicemail, the message tells them that we are full and to please check out our website or leave a message if they have any further questions. It works great!