All Forum Posts by: Jim Shepard

Unless this is an upscale house, I wouldn't spend the dollars on it.  I put it in my personal house and it was a couple of grand.   The company had to come out 4 times the first 6 months to keep it from leaking.   I agree with Steve Babiak that they will leak.  Ours did and we ended up putting a piece of plastic molding at the bottom for a better seal.

If you have to meet them for the move out inspection take a witness with you. Also keep your camera on your phone going entire time. Or use a voice recorder. I would agree that the coat hook should not have been installed where it is. I put a provision in my leases a number of years back telling the tenant they have to have the carpet professionally cleaned and provide me a paid receipt. I'd enforce that and subtract from deposit if they don't.

Restaurants come and go.  If you end up adding on I would suggest that you get personal guarantees (if you don't already have them) and also put a 2nd on their house.  They will think twice then before just closing up one day and your are left paying for the addition.

Your most important asset that you possess is your time.  I do not set up individual appointments for showings.  Only half the people will actually show up for the appointment.  Some are tire kickers.  A lot do not qualify.  I always do an open house instead.  You create a lot of excitement having that many people in the house at one time!  The trick is to quickly evaluate the people and if they don't meet your criteria, move onto the next prospective tenant.

I would cash the check and then send them a certified letter "did you forget about the rent increase"?  Give them 5 days to get the balance to you.  If they haven't paid up by then, send them a 3 day notice to quit.

I'd pursue a judgement. Yes it is probably throwing good money after bad but you never know. Maybe they will win the lottery, inherit some money? A judgement will also alert a fellow landlord about the problem. Do you wish someone had done that for you? So your fired PM wouldn't have cared...but every other business savvy person would have.

Wayne, Lighten up. We are all here to share ideas and make money! Some ideas are good and others aren't.

I'd just let it go and unfriend her.

I'd suggest discussing with your attorney as state laws vary. If he is dealing as suggested by the charges, it could be nothing but problems for you in the future. Get him out of the house but do it legally.

Greg, I will normally let a tenant be late once but I send them a letter stating the terms of the lease. After that I enforce the late fees. I am concermned on your late fee amount of $25 per day. If you had to take someone to court the judge would probably throw it out. The amount has to be "fair and not excessive". My rents are $700 to $1000 per month and I charge $5 per day starting with first to a max of $50 per month. Don't let your tenant move someone in without going thru credit and background checks. If they don't mert your qualifications, don't let them move in. Otherwise you could get another problem with a felon, someone that has been evicted in past, no income,etc.