All Forum Posts by: Jim Shepard

I would send them a letter now telling them they owe you $700. I'd tell them that you admitted your kids did it to my plumber while he was replacing. If you don't do it now damage will continue and your security deposit won't be enough.

I would agree with Jd Martin.  Open Houses are the way to go in my opinion.   I don't waste my time with appointments because half the time the tenant never shows up.  I normally do Sunday from 1 - 2 pm and Wednesday from 6:30 - 7:30.  I'll have a few little projects still left to be done so I have something to do.  It also creates a sense of excitement having 2, 3 or 4 groups coming to look at the place.  "I better grab it now before someone else grabs it"!

Three of my rentals are in Florida and I always go with tile.  That's what everyone down there wants and its durable.  Like everyone else has said, make sure you get extras.

I am going thru the same situation right now with a tenant.  Fortunately I've been down that road before and my lease has a section that deals with it.  I charge a $500 "break the lease fee" plus reasonable advertising.  They have to continue to pay the rent and utilities until I am able to rent it.  The current tenant wasn't very happy but oh well it's a business and I'm not the bank of dad!  They thought I should just let them move out because they are a young couple just starting out.  I told her I was an old fart that had a loan!  She got indignant with me and started saying "so what will you do if we don't pay you"?  "I will take you to court and then garnish your husband's paycheck.  How's the Sheriff going to take it when one of his jailers (husband) has a rock on his paycheck"?

The trampoline needs to go.  Let's say she has renter's insurance.  It probably maxes out at 50 or maybe a 100K.  How much is it going to cost if someone were to break their neck?  A lot more than 100K.  So then their attorney goes to the deeper pockets (read that YOU).  Who has the most to lose in this situation?  Bottom line, either the trampoline goes or she goes thru an eviction. 

If you don't take  a stand now she will then have to have a pool (another liability you don't need), then the kids will need a couple of pitbulls, etc.  Nip it in the bud now.

If the son is the only heir I would go back to him. Since he is in the military you might tell him that you will pay off the liens and donate $5000 to Wounded Warriors. He might be willing to do that. If he is willing I would definitely get an attorney involved for all of the paperwork.

I always get ALL of the money upfront.  You are holding the house for them for a month, what if they decide they don't want it?  I actually won't hold it more than 2 weeks or I keep showing the house.  Many will tell you to get certified funds so they can't just put a stop payment on the check.  I will accept a personal check (I've never gotten burned yet) but I make sure that I cash the check immediately.

Do not give them the keys until October 1st or they will move in early!

You won't be able to change the lease since it is a legal document.  You would be violating their rights by changing the lease after you own it. 

If the owner is smart, he will file a lien against the property since it is financed.  I think that will trigger the debt on your credit report.

There are a lot of different opinions of how to handle the problem on this forum.  I think the path you will ultimately take depends on your own style of handling problems.  Personally I would go out to see what the problems actually are.  Since she is 36 I would take my wife or a friend as a witness, that might be why her parents are there. 

If the repairs are necessary and not just cosmetic, I'd get them taken care of in a timely fashion.  If they are cosmetic, I would tell her (them) that the house was accepted "as is".  I would take the condition checklist with you filled out with as much as you can remember.  Have her fill it out while you working on any issues.  I would then explain to her that for any future repairs they will have to be in writing so that you don't have to make multiple trips.

Send her a letter afterwards telling her the repairs she requested are finished.  That all future repairs are to be in writing per the lease.  Then spring on here that you noticed she has a trampoline in the backyard.  She has 3 days to remove it and is in violation of the lease.

I handle my tenants just like I handle my employees.  I tell my employees their first day of employment that I can be the nicest guy they know or the biggest jerk they have ever met - they get to chose!  I've only had to bring out the jerk a couple of times in 12 years of landlording...

Dina, I just googled St. Peters, MO and you need to get an occupancy permit before renting it. I don't suggest you try and rent without the inspection as they will be a lot tougher on you when the city finds out. You could also be looking at some liabilty issues.