All Forum Posts by: Jonathan W.

@Martin Gonzalez not enough info obviously what a lot of people said

But in my experience and with my boss

5 bedrooms don’t rent out quickly like a 3 or 4 bedroom will.

Sounds like you got to wait a little longer for those people in the market for renting out a five bedroom

Good luck

@Zachary Bellinghausen

I always liked the idea of upgrading something in the property rather then giving a rent reduction. If you were to meet them in the middle and reduce rent by 25$ a month(300$) or 50$(600) it’s as if you bought them a new appliance but get none of the benefit.

There is no wrong or right here but weight your options and benefits.

I personally wouldn’t reduce rent but if you were, try a little off like 25$ and maybe offer them a new microwave(cost about 300$ but you get the benefit of an upgrade appliance when they leave next year)

I don’t know your market well enough to give solid advice on what you should actually do so I’m just offering perspective

If they are good tenants and you want to keep them then maybe give in a little, it’s not the end of the world whatever you choose, sounds like your not in a bad spot and ideally you want to keep tenants.

Also if you found out your median rental prices before would you still have charged 1400 or would you have charged 1350$?

It were vacant today would it rent for 1400$?

Sounds a lil like might’ve gotten lucky with what you charged them and they are figuring that out after talking to other people throughout the year about their rental rate.

I really like the person that said call their bluff but these guys might be upset now they understand the rental rates around hem better.

Is the unit upgraded at all?

You got to remember, yeah you hate turn over but people hate moving just as much but people hate feeling screwed over more then anything. Will you feel screwed over if you reduced rent?!

Don’t offer too much off and try to substitute an upgrade instead of rent off! In my opinion

@Cameron Riley no because he probably can’t afford to live or be around you either but no. You’re not a charity

You do not supply free housing

Nothing is free

Be it a lesson in responsibility to him to not make financial commitments he cannot keep.

Was he 20 years old and barley able to afford rent and a little in over his head? If he was then maybe there is slight guilt as you shouldn’t have accepted him but in general no.

However if you have a bad screening process this will likely happen again and then it’s not guilt you should be feeling but just shame for doing a poor job

@Nick Rutkowski. Yes buy low and sell high also involves buying the crap out of real estate during a recession. Yet again stocks bought at the low point during the recession has phenomenal returns.

I am very optimistic about the next few years.

We have a president who understands economics for once. All worries state by the media could be worse but they aren’t

Lol....🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️

I am technIcally a Millennial. MOST Millennials and economics haven’t been properly introduced. I DONT THINK THEYLL EVER GET ALONG

@Libo L.

Without paying the current months rent?

Don’t you collect rent on the first for that month?

I agree with everyone else and don’t work on going after these people, if it happens work on getting new tenants and enjoy the old ones security deposit

@Chase Williamson some tenants are smart or stubborn...but for the most part you should be able to SELL them on the rental increase. Yes your an investor but your also in the people business and the sales business in a sense.

Do it right or with some sort of sales tactic or don’t do it because if you could lose a tenant.

@Isaac Pyle silly question and no. Your contracts your policies and your demeanor do the talking. Now if you play it like the nice cool young landlord there is a chance that they’ll think your just some trust fund baby or someone they can take advantage of but also that can happen to anyone of any age so....your thinking too much

@Collin Schwartz let them! It’s great! When they return the property to you they have to return it as it was so you don’t have a problem there but obviously if they upgraded a few things that is awesome for you. Free upgrades?!! Whatever you do don’t be paying for it or don’t pay them for the work of installing it or anything like that

@James Wise

Thank god his videos were too boring to watch that I found other non hack resources !