All Forum Posts by: Joseph McCrillis

@William S.

I'm out of state and my rental will need a new tenant. I will self manage, but I'm looking for creative ways to place a tenant. So far my plan is to either hire a PM for placement or market it wherever I can (I assume I won't get in the MLS). Craigslist, Zumper, Facebook Marketplace, Zillow and whatever else I can think of. I'll require an application and credit check up front (not sure the best option for this and background checks yet) and try to minimize my potential pool of tenants. Then I'll have a phone conversation and try to hire someone to meet them at the house. This should only be a few families before I get a signature.

My question is do you have any ideas on how I can improve or alter my plan?

Who can I hire to walk them through and how do to get the final keys to a tenant? Also an pre move in inspection video walkthrough would be nice with the new tenant.

This is where my plan has holes. Who is the best option? If I pay someone $50 to show 4 times and then I pay them to to do a video walk through, assist in singing papers after walk through, handing off keys etc I may end up spending $300-400. I wonder if I pay a few hundred more to a PM and I don’t have to do any of it.

Anyways, cool post I’ll consider any ideas you have. Thanks!!

@Account Closed In that scenario, only one tenant would be on the bills with the city though, Right? 

@Jennifer T

@Jennifer T. Solid example and point! Thanks!

@Adam Martin 

@Jeannette Funes

I did consider sub meter, but I wouldn't be around to read it. If I go through the city and get a proper one, I'm told that they may not give it on a smaller lot like mine (I will investigate) and also I may be opening a can of worms since the GH was built here decades ago. The can of worms may be a lot of money bringing it up to current code if and if/where it isn't up to code. Thanks guys! 

Well...I’m looking for out of the box thinking for my particular scenario and maybe I should’ve given more information on my situation. 

I’m asking this question because I own a property with a guest house on it in LA. Currently the guest house is not separately metered for water or power. As it stands, I live in LA and manage the guest house as an Airbnb. In a few years I’ll be leaving LA and when I do, I’ll want the guest house and the front house to both be long term renters. 

So looking ahead, I think it would be ideal to have separate utilities. That however can be costly and complicated. 

As an alternative I thought that I can have the tenants just pay percentages of the utilities and let them work it out. For example the front house gets the bill and the guest house always pays X% billed by the main house. 

As yet another alternative, I thought that maybe I just pay for all the utilities and rent both places out with premium rents that reflect the benefit of utilities included. I then realized that I might be able to write off the utilities and could be making more money by charging more rent for the luxury of utilities included as well as write off the utilities as an expense. Maybe this is a strategy I’m unaware of. 

I'm aware of the extra steps I'll be taking by paying for the utilities and the fact that if the tenant doesn't pay rent, I am ALSO on the hook for utilities not paid. However, I assume they will all be legit write offs and wondering if in the best case scenario, it is more profitable in the end? 

@Hieu Dang

Did you ever share what’s you gathered? I’d love a peek :)

I got an email to confirm my registration but no link to enter webinar so I missed it. Did it get recorded for online or another source of viewing? 

@Michael Ealyundefined

@Chela O'Connor How did you two end up doing it? If not as expected, what would you suggest you could've done differently...or how would you advise someone else in the same situation?

Best holiday gift this year! 

Thanks...Ill take a look