All Forum Posts by: Joy Allen

What are the credit scores? For me that is the biggest indicator of what kind of tenant they will be. Responsible or not so much... 

@Tina Lee I had 2 tenants who would pay late, each one was told there would be a $50 late charge. One has never paid late since then. The other one regularly sends the extra $50. I don't mind him paying late as long as he pays and doesn't forget the extra payment. I would only replace the tenant if you are afraid at some point she won't pay at all otherwise why incur the turnover cost?

@Mary Ainsworth definitely do a house hack! Get an FHA loan and put less down. I have three condominiums and the HOA is always a challenge. Maybe I have just had bad luck but I'll take a house over condo any day!

@Kelly Cochran We manage our place in Virginia from California. With Google and Yelp and other places for reviews. It's very easy to get folks for repairs etc.

The biggest deal is having a good cleaning team. They can alert you to win. Something needs to be repaired. We found our team through a referral, but I'm sure turnover B&B would be a great resource. You can totally do this, especially if you're only 40 minutes away!

Hello,

I need a real estate bookkeeping accountant team that I can actually just call if I have a question about what they are doing with my books without being pushed off onto a calendy and told My business doesn't include engagement. I am currently paying top dollar and I would like to be able to ask an occasional question from a knowledgeable provider. I've gone the single provider route and lost everything when she had medical issues. Anyone know a small team they could recommend? Thanks!

Hello

I have 3 rentals in 3 different housing authorities. I have not had a problem increasing the rent to market value in 2 out of the 3. To be honest I wish all my rentals were section 8. I am not great at raising rent on folks when I know it is coming out of their pocket. Biggest piece of advice I have is check credit. My tenants all had fair credit but no evictions and no collections. Most responsible people have decent credit and no way do they want to lose thier vochers.

Hello,

I am looking for a great commercial property manager in the Front Royal Virginia area. Any recommendations?

Thanks! Joy

Thanks! 

Are there any short-term rental landlords out there who have great lenders in the Shenandoah valley area in Virginia they could recommend?

@Jacob Beg

Ask for the late fee. I was in the same situation and I simply had a conversation with the tenant and let her know that I too have a late fee if I'm late paying the mortgage. I asked her to add an additional $50 if it was after the 5th. I don't know if it was the conversation or an additional $50 actually carries that much weight but I was stunned by the results! She has not been late since!