All Forum Posts by: Julian Colvard

What is the reason for trying to show while tenants are currently there?

I just wait till they are gone for the following reaons:

1. They may move out at a later time than expected which can throw off all timing for the next tenant to move in which could put the new tenant in a situation where they have to stay on a hotel due to leaving their last residence.

2. Handymen and vendors do not always follow through on the days / times they tell us they will be there to complete the job we've hired them to do which can also throw off timing. 

3. After the tenant moves out, there could be a repair discovered that will take more time than expected and the turnover time may take longer. 

4. Unless the tenant is organized and clean, units show better and more applications are received (generally) when the unit is showed vacant.

What you have in mind is fine and pretty standard. I give my tenants an option: pay monthly or one fee upfront. The monthly amount adds up to be 50% more than the fee. 

example : 300 upfront fee or 450 paid over 12 months (37.5) which is added to their rent. They almost always go for the monthly payment. I do not state the total amount the monthly payment adds up to however when presenting them with the option.

Definitely resolve what's causing the mold to build up. Then you could go over the mold with 'kilz' paint, or simply have the dry wall replace (which is what i would do). 

My lease states that the tenant is responsible for pest control. That is there issue to resolve. Being that you are in FL, a landlord friendly state, that would be a clause you could add when it's time for a new tenant or lease renewal. 

There should be a 'hold over' clause in your lease stating that there is a per day cost of staying in the home. 

If they are currently working on getting out of the home, you can charge them the holdover amount or sign an agreement with them to deduct it from their security deposit.

If it were me, I would send them an eviction notice via email and certified mail. There's a clause in my lease that charges them per eviction notice. Then after the notice, I would file the eviction. They will only go as far as you let them.

ARV

- renovation

- profit 

- agent commission

-  holding costs

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Max allowable offer

The amount of space, whether you add a bed & bath or not, is enough. What really matters is the bed to bath ratio which you will have either way. So long as you have at least 1 bathroom for every 2 bedrooms/residents, you will be fine. 

What's goal of the house-hack?

When renting a home by the room, do you all have any stipulations in your lease that are specifically for a rent by the room situation?

Investing in what capacity? 

 Which Emory, the one in decatur?