All Forum Posts by: Kathleen Leary

They entered into a (hopefully) binding legal contract with you - stick to that & don't even get into anything personal! I had to serve a 3-day on a tenant (partner bailed, etc.) & although I certainly sympathized with her situation, I don't run a shelter. It's my business. That's why there's a contract: to keep business, business & personal, personal.

I too, change them myself. Also the smoke detector batteries twice a year. Helps me keep on top of other repairs, bad housekeeping, etc. It also lets the tenants know that I am involved with the upkeep & ongoing maintenance - they are not nearly so likely to destroy things. (No guarantees, of course!)

Put the time on your applications when they're completed & turned in to you - if there's a question who was first (assuming you get more than one qualified applicant!), you can stick with the "first, come, first served" rule. Make sure the applicants know that, too. 

Good luck!

Friend of mine got a '91 Ranger for $600, then got it licensed, insured, new stereo, minor fix-ups for less than $400. So for under a grand, he got a great truck that's already kinda beat up-looking (a few more dings won't matter!), gets good mileage, cheap to insure & hauls anything he can load it up with. (He hauls a lot of scrap metal.)

You don't have to spend a bundle for functionality. Appearance may be another matter.

I go through & take photos of all walls, ceilings, floors, doors, woodwork, fixtures, appliances, curtains, etc. plus any areas that have damage (dents in doors, small hole in carpet, etc.). All pics are burned to a CD & given to the tenant at lease signing. They are welcome to take their own photos as well. There is a place on the lease for them to sign that they did receive the CD. At walk-through we have a checklist (which I have prepared ahead of time) & note anything else. I'm pretty thorough, but you never know.

I think that just having ample documentation, shared with the tenant,  has been a deterrent to a lot of potential problems. 

I've got four in a six-room house! I also replace the batteries myself, twice a year. This does a couple of things: it gets the batteries changed & since I did it, I know it was done. Second, I can visit & see how things are going overall. Third, it gives a good impression in that I am an involved landlord & not some faceless entity they send money to. It's worth a few minutes & a few bucks, even though it's not legally my responsibility (here) to do so.

Consider, too, how often you might need to use a pressure washer. It might be worth purchasing one - with a little careful shopping, you can get a pretty decent one for $300 or so. Granted, you have to store it & schlep it back & forth, but if you need to do multiple driveways, patios, block walls, sheds, dirty siding, etc. it might be worth thinking about.

I have also brought a friend with me so that if I'm busy answering questions or dealing with paperwork, he can answer questions from other "tourists." (He also makes sure the staging props don't mysteriously grow legs & walk out the door!) He has lived in this town his entire life, so he knows the area, amenities, employment, the best laundromat, etc. Not a big thing, but it does seem to put potential tenants at ease. 

Keep in mind that there is a further distance to travel (to anywhere), possibly gravel or dirt roads, probably higher utility costs (rural electric, propane, etc.), less/further access to amenities (if you want a pack of gum, you'll have to drive at least 5 miles here!), greater response time for fire/cop/EMT, etc. They may also freak out when they realize how much mowing &/or snow shoveling is involved. That all may not be in your favor as a landlord.

I myself live out in the sticks & have a 3/2 property out here as well. In my opinion, you will get folks who do want "country living," but fewer applicants. Also be aware that if tenants have been used to living in town, after a while they may realize there are a lot of drawbacks to being out in the middle of nowhere & want to bail out.

I also rent pasture acreage to some area farmers, but that's different. 

I grew up in Webster & my family is still there - both Webster & Kirkwood are great areas, home-wise. Kirkwood is bigger, so obviously, you'll get more overall inventory. Both school districts are highly rated - I wouldn't worry about that either way. And both are convenient to all the "hot spots" in the city, if that's important, yet you're not in the city proper.

Property taxes ain't cheap in either one.

Frankly, I don't think you could go wrong in either area - a "bad" property in Kirkwood/Webster is 100X better than you'll find in a lot of other places.