All Forum Posts by: Kathleen Leary

If you missed two car payments, you wouldn't have a car anymore, would you? 

Pay or Quit - NOW!

As an example of occupancy insanity (well, I think so!) in this town, only four unrelated people can occupy a SFR. So an unmarried couple with 3 adopted kids can't live in a 5-bedroom house!

On the other hand, there's no limit to the number of related persons who can occupy a residence. So you can have ten people in a one-bedroom property (yes, I can give you a tour & point some out!).

Point being: check your local regulations & don't rely solely on HUD guidelines; find out for sure.

I take photos of every surface in every room, prior to move-in, plus close-ups of things that might not be obvious in a larger picture (insides of cabinets, appliances, closets, tile, etc.). I also do the exterior, to document screens, siding, porch railings, steps, yard, etc.

I also document things that are wrong: that either means they get fixed or that those things are existing & not to be deducted from the security deposit.

The photos are available to the tenant at move-in on a CD or flash drive (we also do the required walk-through); I also encourage them to take their own.

Any damage is similarly documented at move-out, plus there's a walk-through with the tenant.

Yes, it takes extra time. However, the tenant knows there's complete documentation of the existing condition (which can certainly be to their benefit) & that it's expected the property be returned in the same. Of course I allow for normal wear & tear, but it's important to establish expectations (in writing, too!) before money changes hands.

I have had one tenant leave the place trashed (mercifully, there was not much structural damage!) who then threatened to sue me for the entire security deposit; I had detailed "before & after" documentation & they had nothing. After consulting legal counsel, they realized they did not have a leg to stand on.

CYA!

A couple of things to add: I've spent a lot of time & effort putting in decorative beds that are about as low-maintenance as possible. In truth, I spend less than one hour a month on non-mowing upkeep, now that everything's grown in. I've also chosen plants for their overall hardiness, drought resistance & ability to look pretty good, even when not blooming. I also make sure that everything (A/C unit, beds, trees, walkways, etc.) has a "mow strip" so there's no trimming.

So that cuts my time by about 90%.

(I have a row of bushes that need trimming about once a month; I knew that when I put them in. I do that by hand right before I mow & then chop up all the trimmings.) 

As for rent, my properties rent at the top end of the scale for what they are: small, old (100+) SFRs. My rents tend to be about $25 above others, give or take. In this area, to hire someone to cut your grass is about $20; I figure I come out about even, since I collect that extra money in the winter, too. No, I do NOT shovel snow!

I am the biggest proponent of curb appeal EVER - I truly believe it sets the tone for the entire property. If you've spent big-bucks on landscaping, letting it deteriorate is throwing that money away. One of my units has an adjoining yard with the neighbor's - we arranged to have him mow both. There are always kids looking for odd jobs, too.

You have to decide if YOUR time is worth spending pulling weeds. It might be a wise long-term investment to farm it out - deductible, too!

This is only MY experience & MY opinion . . . 

I like my rental properties to look tip-top outside. I would never expect a tenant to keep up flowerbeds, hedge-trimming, mulching, weeding, mowing & trimming, etc. Because other than mowing the grass . . . well, they won't.

Those chores are included as part of my rental agreement & for the most part, I do them myself. Most renters here have to mow their own grass; mine don't. 

It's a real bonus for the renter (no need to have a lawnmower!), my yards look the way I want & I keep an eye on the property, as well. 

That said, I live in a small town, my properties aren't more than 20 minutes away & I have great tenants. (I also have a very unnatural liking for doing yardwork!)

But I would not expect any tenant to pay for or keep up what is, in my opinion, general property maintenance. 

At least in my experience, child support payments are not to be counted on . . . seems like there's always some reason they don't materialize when they're supposed to. If that's part of the 3X, I'd be wary.

And I certainly agree: you should have a written checklist you follow for each application to determine eligibility, in the order received. 

I have almost the same situation, only it's a friend who lives next to my SFR unit. He & I both use the storage shed on my property & he mows the grass (usually - I do it occasionally). He pays me $1/year rent on the shed.

That's probably a little casual for your situation; I'd definitely set up a contract stipulating what, where, when, how much, who, etc. including who puts a lock on the door & who has keys. Since you will have other management looking after the property, they need to be involved regarding what their tasks are/are not depending what the neighbor agrees to do. 

Contracts protect everybody; check with a lawyer to make sure you are in accord with local statutes.

As Ed E. stated, non-postal use of the mailbox is technically illegal. Keep your nose clean in all dealings so it won't come back & bite you in the butt. Put your notice in a sealable plastic bag (tape it shut if needed for extra security) - I make sure to take a photo of it in place on the door, then back off & show the entire facade with the notice taped. I also held my phone up next to it with the date & time showing & took a photo of everything with a camera. Don't let a little rain get in the way of what you have to do!

IN MY AREA (which may not be the case elsewhere!) ungrounded systems are not uncommon due to the age of the properties (1900-1910). They are acceptable IF you use the proper work boxes, etc. (I currently own two, myself.) Be SURE to check & comply with your local statutes & code requirements!

You can have a dedicated GFCI circuit run for your bath, kitchen, etc. which will take care of any receptacles on that circuit. You can also add a single GFCI receptacle. 

Be sure to check whether your area has required AFCI-compliant wiring. If so, you may be up against a hefty re-wiring bill.

If you can justify the expense, consider a whole-house re-wire. It's safer, you won't run up against code issues in future & you can upgrade the system if needed to be more user-friendly. (Old properties often only have one receptacle per room!)

And be sure to pull your appropriate permits & get a licensed contractor for the work - I know a house in which the city made them tear out every bit of wiring due to lack of a permit. It happens.

I had a gas furnace & central A/C put in with all new ductwork for $4200. Included capping the existing (old) chimney vent from the roof.

That said, it's not a big house, but I'd sure get multiple bids on your project.