All Forum Posts by: Kaycee Miller

I would consider scheduling an open house on a weekend. That gives you time to offer an opportunity for a lot of people a chance to view the property at one time and your current tenants can plan around it. 

Alternatively, if they are being unreasonable with allowing you to show the property, I would ask them to move out at the end of their lease in Sept. and not transition into a month-to-month agreement. You wont have to stress out about coordinating schedules during the advertising period. They need to reasonably accommodate your needs for finding a new tenants.  

I would be leery of locking in a reduced rental rate for 5 years. Will your expenses and property taxes remain stagnant for the next 5 years? What about the appliances, will anything need to be replaced in the next 5 years? Reasonable and routine rent increases are designed to accommodate these type of expenses an owner will encounter. Long term renters are great, but I would say 5 years at a reduced price is not a great idea. 

A property like this would draw additional income because it is large and has a completely separate living quarters. The problem with your particular case would be the marketability when trying to promote it as "great for your adult children" or "let your parents live in the in-law suite" - however you phrase your rental ads, this would violate Fair Housing rules that prohibit discrimination based on familial status. Even just suggesting a family with aging parents would benefit from living in your "duplex" could be seen as discriminatory. 

I would be curious if marketing this property as a SFH with a full in-law suite would violate Fair Housing rules? Essentially, a smart renter with aging parents would understand the value (like you did with your original purchase).

Did she break her lease and move before a fix-term end date, or did she move out with proper notice on a month-to-month lease? If she was on a month-to-month lease, a standard 30 day notice to vacate should have been sufficient and her landlord should not be charging her anything. (http://www.nolo.com/legal-encyclopedia/georgia-not...) 

However, if she was on a fix-term lease and tried to move out early, she could still be on the hook for rent payments and utility fees, per her lease agreement.  She needs to come to mutual agreement with her landlord about terminating a lease agreement early. 

You don't have to evict them just yet. Maybe just consider letting them out of the lease since they are not able to meet the lease terms of paying rent on time every month. Let them know you will have to move forward with an eviction if they are not able to pay rent on time each month with one check and if they are not able to meet these requirements moving forward they can give you 30 days notice to vacate and terminate the lease early.  It shows you are serious about evictions but willing to work with them through a tough time.

Like @Jeff B. says, you can halt the eviction process if you accept partial rent from one person. 

As your portfolio expands, PM software is certainly the way to go - you are smart to check out your options now. All the solutions you mention have very comparable features. While the monthly fee might be minimal to your cash flow at first glance, make sure to find out what their onboarding fees and term contracts are.  Like you said, if someone makes you sign up for a year contract but you find out you don't like it, you could be stuck.  Additionally, read reviews to see what people think about the customer support - free, US-based support from people with a background in property management will be super helpful as you learn a new tool and as you need help down the line. 

It sounds like you are going the extra mile to start your relationship on the right track - nice job! Something to consider, why not share with them how much you are paying to have the home professionally cleaned for them - send them a copy of the invoice that was paid by you. And remind them that this is condition you will expect the property to be returned at the end of tenancy per the lease agreement. They will have to hire their own professional cleaning service or you can use their security deposit to clean the property per your state laws. It's actually a smart investment that will keep the house clean prior to each tenancy.

ACH tenant rent payments are a super easy and convenient way to get paid each month. You can have your tenants set up recurring payments via ACH, the same way utility companies do online payments.  Setting up ACH transactions from tenants shouldn't cost the pm more than $15/month (just factor this into your rental amount), and then you have access to transaction records online for all payments - simplifies your accounting too.

If you allow pets, you can collect a "pet rent", $10-$20 per pet each month. And you can have a non-refundable pet cleaning fee in place to guarantee that you can get the carpets cleaned and de-flea the property after they vacate.When you don't allow pets, you run the risk of a tenant sneaking a pet on the property (it will happen eventually). An unapproved pet wont have the  additional security deposit in place to cover the damage that will occur. 

I love Tenant Welcome kits! They are such a simple gesture that shows your tenant that you care about them and your property. You will make them feel special and reinforce their decision to move into your rental.  Inexpensive cleaning items are a great idea, and also think about those small conveniences that a stressed out mover might have forgotten. A few bottles of water, a coupon to a local pizza place and 4-pack of toilet paper (just $1 from the dollar store) can really put on smile on your new tenant's face that first night in their new home.