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All Forum Posts by: Kim Meredith Hampton

Kim Meredith Hampton has started 10 posts and replied 2472 times.

Post: How do I resolve disputes among tenants

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

You are not Dr phil!!! 

If there is nothing wrong with the property and they have not disturbed anyone, let them be for now. When the lease comes up, the you can address the issue with all parties. Depending on California law, maybe you don't have to renew the third tenant if the other two can qualify on their own. Please be careful of violating and fair housing issues

Post: How to deal with Tenant wear and tear?

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

Do you have a move in inspection ormphotos documenting the house, in addition Tina picture of the pet with pet deposit/Pet fee. I usually do half/half on the fee/dep on the pet, gives them an incentive to keep everything copacetic.

I agree on the back yard, wait until they vacate and resod and charge at that time. 

There is another thing you could do, implement pet rent

Post: Ceiling Fans Dilemma In Rentals

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

That is right, they won't open up the ceiling fan, it is more visual on those items, but I don't like having to replace items such as ceiling fans and washer/dryers, hot tubs etc... The inspections are important as a third party setting eyes on the property and giving the tenant a copy to keep everything transparent. 

Sounds like you may be handy yourself and don't need a professional to tell or point out these items.

Post: "Am I charging too much for rent?"

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

Perform as much due diligence on rent pricing prior to avoid too long of a vacancy. So many online pricing tools to help; Craigslist, Zillow etc...

Also important to have the property looking its best. Also keep in mind the time of year for your area 

Post: Ceiling Fans Dilemma In Rentals

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

I try and avoid having them installed at all, it's just another maintenance monster issue like washer and dryers!! I would rather put in a ceiling light fixture: easy and simple. The fighter end properties are a little different animal. 

You may want to add a clause to the lease that states that the fans are their for their use, but if they break, they will not be repaired .

On another note, I have all my properties inspected by a professional prior to occupancy.

Post: Number of units/on-site manager

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

I think once you get into that 70-100 units and depending on the condition of the property. You may be better served with a maintenance person.

There are many PM 's that can do things remotely in lieu of wasting an appt onsite for that person. Most applications, rent and maintenance requests can be done online. If you live close and have the time , you could do yourself with technology resources. Just depends on how much time you have available

Post: Documentation Required with Application

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

Let me know where I could send a copy of my RSC. This should help. May need to make a couple of revisions for your area, but overall very helpful 

Post: Do you require tenant's to buy renter's insurance?

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

I put it in renters criteria. They can purchase from us, or must provide with a copy of their policy and my company named as additional insured. It really is more for the benefit of the owner, but takes care of their items as well; fire flood etc... This would be a second line of defense for the owner. 

Post: Documentation Required with Application

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

Do you have a resident selection criteria? 

Post: Tenant paid rent but not Late Fee

Kim Meredith Hampton
Posted
  • Real Estate Broker
  • St Petersburg
  • Posts 2,624
  • Votes 2,112

I would really try and work with the guy, seems like he's at least trying; paying the rent and keeping the place in good condition. Would you rather have it vacant and turn costs?

When does the lease end? If he doesn't find a job by that time, give him a proper termination if you still feel he can't live up to the lease obligations