All Forum Posts by: Laurieann Frazier-Duarte

Quote from @Laurieann Frazier-Duarte:

Quote from @Theresa Harris:

Quote from @Laurieann Frazier-Duarte:

Quote from @Theresa Harris:

Quote from @Laurieann Frazier-Duarte:

Quote from @Theresa Harris:

My tenants are responsible for keeping up the yard and snow removal. They also pay for all their utilities.  If they want a security alarm, they pay for it (not really an issue here).  Smoke alarm and CO alarm, I provide.  

 Thank you Theresa.  I know that here in our area, snow removal services are difficult to find for residential areas.  So I would likely have to place this responsibility with the renter.  Is your rent cost lower than the average in your area due to leaving the utility cost with the renter?

 It is on par with other rentals as that is the norm in my area.  Problem with including utilities in the rent is some tenants can abuse it (eg leave water running, windows open, etc).

 May I ask in what area you provide rentals?

 BC and AB.

 ??

 Canada.  British Columbia and Alberta.

Quote from @Laurieann Frazier-Duarte:

Quote from @Shannon F.:

In general we cover all utilities including wifi. We don't provide cable service as most guests are ok with streaming TV. In one property we cover pest service because it has had issues. We do cover lawn care because even though we don't buy homes in HOA we want to maintain the look of the home and keep our neighbors happy. We provide smoke detectors, carbon monoxide detectors, fire extinguisher and change our air filters as needed. Hope that helps!

 Shannon,

So, does this coverage contribute to and dictate the calculation of your rental price?  Do you utilize a property manager?  Do you include scheduled inspections in your lease?

Thanks.

Yes Rent needs to cover the Mortgage + utilities + cleaning fee etc. I don't use a property manager. I have done a formal inspection with the lease but I give the tenant a checklist to fill out with the least when they move in so they can document anything that is broken or needs repair. I've also taken pictures of each room so I have proof of the state of the furnishings etc. But I'm still fairly new to MTR/STR so I'm learning as I go.

Quote from @Laurieann Frazier-Duarte:

Quote from @Jonathan Greene:

The way that I think about these things is as follows: what things will hurt the value of the property and/or annoy the neighbors and/or get me fined if I assign to the tenants and they don't do it.

1. Landscaping and snow removal on a multi should always be done by the landlord. On a single-family, I would assign lawn care to the tenant and do snow removal since it's a 24 hour window in most areas until you get fined. And you get fined, not them.

2. Pest control should ALWAYS be the landlord because you want to prevent pests. A tenant should not have to pay for that unless they continually leave food out and cause more pests than your account covers.

3. Safety alarms are always on the tenants to take over the account or make one.

4. Hard-wired smoke and CO are the responsibility of the landlord, and in reality, the batteries are too because you are protecting your property from fire. If you leave batteries there, that helps for that purpose since nothing else uses those batteries anymore.

5. Air filters should be on the landlord and it's a great way to do your quarterly inspection at that time.

 Thank you Jonathan.  This makes sense and sounds like a good approach.  

Do you think that one should manage when starting out, or should I consider a property manager?  I'll need to contact a few PMs in the area to get an idea of the cost for their services.

If it's just one unit, I would always say self-manage to learn, but you still need to have connections to do self-management correctly. Some property management can be a big help, but no property management company is going to prioritize the client with one unit compared to all the others who have a lot.

Quote from @Laurieann Frazier-Duarte:

Quote from @Theresa Harris:

Quote from @Laurieann Frazier-Duarte:

Quote from @Theresa Harris:

My tenants are responsible for keeping up the yard and snow removal. They also pay for all their utilities.  If they want a security alarm, they pay for it (not really an issue here).  Smoke alarm and CO alarm, I provide.  

 Thank you Theresa.  I know that here in our area, snow removal services are difficult to find for residential areas.  So I would likely have to place this responsibility with the renter.  Is your rent cost lower than the average in your area due to leaving the utility cost with the renter?

 It is on par with other rentals as that is the norm in my area.  Problem with including utilities in the rent is some tenants can abuse it (eg leave water running, windows open, etc).

 May I ask in what area you provide rentals?

 BC and AB.

The way that I think about these things is as follows: what things will hurt the value of the property and/or annoy the neighbors and/or get me fined if I assign to the tenants and they don't do it.

1. Landscaping and snow removal on a multi should always be done by the landlord. On a single-family, I would assign lawn care to the tenant and do snow removal since it's a 24 hour window in most areas until you get fined. And you get fined, not them.

2. Pest control should ALWAYS be the landlord because you want to prevent pests. A tenant should not have to pay for that unless they continually leave food out and cause more pests than your account covers.

3. Safety alarms are always on the tenants to take over the account or make one.

4. Hard-wired smoke and CO are the responsibility of the landlord, and in reality, the batteries are too because you are protecting your property from fire. If you leave batteries there, that helps for that purpose since nothing else uses those batteries anymore.

5. Air filters should be on the landlord and it's a great way to do your quarterly inspection at that time.

Quote from @Laurieann Frazier-Duarte:

Quote from @Theresa Harris:

My tenants are responsible for keeping up the yard and snow removal. They also pay for all their utilities.  If they want a security alarm, they pay for it (not really an issue here).  Smoke alarm and CO alarm, I provide.  

 Thank you Theresa.  I know that here in our area, snow removal services are difficult to find for residential areas.  So I would likely have to place this responsibility with the renter.  Is your rent cost lower than the average in your area due to leaving the utility cost with the renter?

 It is on par with other rentals as that is the norm in my area.  Problem with including utilities in the rent is some tenants can abuse it (eg leave water running, windows open, etc).

I topped out with 21 SFR's. I self managed them all. However, since Seattle turned against small landlords I have sold many(taking the tax hits), getting out. I'm probably an anomaly here, but here's my general system: Tenants pay all utilities. If they're not current they get a notice. They mow the lawns, (most suck at it) and they must do it or get written up. I blast the places twice a year with weed killer. I do whatever sprucing is needed to look sharp and keep the neighbors happy. They are not allowed to do any repairs or modifications, none, without written consent. My repair costs are near zero because I do all work myself, from roofing to furnaces to sewers. Before I rent a place it functions perfectly and they are remodeled with the idea that I'm renting to knuckleheads, so all things are accessible, repairable, common, and not high value. For example, no fridges with ice makers. Any damages a tenant must pay for, unless its an act of nature or tree roots. In left leaning Seattle I've lost more lawsuits than won, but that doesn't make me stop making tenants answer for their damages. At move in, they are taken by the hand and shown everything is working, if they clog a drain it's their clog unless proven otherwise. I will hire some landscaping on occasion, high tree work, it just depends, things run pretty smoothly for the most part. At move outs I always hire cleaners and bill accordingly from their deposit, then go over it again my self before showing. I used to sit at a desk, I much prefer the constant moving about and being outside, the work suits me. My average tenant is probably 5 or 6 years. I loved being a landlord and felt good about it, but since its gotten to be so regulated and anti- landlord here, its best I get out. Probably too much info here, sorry. I don't know your situation, but I know that if I can self manage, self repair, and keep costs low, anyone can. It has paid off. All it took was some tenacity.

In general we cover all utilities including wifi. We don't provide cable service as most guests are ok with streaming TV. In one property we cover pest service because it has had issues. We do cover lawn care because even though we don't buy homes in HOA we want to maintain the look of the home and keep our neighbors happy. We provide smoke detectors, carbon monoxide detectors, fire extinguisher and change our air filters as needed. Hope that helps!