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All Forum Posts by: Lee L.

Lee L. has started 17 posts and replied 277 times.

Post: Prop 10 (Rent Control) in California

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

If it did pass, and they were to start putting rent control on SFR, that would be a huge negative for the desirability of these SFRs as rentals. I wonder what that would do to prices.

Post: Biggest Mistake You've Made on a Multi-Family....

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

Not finding out sooner about the Lowes $20 off $100 and 10% off coupons you can buy off ebay!

Post: I'm looking for strategies to handle a tenant situation.

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141
Originally posted by @Nicole A.:

@Lee L. The cost of a new fridge/freezer plus $180 to "keep good relations" is  honestly a waste of money and not good business practice. You can't just throw money at problems. You also can't think that just because you did something nice for someone that they actually appreciate it. A day will come when you have to finally say "no" to them, and you will be the worst landlord in the world in their eyes despite all the previous times you said "yes".

Yes, definitely get items fixed as soon as possible, but also giving in to any whim demand they make (such as paying for their food when they probably don't even have proof of the cost) is setting yourself up for drama, stress, and profit loss. It doesn't matter if you have just a couple of rentals or hundreds. 

Plus, at some point with multiple tenants, you might end up saying "no" to one tenant's situation and "yes" to anothers....and they talk, and they find out you treat them all differently. Drama and trouble.

You can be firm, friendly, and helpful but also not just throw away money simply because a tenant showed anger or other negative emotions.

 Whole-heartedly agree with you about the potential for drama. I haven't given much thought about that aspect, but I definitely will. I'd probably tell the tenants, "you get what you pay for," but probably in nicer terms. 

Re: "Throwing money at problems"- At this specific case yes, but it is a problem that can be cured relatively easily and cheaply. I don't agree that it's "throwing away money" though. Get a new fridge and no problems or service calls. And tenant wouldn't be all pissed. Definitely there is a "gray" area about the responsibility. The way in which it tilts against your favor will be magnified in the eyes of the tenant if you don't comply, and he may mess up your stuff otherwise.  or spread metc. 

Re: "Worst landlord in the eyes of the tenant" -  I say no to tenants all the time. After saying "no" I haven't found that to be the case. When I explain "no", I explain to them why their request isn't reasonable, constraints, etc. 

Post: I'm looking for strategies to handle a tenant situation.

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141
Originally posted by @Thomas S.:

"oh too bad, I'm not responsible, it says it in the lease, so I can't help you."

Do you expect your tenants to honour the lease. Is there a reason to put language in your lease you have no intention of enforcing. If you are intending to give tenants a break or free ride the first time there is a problem then put that in the lease.

If you are not going to honour and abide by your own lease why would you expect your tenants to honor the same lease.

For those landlord that have a problem enforcing their lease you need to sit down a rewrite it before a tenant discovers your weakness.

@Thomas S. 

Yes, I expect them to honor the lease. I agree that it would be a good idea to have that kind of language in the lease. I also agree that there is a need to enforce the language if it is in the lease. But my decision would also depend a lot on these three factors: the amount of rent I was receiving, the cost to remedy, and the extent to which the tenant is a pain.

 My point is that if I can keep tenants happy - relatively easily and cheaply - I'd probably just do it ... on a case by case basis of course ... and my decision would depend a lot on those three aforementioned points. If by my own actions, I end up breaking my own lease to make them happy, I would definitely let them know that it does not set a precedent in any way, that I appreciate their tenancy, and hope they feel special, so they will keep paying me rent. 

Here's how I would have probably dealt with it: 1) Check the lease. 2) Order a new fridge and cut a check for $180 to tenant. Do not attempt to repair fridge. Get a nice $500-$600 with SS finish, or if there's not enough money go on Craigslist or Habitat Humanity Restore. But do not pursue warranty or home warranty, those aren't even worth it for something trivial like this. 3) If there is language in the lease, explain to tenant how it's a 1 time thing. If there isn't the language , let tenant know there will be a letter in the mail which they must comply and sign.  (But here in my I can't do that because there's rent control ... but that's another story).  

Anyway, for my smaller operation here in L.A. of less than 10 units (plexes and SFRs) that I self-manage, I find there is a benefit in maintaining good relationships with tenants. That's why I sometimes try to exceed their expectations on the small things, so hopefully they'll be more willing to work with me on the big things should they ever come up. 

Post: I'm looking for strategies to handle a tenant situation.

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

I would probably get them a new fridge and pay him the $180 bucks for food spoilage. It's not major money, and it's probably worth a lot more to him than  it is to you, especially now he also needs to go to the grocery store and deal with the mess, and he won't be able to cook things. Even if the food he lost was worth less than $180, I'd feel bad that my appliance failed on him ... and not just be all... "oh too bad, I'm not responsible, it says it in the lease, so I can't help you." 

Post: Do you think this person is fraudulent?

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

No tenants who offer to pay 6 months up front EVER. That's like the first thing you learn in "Tenant Screening 101"

Post: To lower rent or not?

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

I'd see if they'd meet in the middle at $2700. In addition to lost income from vacancy, there will also be a cost to making the house rent ready again, especially if there's furniture involved.  You're also heading into the traditionally slower months when people are less likely to move. 

Post: Fourplex Exterior Makeover Ideas

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

Property looks great! I probably wouldn't do much at all. Perhaps repaint the stripes on the parking spaces. Clean up any grease spots on the pavement. Get some nice adirondack chairs, but nicer than the $18 ones at Home Depot. Designate an area for trash cans so they're not on the front porch. And if they're smelly replace them. 

Post: Need help with Tennant

Lee L.Posted
  • Investor
  • Los Angeles, CA
  • Posts 285
  • Votes 141

I would notifying him that it would be an extra 10% per occupant.