All Forum Posts by: Lesley Martin

Hi there,

I purchased a SFH in Dec 2021 for $99k. I spent about $12k in repairs and upgrades to make it rentable. I rented it for 1 year with minimal issues.

In 2023, tenants moved out and I put in $5k in turnover costs. Then it didn’t pass the city inspection because of landscaping debris and tree branches that fell in my yard, so I put in $5k more.

After 6 months of vacancy, a new tenant moved in and immediately began complaining about everything. I had to replace the fridge, HVAC, and various other repairs that were another $8k or so. She’s been paying rent but we are not renewing with her. She’ll be out by Dec 1.

Given that I’ve been paying about $15k on this property every year, it’s been a money pit. I’m trying to decide if I should keep going, or take this as a learning experience and sell it.

I have a realtor looking at comps to get a sale value. Back of the napkin, I think $130k would be break even. Redfin says its value could be 150-160k, but I doubt that’s accurate, unless the market heats up with lower interest rates.

What factors should I consider?

How can I tell if my experience with repairs and tenants was bad luck? Or if it will continue?

@Kevin Sobilo thanks, I appreciate this detail. When I purchased the house, there were signs of termites but no damage (at least according to the inspector). I got the place treated then and have had annual treatments every year. I’ll ask the pest inspector to come out again and ensure it’s okay.

@Kevin Sobilo, thanks for getting back to me with your thoughtful response. Attached are the pics I took while at the house. It looks like there are tiny gaps, but I didn't see floor boards or lips jutting up. Also, I didn't see reason for splintering while I was in person, but my new PM informed me of that specific complaint this morning. 

Hi folks,

My new tenant was placed in my St Louis property last December. Since then, she’s had a multitude of complaints about various issues big and small. I’ve spent $10k to fix issues like new HVAC and fridge.

She’s also been complaining about uneven floors in the house, which she says are a tripping and splinter hazard. I visited the house a few weeks ago, and the floors are slightly uneven, but it’s more like an old house issue than anything else. The foundation is clean. Additionally, her house is cluttered and the floors hadn’t been vacuumed or swept in months, so I  am suspicious about her claims of tripping safety and splinters.

Questions:

- Are her concerns valid complaints?

- Is there anything that can be done about the issues (within reason)?

- How can I protect myself against lawsuit? What should I be concerned with protecting myself against?

- if she’s claiming safety issues and I decline redoing all the floors, how can I do so in a way that’s acknowledging the concern and saying I won’t resolve it?

thanks

Recently, a neighbor’s tree fell onto my yard. It was blocking the city’s approval for me to rent out my property, so I coughed up the $700 to remove it.

The PM & Landscaping company say that there are other trees at risk for falling, which could hit either my fence or house.

What can I do to get ahead of it and push the neighbors to clean up their properties?

I’m wondering if I can file a complaint with the city, or whether I need to hire a lawyer.

Hi — I have a SFH in STL and would like to find a new property manager. Looking for recommendations. Thank you!

 Yes, we are concerned about the risk because we want to have kids. We’re also considering laying down brick or paving the entire backyard to not expose anyone to it. However, we will be at a disadvantage when we sell the place in the future, because will have to disclose it in perpetuity or if it’s completely removed.

We like the place, but I think will use this as leverage to negotiate a lower price. It’s located in the inner Richmond.

I misread the summary page of the report.

Looking deeper, It’s actually 3700 mg/kg