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All Forum Posts by: Linda S.

Linda S. has started 8 posts and replied 1650 times.

Post: Considering Section 8 investments, What are pros and cons?

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347
Quote from @Shane Moore:
Quote from @Linda S.:

@Shane Moore,

First, let me say whether you get S8 or a working tenant-- it 100% depends on the tenant.     I have 1 I absolutely love, we are going on 6 years and I love having her as a tenant.  I have terminated separate 3 -S8 leases because of disrespect and they were trashing my house.  It's really a different mindset and attitude, hard to explain but it's just different.  

Second-- If you are going to focus on S8, realize you aren't dealing with tenants who have a lot of extra disposable income.  My best advice is the charge the absolute highest amount per your local guidelines, because you'll need to include regular HVAC maintenance, filter changes (they won't do it, promise!), pest control, landscaping, breaking appliances, people are hard on these houses!  Knowing what I know now, I'd also include a professional cleaner to come once a year.    Seriously, you won't even know the real damage until they move out.  

 The more you can include, the better that way you know it's actually being taken care of.  I think they'll be happier too if stuff is included in rent, as it's not an extra expense on them!

I had never really thought of it that way. The yearly cleaning is genius. It lets them know that no matter what there will be yearly cleanings… it kind of sets the tone. I could see how lawn maintenance could become an issue rather quickly, especially with a big yard. So you put all of that in their monthly cost/rent? Are you saying just charge the maximum allowable amount because all of those things are going to have to be covered. 

Peace and Blessings,
Shane 

 Unfortunately, I came from the other end where majority of my tenants are not S8, so my rates are a little below market.   I normally don't include anything, and it was HORRIBLE at turnover--  I had to re-do EVERYTHING!! 

  If I proactively did S8-- I would absolutely charge the most allowable, and include everything possible so that way you know your house is getting taken care of.   It will help the entire relationship, because tenants won't care (they pay their portion regardless if it's 800, or 2800 rent),  and you will be better off in the long run.   This isn't about being nice to tenants, it's honestly being proactive for YOU-- your HVAC, your lawn, your house.   Guaranteed rent is peanuts compared to if your house gets trashed.   IMO this is the only one that works for both parties.

Post: Considering Section 8 investments, What are pros and cons?

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347

@Shane Moore,

First, let me say whether you get S8 or a working tenant-- it 100% depends on the tenant.     I have 1 I absolutely love, we are going on 6 years and I love having her as a tenant.  I have terminated separate 3 -S8 leases because of disrespect and they were trashing my house.  It's really a different mindset and attitude, hard to explain but it's just different.  

Second-- If you are going to focus on S8, realize you aren't dealing with tenants who have a lot of extra disposable income.  My best advice is the charge the absolute highest amount per your local guidelines, because you'll need to include regular HVAC maintenance, filter changes (they won't do it, promise!), pest control, landscaping, breaking appliances, people are hard on these houses!  Knowing what I know now, I'd also include a professional cleaner to come once a year.    Seriously, you won't even know the real damage until they move out.  

 The more you can include, the better that way you know it's actually being taken care of.  I think they'll be happier too if stuff is included in rent, as it's not an extra expense on them!

Post: Problem property -- help me with strategy

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347

@Josh Feit,

It sounds like it's time to put money into upgrading the house, whether you decide to do any of the options-- it will only help you!  I'd first put granite in, maybe some SS appliances,  and check your local market-- what's making units get rented?  Don't forget about curb appeal, can you power wash or throw on some fresh exterior paint?  

Just an idea, if your ideal tenant is S8, maybe offer a lower deposit, or a move-in bonus as a gift card to Walmart, be creative and figure out what your ideal tenants want-- and give them a reason to pick your place!


@Malachi P.

No, everything about this situation screams future problems. 

1)  The daughter can't even look for herself,  she's having her mom be the adult and try and find her housing.   I'd bet a lot of money, she'll never find a job, as long as mom's paying the bills, why would she?  Since she doesn't have any skin in the game, or reason to take care of the place, it is much more likely to get trashed.

2) Unless you are renting it furnished, who cares-- their problems are theirs, yours are yours.

3)   Desperation is never a good situation, they'll just continue to pass on their problems to you.. do you want to hear that maybe they get back together and because of that, maybe they only stay a few months and now you have to deal with turnover again.   Oh, or maybe the SO finds out where they live, and come bust in your door or busts some windows..    People who bring drama, are the drama.  The mom can be wonderful, doesn't mean her kids are.

Trust you gut-- hard pass.

@Bala Nagarajan,

Get their case manager involved, and CC them on all your correspondence, they probably hate this-- but it's essentially like a built-in-babysitter.   The S8 tenant does NOT want to lose their voucher, or ever look bad-- so they will be much more likely to comply if they are involved vs. only  you as a landlord.    

I have had s8 tenants yell at me, slam the door in my face, but when that case worker gets involved, a magical halo comes out and they become the nicest people and are quick to fix problems.  I had S8 a tenant leave couches/tables, trash, pots/pans and a ton of trash behind, but once I sent that email with the case manager, it got removed that day, no problems.  

That's your only power card is involving the case manager.

Post: Tenants asking for rent reduction due to Maintenance issues

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347

@Chris R.

"But, you did it last time?"    That's what they are going to say with every upcoming maintenance issue, and why was last time different than this time?   If they are struggling, and maybe have a car repair bill, soon they will be more aggressive about complaining in order to get stuff off rent... don't do it!    I'm sorry, stuff happens, my mortgage doesn't get any less because something in my house breaks. 

Post: For newbies and the BIG MEANIE INVESTORS in the BiggerPockets forums

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347

@Jim K.,

You are an example and an inspiration that shows hard work, creativity and grit can make you successfull!   So many people just want to buy the rainbows and butterfly story, but the reality is-- the real value on BP is from the SALTY OLD LANDLORDS (no offense!) like us!   The more pestimistic someone is, the more likely they have experience in being burned, and they have learned what works and what doesn't!  I used to be very pro low income, but the reality is, it's hard, and most people can't take the amount of work/dedication it takes.

I tell everyone, my saying for real estate "When it Rains, it Hurricanes!" ... it's tough, and the amount of stuff thrown at you is insane, that's why lower income rentals I say is a very sink/swim, and majority of the people sink because it's LEGIT HARD WORK.

Thanks for posting this on behalf of the another similar, grumpy landlord who has been there, and done too much! 

Post: Smoke Detectors in Rental Properties

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347

@Denise Evans,

It's shocking to me that landlords don't think it's their responsibility. In VA, you're required to check them every year. Every year we do it at our annual inspections, and without a doubt, we find some where tenants have removed the batteries, or removed the entire thing-- it's just common place-- tenants don't think safety.

Another thing I'd say, and I'm surprised it's not legally required-- is adding fire extinguishers!   We have them, and also additional fire protections such as a fire ball and a fire blanket.  Yes, you have to check them each year too,  but it's worth it!   We have saved 2 houses thus far, just being prepared.   Most tenants don't want their houses burned down, they'd rather stop a fire, so make sure your tenants have adequate safety tools to keep it small vs. entire house!   The more you can be proactive, the less reactive you have to be!

Post: A Great Tenant Can’t Make Rent

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347
Quote from @Account Closed:
Quote from @Linda S.:

@Account Closed,

This is a slippery slope of complaining, and she is hoping you will lower rent.     Let me just say, of all the tenants I have thought were "great tenants" ... only 10% did I think that after they moved out and I saw the turnover.     90%, I just thought.. oh wow,  all you did was actually pay on time. 

I'd absolutely let her out of the lease, and suggest she find some place more affordable.   It's not your job to solve her problems.


 See my above comments. Also, she’s never asked me to lower rent, she’s never been late, and I won’t lower rent. I was hoping by posting this that people would have some out of the box solutions besides stating the obvious.


 Tenants don't ask specifically, they hint they will leave if you don't do something.    The only out of the box solution, is to use her deposit this month, and increase her rent $50-100.

Post: A Great Tenant Can’t Make Rent

Linda S.Posted
  • Investor
  • Richmond, VA
  • Posts 1,671
  • Votes 2,347

@Account Closed,

This is a slippery slope of complaining, and she is hoping you will lower rent.     Let me just say, of all the tenants I have thought were "great tenants" ... only 10% did I think that after they moved out and I saw the turnover.     90%, I just thought.. oh wow,  all you did was actually pay on time. 

I'd absolutely let her out of the lease, and suggest she find some place more affordable.   It's not your job to solve her problems.