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All Forum Posts by: Mags S.

Mags S. has started 6 posts and replied 273 times.

Post: Agent said "I will not advertise your rental on MLS"

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

@Sam Shueh  what you are saying does not happen in philly mls. There is a difference between advertising for a tenant in mls and doing property management. You don't need a special license/insurance to put an ad in mls rental section. 

@Lana Lee - Does the agent work for a leasing or rental mgt company? Large ones don't normally advertise in mls. 

Post: 3 BDR/ 1 Bath Single Family Home with Stand up Shower(no tub)

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

Small children are often bathed in a bathtub.  can u convert the shower to a tub-shower combo?  Or try it out as-is; not everyone has small children and if in a very desirable neighborhood it may not matter. We've been renting out a SFD for years and never had any small children there. 

Post: Tenant2 bit by Tenant1 dog wants to come after landlord

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

Would tenant's rental insurance have helped in this case?

Post: Long-term consequences of allowing a smoking tenant

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

I smoked for almost 40 years. Sounds like good intentions from a prospective tenant. The reality is they will eventually smoke inside.  Initially they will smoke outside, then as time goes on and some  cool nights, they will smoke inside but have the balcony door open. As more time goes on, they will smoke inside but now they don't want to open the door to the balcony because it's chilly or a rainstorm. Or they have that smoke after a wonderful time in bed and don't feel like getting out of bed.  They will eventually smoke inside.  

Why would someone qualified want to pay 6 months in advance?  Who does that? ?  Someone who is hiding something and has been turned down for other rentals.

Draw up your requirements for leasing and stick with it.   You want a tenant that meets YOUR requirements; not the other way around.  Sounds like you are trying to accommodate his needs by bending your rules.  Don't.

Post: Buyer did not negotiate in good faith

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

This is a common scenario; Same comments as JD. Sign release, return deposit and get those 15 showings re-set up and move forward. 

Post: Collecting Rent Electronically

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

I'm small time and the tenant electronically transfers rent payment thru their bank to my account.  It goes to my account as cash. Always have a record of when rent paid.  It doesn't have the controls that a full service rental payment system may offer but it works for all parties and is simple and uncomplicated. I'll keep this process till it no longer works. 

Post: When to close the application process

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

It depends on your criteria. Does the applicant meet/exceed *all* your criteria or just the major criteria? After I rehabbed a place, I insisted on *best* qualified vs *first* qualified. My process was exclusionary. I had a laundry list of written requirements for a SFH. The bigger pockets application form was thorough and most decisions to exclude were made looking at completed app and my own investigations. Only the tenant that made it through all the 'hoops' went thru smart move.

I did not contact/follow up with those that provided a completed application. Those that contacted me asking for a status of their app, I would just tell them  I 'didn't think it was going to work out'.  Of those that wanted to pursue it further, the reason for exclusion was noted on each app that was reviewed (cya).  Lying on the app was common, another candidate didn't have enough move-in money, another who lived around the corner didn't make the minimum income requirements.  All legal reasons based upon criteria.

 I did group showings/open house. I kept advertising and speaking with/qualifying potential tenants until the new tenant signed a lease. 

Post: My experience with Memphis invest - $3900 repair tenant turnover

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

@Ruei-Jiun H. - for the next tenant, add to lease: mgt/owner visit/inspection throughout the lease terms - change batteries in smoke detector, replace air filters, etc.   It will give the opportunity to observe how the unit is being maintained by the tenant.

Post: Applicant with questionable girlfriend

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

Sometimes ppl don't meet your criteria. It's going to happen.  Move on. 

Post: Contractor taking me for a ride. Need help from exp Investor ASAP

Mags S.Posted
  • Rental Property Investor
  • Phila, Pa
  • Posts 276
  • Votes 110

Did you ask, receive, and contact references?