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All Forum Posts by: Mags S.

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

Post: How to rent place. What are we doing wrong?

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

It lacks pizazz in a competitive market. Stage a couple of rooms. 

Post: Tenants Rent Check Bounced!

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

Begin eviction. Sounds like you have a professional, no paying tenant who prolly knows the eviction rules better thaN you. 

Post: Co-signer or GUARANTOR Documents

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

I put the co-signer thru same checks as the tenant. Both go thru smartMove. Co-signer signs lease too. 

Post: Newbie landlord looking for lease contract

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

Ask your realtor for a copy of the state/commonwealth  version

Post: Tenant who is not paying water bill

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

whose name are the utilities in?

Post: Getting people to come to showings

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

I advertised on zillow and used a google voice phone number to manage calls/texts.  After a preliminary qualification talk on phone (although all criteria is listed in advertising), I set up a Saturday showing from like 9-12noon.  It was essentially set up like an open house (sign in, etc) except I didn't tell them it was an open house.  I just gave several candidates a specific 1 hr timeframe to arrive. I only showed one candidate at a time the interior of the single family house. The others waited outside for their turn. No one waiting left before seeing the interior; I suspect seeing other ppl there waiting to see the interior, it planted the seed that this property may not be around for long. As decision-maker, I asked every potential candidate, as I looked them dead in their eyes - how's your credit?  (Tenants carry all the utilities in their name). Those that had miserable credit, their eyes could not lie...no need to fill out an app. Several tried to fill out the app right then but I made them leave so I could show to next person.  It was an effective process. I was looking for the best candidate not the first qualified.

Post: Knob And Tube Wiring Older Home

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

why are you looking to replace the knob & tube wiring?  K&T is not uncommon in my area. Insurance did require there being some electrical updating but it did not require us to remove all K&T

Post: Do you EVER rent to folks with an eviction? If so why?

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

No, never.  

Post: How much for security deposit? (College rental)

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

I'd charge the most allowable by local laws assuming it is not outside the norm.  More than likely the parents will be paying. Also state in your lease how security deposits are handled should one/several but not all tenants leave or not renew. Don't get caught up giving back partial deposits.

Post: Do I need an inspection before renting a house?

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

Get all the city/state licenses required to rent a property in your area. Also have a process to take a close look at your prospective tenants (credit, background, employment, etc.