All Forum Posts by: Mike S.

A chair height toilet is not something you'd have to remove once installed for a non-disabled tenant.  It's completely functional for everyone.   It's not like a chair lift or ramp is being installed with structural changes that need to be remediated after the tenancy. 

I'm pretty sure that in many states, if not all, a clause in a lease that said they had to not be present during showings would not be valid.  

Here's what I do with my properties that I don't expect significant turnover prep.  

Even though my lease says they must allow showings, I will make a request to reserve 2-4pm on Sundays as a showing period.  I won't show if the tenant has an issue even if I can enforce it due to the lease. I'll advertise and screen( never allowing an unscreened tenant to show) and schedule in 15-30min intervals.  I'll let them know the exact schedule and when I'll be done.  Most have chosen to not be present, but I've had a few hanging out watching TV or just around the house.  It's not been a problem so far.  

Zillow is the best option in my area and I get fewer unqualified inquiries than any other platform.  In this market, I usually place a renter in about a week.

My normal procedure is to meet at 5pm the day before to collect any remaining balances due, conduct walkthrough, and finalize the lease then give them the keys. 

Craigslist is poison.  Scammers will copy your listing and relist at ridiculous prices, renter pool is not worth the hassle even if you find a good one on there. Zillow get's the most exposure.  Facebook is slightly better than Craigslist, but similar rental pool.  Watermark your photos with the phone number and rental price whichever service you use.

Avadian CU banking, yes. I’m not a member of Avadian CU and I’ve done 20 loans with them. I only deal with the mortgage team, not the banking side. 

It's a good practice to set criteria and know that you will be firm about it before encountering these situations.  You need to not be emotional about it and not feel desperate to accept someone.  Personally, I've rejected all applicants who've offered 6 months or a full year in advance.  If you dig deeper, there are likely other red flags that will tell you to avoid them as well.  Have you done an eviction background check?  Have you talked to the last 2-3 landlords?  How are you going to evict for cause when you've already accepted prepayment? I prefer a stable, monthly payment from a fully qualified tenant who's not looking to buy me off.  It's also a sign that other landlords have seen something that you may not have and denied this tenant and hope you'll be bought off.

When I approve a tenant, I continue showing the unit and accepting applications until I receive a non-refundable holding fee which rolls over into the SD on move in.  I collect the remainder of the amount due and finalize the lease on move in.

Avadian Credit Union is 3.375 to 3.625 depending on if you want to pay origination fee. Ask for Cindy Sharp. 
30 yr fixed 20% down. 

$1500-$1600 is the sweet spot for SFH in the area for fast turn overs. If you don't mind 3-6 months vacancies, then $2k might work.