All Forum Posts by: Malek Bohsali

What if the landlord doesn't pay any of the bills?

No idea on the notice period required, depends on your lease and your particular state laws.  I'd ping my real estate attorney and ask, esp. since its a unique situation

Where you're located, are you required to comply with today's standards for the entire home or only for the renovated parts of the property?

Not sure your basement is illegal, maybe un-permitted ;-)

Count your lucky stars, foot the bill and move on.  After receiving 3 quotes for comparable scope of work, of course 

Do you give them advance notice of the 'walk around' request? As a landlord I love the idea.  On the tenant side they might find it overly intrusive.  

If you like the tenants, they pay on time and weren't causing problems, I'd hike it by at least 1/2 the difference between current and market rate.  Not the $25/mo increase as they sometimes have trouble remembering how much to pay to whom, never mind a constantly changing number. 

Turning over one tenant in 4 isn't bad in that you'll gain turn experience and learn yourself what is and isn't worthwhile in terms of rent increases.

Overall, being that far percentage wise below market, is asking for trouble.   

Don't sell yet Brad, hang in there!  :- )  

I'm in Houston, face similar issues but lower turn costs.  These are smaller, lower end rentals, all tile or laminate floors, etc.  Incoming / replacement tenants are also not real picky - they'll preview before we re-paint and say, "No, we don't want to wait.  We'd like to move in this week - we'll take it like this."  So there's a balance for us every time we have turnover - how much do we want to put into the rental.

Of course our subs always want to remodel the entire kitchen and all the bathrooms!  At one point the bathrooms were nicer than my own family member's!  

Hang in there, and don't sell quite yet. 

Quote from @Richard F.:

3) 600 score is not much, please review the chart below which gives you the odds of a delinquency within 24 months.

 Hi Richard, could you please provide a link or source for the chart?  I receive an error when I click on the graphic.  Thnx, Malek 

Are you remodeling b/c you think the tenants are demanding/ deserve nicer places to live or b/c things are falling apart?  Once my parents told me our tenants bathroom was nicer than their own I quit upgrading unless I had a complaint or there was a serious issue.

 Love that idea