All Forum Posts by: Larry T.

Hi everyone, I read a previous thread about wood paneling and someone in that thread suggested leaving the wood paneling instead of getting rid of it and having to repaint every time for a new tenant. With a multi unit building with each unit having four living room walls of fake wood paneling and many holes where pictures have been hung, etc., that are not very visible (because of the darkness of the wall), but still visible somewhat, is it wise to just leave it? And make sure the other walls and flooring are freshly painted and new looking? Paneling is so dated looking but if it will save lots of money long term then I would absolutely consider leaving it up, which I had never considered until I read that post (the one where the poster said that tenants like to live in dark environments:))

This is a lower-end building I should add but I still want it to look as nice as possible.

Any thoughts would be appreciated.

Thanks for the feedback everyone, I know just the neighbors to ask. They are always watching things as it is, so they will hopefully be happy to help.

Thanks so much, Mike. Would that then apply to the neighbors keeping a watch for 25-50 dollars a month? Does that automatically turn them into employees?

Hi everyone,

Is there any downside to reducing the rent for a tenant by 1/4 just to have them keep an eye out for anything that needs doing or watching over the property? It is sort of a long-distance property and we are just looking for someone to give us a call if anything weird is going on in between weekly trips to the property. The neighbors could do it, but someone in the actual building seems more practical but it also seems like there must be a negative somewhere. They would not be asked to collect rent or do much of anything, just call if they see a problem.

has anyone done this?

Hi REI,

What is a P&S contract?

Thanks!

Hi takleberry,

Does this model work if you are paying water? Would the 10 dollars only cover the extra water cost to you? I am thinking of this model in terms of a 4-plex, where currently water is paid by landlord.

Well, your advice definitely ruled out that option:) I had not thgought of the associated cost/hassle and so glad I can ask here before truly considering any action. Thanks again

Thank you all for the responses, so much to think about! In my case, I should have mentioned, it is a low end rental, that requires the most very basic of materials and that said, I would want durability. I am considering that commercial vinyl tile! If not then CHEAP carpet. I did not know that linoleum could get ruined so easily.

Thank you!!

do you guys think it will be significantly worse one year from now or will be turning around to positive again at that time?

In ref to previous post, if you give a discount for a longterm lease, how much of one do you give? Thank you