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All Forum Posts by: Mary Smith

Mary Smith has started 2 posts and replied 382 times.

Post: bees nest on rental property?

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Pedro Bartolomei I'm not sure whose responsibility it is but it could turn into a liability soon. I recommend calling a professional service to help remove them. There are a lot of local bee keepers who would be happy to do this for free!

Post: Fix and flip Lansing Michigan

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

Congratulations @Amber Hooks Thanks for sharing!

Post: Alternatives to Cozy for Rent Collection

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Carolyn Fuller I have been using Innago for several years now to manage my rentals. The system is very easy to setup with and is very intuitive. The software is free for me to use and my tenants pay a $2 ACH fee whenever they make a rent payment to me online. I would recommend looking into it!

Post: Window A/C added Electric Cost

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Tim Jett I've seen a lot of tenants abuse electric use if utilities are included. I would recommend doing exactly what @Nathan Gesner suggested!

Post: Kitchens - Creating Greater Value at Lower Costs

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Ryan Herting Thanks for sharing this helpful list!

Post: Best Practice For Collecting Rent

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Kevin Howard I recommend testing out some property management software companies to see which one would be the best fit for your rental business.

Ever since I've been using a property management software to manage my rentals, it's been so much easier. My tenants have auto-pay set up, so there's little for them to worry about and I see fewer late payments on my end. Plus no more wasting time at the bank, so that's been good too.

Post: Creating a lease for someone I live with

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Gbatoh Browne Happy Easter to you too! I would definitely recommend creating a lease agreement for this person that is paying rent and living in the same unit as you. 

Even if this person is a friend, it's important to establish clear boundaries when it comes to them renting from you. It's best to have all the specifics laid out clearly in the form of a lease agreement.

Post: Partial payment and late fees calculations

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Mak K. I would charge your tenant the late fees exactly as you laid it out - $75 on the first day and $25 every other day. States have limits on how much you can charge for a late fee every month, so I would double check this before charging them the above fees.

If you have other tenants with the same late fee structure, but only modify this tenant's late fees just to keep them, it is definitely unfair to the others.

Post: Do Landlords Pay Utilities?

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Tory Brown We too do not include utilities for our rentals. It just adds more responsibility and liability in doing so. Like you mentioned as well, costs may fluctuate from month to month, and there's some margin of error that you need to account for. Looking at all the cons, we feel like it's best to leave utilities to our tenants to manage.

Post: The best way to collect Rent

Mary SmithPosted
  • Rental Property Investor
  • Posts 384
  • Votes 196

@Juan Tonche Ever since I've been using a property management software to manage my rentals, it's been become way easier. My tenants have auto-pay set up, so there's little for them to worry about and I see fewer late payments on my end. I suggest testing out some softwares to see which one would be the best fit for your rental business.