All Forum Posts by: Matt F.

thanks @Ryan Murdock. looking back at my mgmt agreement, i notice it did say that they'd keep the late fees charged.   Reading your reply i noticed your name looked familiar, interestingly enough i listened to your recent pod cast just today while mowing! some great words of wisdom thank you and the rest of BP!  

For those of you using a property manager, if there is a late fee assessed for late rent does your property manager keep that fee or remit that to you? My tenants were late and a 50 dollar fee assessed and I was surprised when the 50 fee was kept by the management company. I am the one who received my rent later not the Mgmt company is this just part of the property management model?? Thanks

i have a one month vacancy between previous tenants and new tenants - how do i determine (for tax purposes) my vacancy expense during this time frame ?  is it simply the foregone rent because the property is empty in between tenants? am i over simplifying it or making it more complicated than it needs to be?

THANKS 

Melissa M. I've used Members First Credit Union and know folks who've had success with PSECU. Members first was easy to work with for a HELOC I did recently.

wow- thank you all for the great tips and suggestions - this bring my first rental, first set of tenants - its all been a lot of learning.  Outside of the just general lack of cleanliness, like i said there was no real damage to the property other than the area rug and pad from the basement- so i am thankful for that.

i am under a tight turnaround on this one so i did the bulk of the cleaning myself the last 2 days. soon as i got the carpet and pad out of the basement, the smell was gone. it was unreal how much dander was caught between the carpet and the pad. Going forward, i think i am going to have a no pet policy. 

i am quickly getting over personal attachment to the property - its our investment now, no one will take care of it the way my wife and i did while we lived there, and i really shouldn't expect it any other way.

My first tenants moved out the other day so I went over to the property today to change locks and do a few other things. I was surprised to see how dirty the property was. There was no damage to anything but they had a dog and two cats. lots of hair and pet dander everywhere! Doesn't even look like anyone dusted or whipped things down before leaving they just took their stuff out and left. Just wondering what level of clean you expect when tenants move out. Stuff stuck to the refrig. Burnt on food in the oven.... Cat hair on everything ..I see why ppl don't like renting to ppl with animals. Lesson learned! Toilets were in rough shape. This property was also my first home so there is some personal attachment to it... I obviously left if spotless when we moved out so Iam trying to be impartial. Would I be right to keep some security deposit because nothing was cleaned when they left?

thanks @Thomas S.  i think i was under the impression that since they've been there a long time they must be good tenants ...but it could easily be that the landlord just does not want to deal with them.   is the esstopal letter just confirmation of the rent amount or other things?

thanks @John Knisely appreciate your thoughts

Hi BP  - in the process of considering a the purchasing a property with long term tenants already in place. (5-6 years now) what questions should i be asking prior to purchasing, related to the tenants?   

thanks @David Dachtera and @Cody L.