All Forum Posts by: Michael D.

Ken Latchers,

No that's not my business plan, and that's good advice.

I actually did ask my manager whether we can break a lease because somebody is being unclean and causing health issues. She basically said not really - we'd have to take them to court and that opens up a whole new can of worms that I'm not comfortable with.

My current plan is to simply not renew their leases, and communicate to the clean tenant as such - and then hope he's willing to wait it out.

I'm also thinking about sending the exterminator back in another time, at a cost of $450 for all 9 units. I can't make that a habit though, or I'd be better off tearing the whole thing down.

Since I notice that you're in PA, I'll also mention that this building is in a suburb to the north-east side of Pittsburgh.

I'm honestly not too afraid of vacancy in this building as I'm trying to improve it and raise rents - but I definitely don't want to lose the good ones and keep the bad!

I really need some advice here.

I've got a 9-unit building with a small roach problem.

Now one of my clean tenants says he wants to move because the roaches are so bad - mostly caused by the gross tenants that live above and below him.

I've already sprayed recently, and I'm sending the pest guy out again soon.

What else can I do?

Michael

Then invest somewhere else. Don't let your excitement to DO SOMETHING trick you into losing money.

- You don't have to manage it.
- You don't even have to see it - ever. That's what inspectors, managers and agents are for.

Take the money out in December and put it in a bank account. It's only going to cost you about $250/mo to let it sit there while you think about it. Then you can look opportunistically for great deals, or if you don't see anything that looks appealing you can always pay it back later.

You asked for advice, so here's mine: Based on the numbers you've given, and EXTRA especially in light of the water, I would only pay $60,000 for it nowhere near $120k.

Also - ask to see the water bill. I found out the hard way that "water" also includes garbage and sewer. For me that was a large unanticipated expense. Make sure you know who's responsible for it.

And management is an expense - even (in fact especially) if you're the one doing it. Never it out.

Bryan A., can you say which bait you used?

Try to figure out why the seller thinks $1.1M is a fair price.

Leighton Roberts,

Thanks for the advice. Seems like the Amazon crowd agrees with you.

I just sent a note off to my property manager to use this stuff liberally. I'll let you know how it works out.

@BryanA

Were you able to resolve your roach problem? What method did you use? How did it work out?

I've got a 9-unit with roach problems, and for now my management company is mostly just planning to spray regularly - which isn't a solution for me at all.

Any advice?

Yes, the washer and dryer are probably an implied part of the lease, since they were available when the lease was signed. One thing you could do is specifically exclude them on each renewal, and then close-up shop once everybody is excluded.

With the RUBS, you can install whatever equipment is required right away, but then only write it into the lease when it comes up for renewal.

You can't just start charging for water in the middle of a lease just because you want to. And giving them an option to leave isn't a solution either. The lease includes water and binds you as much as them.