All Forum Posts by: Megan Moody

I agree with the posters above. Stick with whatever credit standard you use and make a decision based on that. I think asking for more $ from someone who has a poor repayment history is asking for trouble .

hi! Agree with everything stated above... I think it depends on your situation and personal goals, as well.  I am in my late 30s and I work a traditional job and I contribute the IRS max to my 401k to reduce my taxable income.  Based on my personal financial goals, my financial advisor told me last week that I am more than fine to meet those goals with where my 401k stands now, so I pulled some cash out for a new project. 

As someone above mentioned, its your money, and for me, it was quicker than tapping into other sources of funds I have. My rule of thumb for myself is never to pull out more than 10% and pay it back over 2 years (I think my plan allows me to pay back in 5 but I just want it repaid in case I leave my job).  Hope that helps -  I don't necessarily think its a bad way to tap funds, as long as you understand possibly penalties for non-repayment and make a point to repay.

 Thank you! We’re going to work on the kilz on the subfloor tonight but if that doesn’t work we will try to isolate the smell. Great feedback… And if all else fails will look at the plastic backing. You guys have been great with input. And I truly appreciate it.

Thank you all so much. You’ve made me feel a ton better. I was down at the house for two hours today cleaning baseboards, doing a light sand, and spraying Kilz on them. New carpet is not in yet and I’ve been holding off the carpet installer because I wanted to be sure the subfloors were completely addressed. 

Good to know I can just get a gallon of kilz and roll it on the subfloor and hopefully that will take care of the rest of the odor.  I wasn’t sure I could be used in that manner  and the subfloors are still in fine shape just stinky. Thank you all. And if that doesn’t work I will look into the SCOE 10x. 

 And last – yes – once this is done I definitely want to pick up another rental. After dealing with this pet odor stuff I feel like I can conquer anything! 

hi BP community - Happy new year! My husband I became accidental landlords 6+ years ago when we moved to a single family home and rented out the townhouse we had outgrown. We've been blessed to have no vacancy over the 6 years, steady rental income, however, we made the mistake (as many do) of not checking on the property and as a result the tenant must have acquired a cat that used multiple parts of the home as a litter box. 

Ughhh - we're replacing carpet and painting. Kilz has been a god-send for sealing in (or out, I  guess) pet urine odor on baseboards and subfloors under the carpet we removed (disgusting)...wondering if anyone else has proven remedies for getting pet odor out, particularly in stairwells (formerly carpeted). We've taken care of 90% of the odors with the steps I mentioned above but I still get a whiff every now and then and am hoping to get the property re-rented in the next 30 days.

Many thanks~

Megan

Make them pay in full for any further damages or pest-control visits.  They don’t really sound low-maintenance to me if they are continually causing damage to the property. If they are not going to work to address the problem I would work to get them out. 

You’re going to continually be dealing with this unless their behavior changes.   Curious to hear others’ opinions but that’s what I would do....

 I’ve withheld damage deposits for legitimate reasons, documented every instance, and never had a tenant come back to me on it. Withholding something like this out of spite is unethical and not legal.  

 Agree with poster above about judges not appreciating landlords who don’t follow the rules. If the tenant is nasty, he will likely litigate. There is nothing to be gained. Give the deposit back and drop the ego is my advice. 

glad everyone was safe !! And you know your detectors were working!

I don’t have advice or experience to share but wanted to wish you luck with that. Nothing like this kind of stress right before the holidays. Please keep us posted…. Also, can you just put the stuff out on the curb? I see it all the time in the city but not sure if it’s legal.

Agree - give him a firm date. “I need to have some sort of agreement by X date. If we can’t do that I need you out by Y date. “

Sounds like you have been more than accommodating. 

Just curious but are there other issues like late rent, property damage, etc?