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All Forum Posts by: Megan McGinty

Megan McGinty has started 24 posts and replied 48 times.

Post: Amazing Cap Rate Near Cleveland Ohio!!!

Megan McGintyPosted
  • Cleveland, OH
  • Posts 50
  • Votes 16

Turnkey ready and just rehabbed! New carpet and fresh paint throughout. Bedroom with full bathroom on the first floor! Two more spacious bedrooms upstairs both connected to unique jack and jill half bathroom. Other features include: newer windows, 2017 hot water tank, newer roof and siding, and new appliances. Located near downtown  Cleveland. Seller just rented a lesser property a street over for $1250. Property management in place/available if needed!

MLS Link

Post: Nightmare Tenant: Help!

Megan McGintyPosted
  • Cleveland, OH
  • Posts 50
  • Votes 16
I’m so confused. Did you let her move in without paying you anything up front?
If they signed an addendum to bring their own, then tell them you will provide if you can increase the rent and they get their old appliances removed. I am not a lawyer, this is not legal advice.

Post: Cleveland, Ohio- water/sewer

Megan McGintyPosted
  • Cleveland, OH
  • Posts 50
  • Votes 16
I like the mafia comment! So true! Our company changes tenants $50 for the first occupant and $25 for each additional occupant age five and older, for water and sewer. On top of rent. We also track bills to make sure a tenant doesn’t go over on usage.
I’m not understanding why you would refund an application fee if you reject the applicant. The purpose of the fee is not only to make sure the applicant is serious but also to pay for processing costs. It takes money to screen tenants and time to fully process an application correctly. We only refund application fees if we have not processed the application at all. Basically when we have more than one applicant and we approve an application before them (we are first come first serve). That’s really it. I’d take the hit and learn from it. Threatening him will probably get you into more trouble then help.
Originally posted by @DJ Watson:

My dad always tells me, “When you look good, you feel good. When you feel good, you do good.”

So, it’s better to overdress then underdress.

 But what if you feel good only when your dressed in sweats? 

It’s not uncommon for an HOA to require an approval of the tenant and lease. It’s also normal for them to take awhile, boards usually only meet once a month and that is when they approve/disapprove unless they have designated people. I’d suggest compromising that you will give the security deposit now and the first months rent when a move in date has been confirmed and in writing.

I'd give just about anything to forever wear an oversized hoodie and leggings....

Post: How to deny qualified tenants

Megan McGintyPosted
  • Cleveland, OH
  • Posts 50
  • Votes 16

I’m not a lawyer but you probably are good then. First come, first serve isn’t a law it’s just recommended to make sure people don’t violate fair housing laws by denying a protected class.

Glad it seems to have worked out well for you!

Post: How to deny qualified tenants

Megan McGintyPosted
  • Cleveland, OH
  • Posts 50
  • Votes 16
I know this is 13 days old so you probably already sent your denial letter but if you run into this in the future, I’d make sure the other two applicants aren’t protected classes before denying.