All Forum Posts by: Michael Robbins

I would send a letter to the tenant reminding them that the security deposit cannot be applied to rent during the course of the lease (verify you have this in your lease).  And then follow the process of required notices for non payment of rent as soon as possible.  After the tenant moves out that will be the time to tackle the damages and deposit accounting.  If you do not know where the tenant moved then double check your state laws on sending the tenant their deposit accounting statement. 

@Sacha Allen Here in Las Vegas as an owner-landlord and property manager I like accent walls, feature walls, framing some of the windows, cool looking ceiling fans...

@Rafal Soltysek You might consider looking at Henderson, NV.  Depending on your price point there is a lot of new development in the west side of Henderson (Raiders practice facility, retail, large tool company building, etc...).  There are townhouses and houses built 2007+ that make good rentals in my opinion.  

@Marlo Boutte I have stayed with long term rentals (12 months).  I think the air bnb thing can be all over the place (ex: city ordinances changing etc...).  If you have not already compare your estimated net on both options.  

@Darian Tannis You might consider taking advantage of the $0 down on VA loan now and use the cash for the rehab. I would look for a house with good bones (no roof, foundation, major renovation issues), but needs new carpet, paint, etc... In terms of timing the market, in my view is impossible. Instead focus on finding a nice house in a nice neighborhood that you would not mind keeping (even as a rental) for many years.

@Jonathan Roldan You might look at "yardi" in terms of software.  This can be helpful when you start renting out multiple units.  I like your comment on the lease being your "biggest fear."  I think having a strong lease is one of the most important elements in all this.  In terms of research, you might start to familiarize yourself with the local NRS landlord/tenant laws.  I would not try to create your own lease but it is good to educate yourself on it all.  

I self manage my own properties but before I did so I worked several years for a large multi-family company.  If I could summarize what is most important (unsolicited advice here): (1) Do not put the rental on the market until it is 100% ready for move in (2)  Provide a list of written and minimum qualifications the applicant must meet  (3) require the tenant obtain renters insurance (4) execute a strong lease (5) have a list of trusted and licensed vendors (6)  get good landlord insurance and possibly umbrella insurance if needed (7)  be quick to take care of work orders (8) let the lease dictate your actions/responses...... There of course, is a lot more to it than that.. 

@Emily Beatty I would verify that a water heater going out is not considered an emergency in Kentucky.  I highly doubt that it is but this would probably the property managers first defense in going forward with the replacement without your approval.   

I am a property manager in Las Vegas and I do not charge fees to the tenants or owners when renewing a lease.  I do not charge for making chances to a lease.  In my view this is part of a full service.  

@Julie S. Have you verified if your PM has assessed the tenants request to have an animal as a reasonable accommodation under the fair housing act?  I would first have the request looked at and guided by notice issued by the US department of housing.

The pet, even if approved as a reasonable accommodation, cannot be a nuisance, a danger, and of course the tenant would be responsible for any damages.  

I am in Las Vegas/Henderson.  I have two tenants that obtained rental assistance.  The most recent was in January and took at least 3 months from initial processing.  I have one tenant that has been working on assistance but funds have not been received.  At best the rental assistance is getting out very very slowly.