All Forum Posts by: Michael Rossi

I would introduce yourself to the tenant and have him sign your month-to-month lease. I would not raise the rent immediately or ask for more security deposit. When a new owner takes over a (small) building, there is a huge risk that the tenants will leave if you immediately make changes. If you've got a good tenant, don't rock the boat for a few months, unless the rental market is hot and you know that you can get another tenant if this one leaves.

Tenants destroy screens faster than just about anything else. Throw that screen away and forget it!

In Ohio, it's nearly impossible to evict for anything other than non-payment of rent. That is why I ONLY do month-to-month leases. With a month-to-month lease, if the tenant misbehaves - I just give them a 30-day notice.

That's easy - NO! The stock market is now a giant ponzi scheme. The Fed is essentially buying stocks to create the illusion of an economic recovery. If the Fed stops buying (i.e. no QE3, the market will crash).

At least with rentals, I am in control of my investment and I make money every month. I'm not depending on a ponzi scheme to put food on the table.

Mike

Marc, you might want to check with your local Section 8 inspector before you take the doors off and throw them away. However, here in my area, if there are holes in the doors - they have to be patched. If there are no doors - everything is OK!

Full deposit IN CASH if they want me to hold the rental (pending application, pending receipt of rent, etc). Full deposit and full rent IN CASH before we sign the lease and before they get the keys. If the dollar keeps falling apart, I might change that and only except gold or pre-1965 silver coins (half kidding).

I would just like to point out that it is legal to discriminate, provided that you're not discriminating against a protected class. For example, I discriminate against all felons, druggies, punks that have to hold their pants up with one hand, anyone with head to toe tatts, and anyone that calls me "bub" on the phone (ignorant urban hillbillies).

I don't try to hide the reason that I'm turning them down. If they're a druggie, I simply say that I don't rent to druggies!

I was going to respond with a lengthy response until I read BryanA's post. So, I'll just say DITTO!

I spent the afternoon today trying to scrape the pad from a wood floor. The carpet was there and in good condition when I bought the place and I wasn't smart enough to just remove it then. The morons (renters) must have spilled 1,000 differents things on the carpet and the pad was welded to the floor. That is exactly why there should never be carpet (and certainly not carpet pad) in low-income rentals!!!

I have also started removing all interior doors from low-income rentals, thanks to our local Section 8 inspector, who let me know that interior doors weren't required for Section 8. My number one rule for Section 8 rentals - IF IT MOVES - REMOVE IT! Since interior doors are on hinges and move, OUT THEY GO!!! Therefore, I'll now apply the "if it moves rule" to interior doors, in addition to all the things BryanA listed!

Thanks Bryan.

Unfortunately, I am an EXPERT in this field - the field of government corruption and tyranny, that is. The bottom line is that government agencies and utilities can and do whatever they like - regardless of the law - UNLESS SOMEONE STANDS UP AND FIGHTS THEM!

Here in my local area, we have had ENOUGH! A group of local landlords is in FEDERAL COURT fighting the bastards AND WE ARE WINNING! We have also launched a campaign to kick the scumbags out of office and stop further tax increases. So far, we have defeated a local tax levy; humiliated the mayor and assistant law director in local elections; caused 3 council members to choose not to run for re-election; and will unseat many others in November.

There is a WAR on business in this country. If you plan to stay in business, it's time to FIGHT!