All Forum Posts by: Mimi J.

Does anyone have any recommendations for landlord insurance in DC? Statefarm's quote was very expensive IMO but I may be wrong. It was close to $2500.

0 Votes

Baltimore, Maryland

Originally posted by @Nik S.:

@Mimi J.

Don’t wait the two months almost 9/10 times they will change their mind or find something else. If they want to give you a non refundable deposit that may be something to consider but your mortgage (if there’s one) and property taxes still keep generating in the meantime...I’d pass in my opinion, not worth it.

Nik, those variables ran through my mind...I listened to my gut and responded as Brian suggested. Needless to say, he hasn't responded back.

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Originally posted by @Anthony Wick:

@Mimi J.

I know you decided not to rent to them, which is good. It has nothing to do with the quality of the applicant. It’s about lost rents. We get these all the time. People ask to hold for a couple months. The answer is always a polite “no”.

Thanks, Anthony...it was a first for me and wasn't certain if this was common. As a newbie, I just wanted to be sure to handle my response correctly. A polite "no" is always a sure bet!

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Originally posted by @Account Closed:

It's okay to use your spidey sense in situations like this. Does that sound reasonable? if your best friend said to you that they had an applicant who didn't want to sign a contract until 2 months from now, what would you advise your best friend to tell those applicants?

Right. Run the other way.

Agreed!

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Originally posted by @Theresa Harris:

@Mimi J. If they want you to keep the apartment vacant for 2 months, then they need to pay you the rent. If it is currently rented and you won't have any vacancy (ie current tenant moves out end of Jan and the new ones move in Feb), then get a non-refundable deposit. A lot can happen in 2 months and what if they change their mind, then you are out rent.

Thanks, Theresa. I told him he could either pay rent for the two months or follow up later to see if the house is still vacant.

2 Votes

Originally posted by @Brian S.:

Hi @Mimi J. I would tell them to get back to you in two months if they are still interested to see if the property is still available. In the meantime, keep looking for other qualified tenants.

Thank you @Brian S!

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How do you deal with a potential tenant who would like to sign a lease in 2 months? The property has not yet been rented...has anyone ever been in this situation? I do not want to turn away a tenant who would like to sign a lease sooner.

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My advice is to visit the city's housing agency, schedule an appointment to speak to a housing representative and find out the in's/out's of the program first hand. In DC, Fridays are dedicated to landlords and once a month, they host a landlord meeting. This will be the most beneficial. I will say, it was they stressed SCREEN, SCREEN SCREEN for the most qualified tenant and executing your lease. For the later, she meant "evict"...in DC, eviction is not an easy process...it can take years to evict.

1 Vote

Atlanta, Georgia

Thank you, Jeff, I have done due diligence after reading your comment.

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What are the basic conditions/requirements for a property that is a fixer-upper to pass appraisal?

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All Forum Posts by: Mimi J.

Mimi J. has started 7 posts and replied 44 times.

Post: Landlord Insurance Recommendation in DC

Post: Potential Tenant wants to sign lease in 2 months

Post: Potential Tenant wants to sign lease in 2 months

Post: Potential Tenant wants to sign lease in 2 months

Post: Potential Tenant wants to sign lease in 2 months

Post: Potential Tenant wants to sign lease in 2 months

Post: Potential Tenant wants to sign lease in 2 months

Post: Tips on using rental properties as Section 8 housing in Atlanta

Post: Renters license Washington DC

Post: Appraisal requirements for fixer upper