All Forum Posts by: Pam R.

@Steve Babiak - I agree with you 100%. I suspect the new guy brought them in exactly like you said - either one of his kid's backpacks, or the couch he'd been storing in his brother's garage (ok, I'm sure it's the couch). The moment he told us about the problem we were steering him down the path of paying for or splitting the cost of treatment with us - and then we found out the other side had them just a few months earlier. That's when we backed off, and decided to give him the benefit of the doubt.

So even though I *think* new guy brought them in, I can't ignore there was an infestation shortly before he arrived, It makes things ambiguous - I can't in all confidence guarantee they weren't there when he moved in. So I decided to just take care of it myself. It may not be the best business move, but I feel it's the "right" thing to do under the circumstances. It's a small price to pay for a clear conscience. In a different scenario, I wouldn't have eaten that cost.

Thanks for the links. I may print those out for my tenants too.

Brian - In response to your question about charging interest...personally, I wouldn't charge the guy interest. Not when he's stepping up to try to pay. Call me a softie (and few people do), but that doesn't feel like the "right" thing to do. It's not like he brought the bugs in purposefully or negligently.

We have a bedbug case right now. It's a duplex in Delaware, OH. Long story short - it's ambiguous where the bugs came from. We've only owned the place 8 months, and apparently one side was treated for bugs 9 months ago (we just learned this). It's the other side that has them now. So we're just going to pay for it - both sides. I want those bedbugs gone. If they come back...well, then the tenant and I will have a conversation about who is going to pay for it.

I was going to go with the heat treatment (wow - is that expensive), but I felt better about going with the spray when the recent inspector said the place sprayed 9 months ago is still bug-free. And the inspecting exterminator was NOT the same one who originally sprayed. We just had the place sprayed today - hoping the problem is solved. $900 for the entire duplex, basement and all.

@Chris Weiler - that is a great price you are getting.

Good luck.

@Account Closed -

1. We call immediately and them that they need to take everything with them, clean the place, and keep utilities on until they are officially moved out.

2. We post ads, and let the tenant know they will receive 24-hour notice of showings.

3. We ask what needs to be fixed, and get in there and repair BEFORE they move out, when possible.

4. We communicate at least once a week, to make sure things are moving along, and generally to find out if they are going to be out a few days early (they almost always are). We'll remind them of things that need done (hey, you have some garden tools you keep next to the house. They have to go. Don't forget the stuff in the basement.)

5. We work out the plan for paying the final water bill.

6. We schedule an inspection, perform the inspection, and get their new address.

To-date, all our tenants have had their full security deposit returned - even for tenants who broke the lease and asked to move early, and those we asked to move early. Places have always been left clean, intact, and already rented. (Granted, I only have 4 units, so I guess I've been lucky so far that move outs have always gone so smoothly.)

@Marcia Maynard - I'm stealing the feeding stray animals item. I've had several tenants who always want to feed stray cats...which makes them want a pet...and then they get a cat...and then I make them move.

We also rent in a college neighborhood, and have a couple of addendums to our lease - one is a Zero Tolerance for Criminal activity, the other is Tenant Rules and Regulations. A couple of highlights:

Tenant shall IMMEDIATELY contact landlord about any plumbing issues. Tenant shall not put anything in the toilets other than toilet paper. Costs of clearing stoppages due to misuse or improper items being placed in the toilet or other plumbing fixtures shall be charged to the tenant.

Lawn furniture is permitted, as long as it is in good condition and is actually lawn furniture. No couches or indoor furniture permitted in the yard.

In the event of any criminal activity in which the Tenant is directly or indirectly involved, the Landlord will take the legal measures necessary to evict the Tenant(s) from the Leased Premises. This includes but is not limited to illegal drug activity, gang involvement, and domestic disturbances.

I'm with Bryan - I've heard the closet rules, but have never seen them in writing. My personal home is listed on the county auditor's site - and on the MLS when I bought it - as a 4-bedroom. I have zero closets in the entire house. There are 2 actual bedrooms, one with a built-in wardrobe, the other with nothing. There is a loft area between the two bedrooms - it doesn't even have a 4th wall, and they must be considering it a bedroom. And the 4th bedroom must be the living room. Granted, it does have a door...but not sure how that makes it a bedroom. I don't know if the rules are different for 19th century homes or not.

I will say that my house is clearly a 2-bedroom, with a potential for a 3rd if I wall the loft. And I was surprised when I showed up to look at it and it wasn't a 4 bedroom. If I were you, I'd focus on truth in advertising - if you say it's a 3-bedroom, you better have 3 rooms that the viewers will think are actual bedrooms. If that means they expect a closet, or a wardrobe, then add it.

I don't think the house looks bad either. I agree with some solid landscaping work - the stump, lower branches on the tree, some nice shrubs AND flowers, bold color on the front door, and maybe paint the garage door.

We look at all of the above, primarily eviction history and income. I agree with Jack - I don't want tenants who are don't realize they are overextending themselves.

The other thing we really pay close attention to is personality - do they act reasonable and responsible, and are they going to be willing to comply with our requests and our rules? Again, this can be hard to determine, but we've frequently been able to find fairly extensive social networking and online information about our potential tenants to get a better idea about them before we sign a lease. And we learn things like...what pets they really have ("here's me with my cat!"), why they left their last job ("need a new job. stupid boss fired me for being late today. But man, that was a great party last night. Forget that job!"), and how tight their funds really are ("can someone give me a ride to the grocery? Battery on the car died and I won't have money until payday to buy a new one."). My favorite is when I find stuff they write about their apartments or landlords ("Hey - can someone keep my cat for the day? Landlord is coming to spray for bugs and I'm not supposed to have pets here.").

But sometimes you still get fooled. You do the best you can. And I only have 4 units, so I can take a couple of hours a couple times of year to do the research when we have a vacancy.

Hi Agnieszka.

It sounds like you have a plan to me! You are pursuing a field you want, that will provide you with an income to pursue other ventures (real estate rehab). If you can use your architecture degree to do rehabs - doesn't sound like you'll have to spend too much time at a desk. And I agree - architects don't make as much money as some other fields, but it's not a bad salary. You certainly would make enough to scrimp and leverage your income for your own real estate business.

And it's never too early to start - if you can find the right investment opportunity while you're in school, then go for it. And another option - pick up some summer jobs working in the field to learn more: Working hourly for a rehabber, doing apartment maintenance, gophering at a real estate office, interning at a loan office at a bank. You have some great opportunities and options available to you. It's fantastic you're putting so much thought into it. Keep formulating your plan,and it will all come together.

Best of luck!

Pam

Hi Agnieszka.

You sound ambitious! That's great.

Some questions:

1. Do you want to be an architect?

2. Do you want to be an interior designer?

3. Do you have any practical experience in rehabbing properties?

4. Do you have any money to start investing in real estate?

5. If you quit college today to pursue real estate - what would be the first thing you would do to set you on that path?

Pam