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All Forum Posts by: Ned J.

Ned J. has started 12 posts and replied 1921 times.

Post: Interior damage caused by current tenant - Renew lease or not?

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

Current damage that exceeds normal wear and tear, needs to be paid for in full now if they want to renew the lease. That way the deposit is still in effect for damage when they move out some day. If they are unwilling to do that, then do no renew the lease.

The water damage is a bit more tricky...since its a defect in the unit that created it, and they just did a ****** job of reporting it, then its harder to stick them with the bill. Hard to prove in court and make it stick.... regular inspections on your part may have avoided it or limited the full extent of the damage. So you may have to eat that aspect.

Increase the deposit for the pet as part of the renewal.....and dont fix the current damage until they move out, or you will just fix it again. You may have to fix holes in walls to do the paint, but I would not do door jambs, baseboard or other stuff that is not required to paint. 

Post: Why Airbnb no longer works for most

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

I've never actually used an Arbnb but have looked a few times. After all the tacked on fees that have been climbing (some of the cleaning fees were crazy in light of what they expect you to do to clean it yourself), I didn't see a huge benefit vs a traditional hotel.....so I passed. 

Post: Should I allow this from a prospective tenant

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

There ya go...the best choice is as clear as mud :)....... 50% NO and 50% YES.....

Personal choice....... my choice would probably be NO. Although this is a "tenant will pay for it" - this time, this sets the precedent for other changes that they may want in the future. If I ever let a tenant make a change at their cost (very rare that I do), its made perfectly clear that they will not be reimbursed for it EVER. Lots of tenants will try to use it as leverage at a later date....when they leave and you dont give the full deposit back.....when they are late on a payment..... when they screw something up and you make them pay for the repair.  "Remember when I did XYZ and paid for it myself?"......Just not worth it.

I rent my place "as is".... you want something different? Find some place else.... I may accommodate a long term good tenant down the line.....but not on day 0...

Post: tenant says he's afraid that his infant will cut her fingers on brand new radiators.

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

Baby proofing a unit is not the responsibility of the landlord.

The heater unit is installed as built.... there is no defect in it that is the responsibility of the landlord to "fix" to make it meet original manufacturer design. Nothing in the original design is missing. If the tenant doesn't think the original design is safe for his child, talk to the manufacturer or install something that makes it safer in his view..... not the LL responsibility 

Post: New investor in the DFW area

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

No body ?

Post: Question about lowering the rent

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

I think you have messed this one up bad enough that its time to let her go and start all over

I would do a letter like Greg suggested.... there is no contract/deal until paperwork is signed ..... after her long delay, you have reconsidered your terms for her renewal..... these are the new terms, take it or leave it. Doesn't matter if you put it in writing as on offer in an email or text...she hasnt signed a lease and neither have you. Consider it a blessing that she flaked and kept ignoring your original offer- Dodge the bullet NOW....

DO NOT RENEW HER UNLESS SHE PAYS AT LEAST CLOSER TO MARKET RENT..... if you think your unit doesn't really meet market standards to get market rent, then at least get it closer or at minimum keep it "as is"... DO NOT REDUCE THE RENT.....

Post: Question about lowering the rent

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

Market sets the rental price.... not tenants being persuaded to stay. 

I dont paint/change colors or replace flooring unless I decide they need to be done... not the tenant..... And 99% of the time that happens at tenant turnover...not 7 months into their lease

If the market "softens" then I may pause any increases, but I never drop the rental rate unless the market plummets. You are already on the low end, why drop it more?

IMHO you made a huge mistake in offering to drop the rate....let her leave and find a new tenant that will pay what the market rate is currently.

Post: tenant says he's afraid that his infant will cut her fingers on brand new radiators.

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

So do they expect you to completely child proof the house for them? Yes this is any area of concern for a child to injury themselves...along with dozens of others in the average house. As a landlord you cant be expected to "fix" them....not gonna happen. 

As someone described there are mesh products you can use to block off that vent... and handyman can easily do it fairly cheap. But I would make it 1000% clear this is the last "convenience repair" that will be done. Any other repairs need to be for health and normal safety concerns or for the health and safety of the property itself. 

This is not a good sign so far..... I would offer to let them out of the lease with ZERO penalty, if they feel the unit is not safe for their child- get that in writing. 

Post: Just spent $7,000 on home warranties..?? 😫😳

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

Home warranties are a scam....Nathan spelled it out perfectly.... they tack on fees for every claim, hire crap companies to bandaid the issue, take forever, crappy customer service and communication. Their business model is just like any insurance model.... take in the most $$ and pay out the least... its that simple.

Keep reserves and find your owner repair companies to do business with...

And it took 6 months and multiple companies and visits to even look at the filter? That's step one on just about every troubleshooting guide for an HVAC unit....

Post: New investor in the DFW area

Ned J.
Posted
  • Investor
  • Manteca, CA
  • Posts 1,946
  • Votes 2,151

Any of you familiar with the Stephenville area? Kind of out in the middle of nowhere, but my son just started college at Tarelton and we live in CA, so its on my radar now...university has plans for big growth in the next 5-10 years.