All Forum Posts by: Account Closed

 it happens frequently enough in my area that ive figured out exactly how to word the 311 request so the city will bring a new one without trying to get me to pay $120 or whatever the replacement is.

anecdotally, its either trashy people with too much trash at their own house feeling entitled to someone elses trash can, thieves using them to cart stolen stuff around, or sometimes the trash truck just eats them.

"The company takes on the tenant trashed my house liability."    Can you say more about this? Is this like Rhino? Been contemplating that. 

Good to know. I've been looking for something more comprehensive and less "spoon feeding"... Seems like I will need to go through some extra steps for them to be comfortable having the protected information, eg an inspection of my office, locking file cabinet, etc. 

EDIT: Sorry I dont know what happened, this is the wrong thread. I meant to reply to this one: https://www.biggerpockets.com/...

 One thing that frustrates this is the big credit check sites that cater to smaller landlords (eg, cozy.co, mysmartmove, zillow's credit check) actually prevent you from seeing their SSN (and probably DOB but I can't remember). I have to use a 2-stage application where the 1st stage is a paper application which collects SSN/DOB, partially because of that.

In case you dont get a better answer, my first response would be to use something like petscreening dot com (I am not affiliated) to screen the request. I'd bet a steak dinner its just someone wanting to bend the rules, and that screening site was not messing around when I tried it out myself as a test. (surprisingly I havent had anyone pop this on me yet) 

Hopefully someone here has more specific advice.

Its a negotiation and distancing tactic for people uncomfortable or unfamiliar with being a landlord. The 'owner' set the rules, the manager is just following them.. If the tenant questions something or starts pushing a boundary, the 'owner' is the bad guy. If an akward decision has to be made, the 'owner' needs to be consulted. Being a self-managing owner is a very weird power dynamic at first, and how to play the role smartly, fairly but honestly isnt really taught anywhere that I am aware of.

I think its a newbie move, and I did it too at first. Now i only do it during showings. People try and hustle you more, and will act differently based on how much power they think you have. During showings I just tell them i do all the maintenance and there to show them around, and if they ask, I get vague about how application decisions are made 'later' and a 'whole process'.. not lying but diverting. if they press about ownership I just say its all 'professionally managed' and I try and figure out their concerns.. Too much pressing or asking if we are a 'private landlord' have been red flags. The reason I do this during showings is trying to get a feel for who the person is as if they were dealing with an unimportant nobody. I also try and be talkative and goofy, trying to figure out if they have a victim mentality (aka the world is always against them and nothing is their fault) or if they have major issues with authority. Those two factors have been the biggest 'bad tenant' psych factors I have found. (I am still small time though)

However, once someone is approved (or likely will be) and before they sign the lease, I have 'the talk' where i tell them I am the owner and then set expectations. If they arent comfortable with things they can move on. The psychological stuff involved in being a self managing owner could fill a book. Its probably the most emotional rollercoaster 'job' ive ever had.

Take the deal to a bank/HML and get the money to buy it for real if its that good a deal.

You would need a local attorney who knows how your local courts operate.   The eviction moratorium is so new and was so vaguely worded that local courts all seem to interpret it differently.  Any creative leases have probably not been put to the test yet. 

Either way, at the end of the day to get an eviction you have to go before a judge, so the lease needs to be compliant with that court's interpretation of the CDC order and any state/local moratoriums.  Really only a local lawyer is going to know for sure.

But for what its worth, in my area evictions for holdover are happening, so I am changing all my leases to Month to Month and plan to just end the lease if there is nonpayment, however I haven't had that tested yet.

It may not work for 31 units, but I have simplisafe alarms (I am not affiliated) I put in vacant units during rehab/turnover and use the activate/deactivate times to keep my cleaner and other hourly folks on the level.  They dont realize I can see the activations/deactivations and also don't assume its there to "micromanage" them like an employee time clock might be. (its not, its actually due to high crime in the area, just an added bonus)  

 Combined rents of 2k at a price of 100k looks nice on the surface.  It depends on the neighborhood, market and days on market for the listing, but 85k may be a lowball that gets ignored, I know it would here...

Water can be submetered and billed to the tenants for additional upside if the building's construction allows it.  If the heating system can also be changed to have tenant responsibility that would be great. I would be very interested in fully understanding the costs involved in providing heat and water, if water can be submetered and how the heating system works and what sort of expenses I will be looking at in the near future.