All Forum Posts by: Mike H.

Well, I see lots of posts on BP just on this.  Just read the posts more to understand the information people are looking for on property evaluation, then you can likely expect lots of feed back.  Good luck

sounds like you have not had a target yet.  from flip aspect, I would suggest to get familiar w/ material cost and know where to get your materials.  that should give you a better sense w/ your cost control.  good luck

any photos? what's the value of the area like? 

Studio tend to have a limited target tenant group, you may study a bit of the area on who rents Studios and advertise towards those groups to get a better exposure.  Good luck  

We always draft our to end late spring or early summer. If lease is renewed in winter/fall, we will renew w/ a shorter lease so it ends in summer. So far we have not had good Nov~Jan rental experience yet w/ SFR. But condos don't seem to have high/low season as the targeted tenant group is much different. (single/young professional)

Based on your description, it sounds like this could be a condo type of rental since you are dealing w/ one tenant.  (can't imagine a person rented a house for herself). I agree w/ Darren, the low season comes and goes, but having a trouble tenant in property could be more difficult than dealing w/ a vacant unit in lower rental season.  May have to deal w/ lower rent, but if filter well, this could be a better tenant for long term.  If I were you, I would do a 6 month lease so the lease will end before summer to make easier for next step.  Good luck

I have used Cozy and eRentPayment (tenant pays for fee to build credit).  Both takes few days to transfer the rent (eRentPayment (3 busness days) and Cozy (5 business days)) so the tenant should be making the payment prior to 1st of month in order to get the payment made in time.  I have also used Chase Quickpay and that seems to work well to younger tenants.  

Responsible tenants tend to use eRentPayment no problem, tenants not so disciplined tend to use quickpay more.   

Dear BP family,

I am trying to explore options to obtain loans for further investment funding.  Since we have a property recently paid off, I am wondering what are the options out there we could use to utilize this opportunity.  Thanks

@Christine Mwai I actually did read through your post :)  Glad you are getting the issue resolved.

Like many seasoned LLs noted on the post, I am also not comfortable letting tenants take care maintenance items that would affect property values. (repair; and now pest control may be a new one on the list) However we are still evaluating the situation since multifamily approach is slightly different than SFH. Need to find a balance.

@Jon S.  How you avoid a tenant with hygiene issues when you can only see financial and criminal check?  any other ways you have done in the past to avoid running into this issue? 

The property is in a good area of the city, and I have been getting great tenants except this particular case. 

And, no Hobbits with bad habits!