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All Forum Posts by: Dick Stevens

Dick Stevens has started 3 posts and replied 286 times.

Post: Screen Potential Tenants

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

@Stone Jin vacation rental??  Seriously?  He said it’s a F neighborhood.  

Anyways, minimum 600 credit score is asking a lot if it’s truely an F neighborhood.  Income 3x rent is unlikely too.  I’d probably go with weekly rent in this case.

Post: Tenants washer flooded basement - who is responsible?

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

Start by putting in a few dehumidifiers and fans and getting the place aired out.  Look for signs of mold and then go from there.  If there are substantial mold issues you could go after them based on the above mentioned clause in your lease.  I’d also inspect their apartment and make sure it really came from the washer and not a leak from above that came thru the floor and into the basement.

Post: Caught some of my tenants renting out rooms. What to do?

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

@Cameron Norfleet - $100 per month rent increase, retroactive to original lease signing for unauthorized occupants—- I like that idea.  Very nice.

Post: Large fee from my PM on a wasp nest removal

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

Take control of your property and manage yourself.  I knock down wasp nests with a stick.  No need to even spray them.  $200?? I’d be furious.  

Post: Renting a unpermitted living space

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

Are you a tenant at will?  If so, and you have been give proper notice in accordance with the agreement then you have to leave.  

Post: Security Deposit and provide itemized list - No Invoice

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

Unless you have pictures of those same areas from before they moved in to prove that the damage wasn’t there prior to their tenancy, then you’re SOL.

Post: How to tell tenant they are losing deposit...

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

You can’t charge them the full value of a brand new compressor when yours was old to begin with.  Also, why tell them anything now?  Wait until they move out.  Best policy is to bill for damages as you go, save the deposit for the end.

Post: First Rental from different state I don't know. HELP!

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

Are you currently a landlord with established policies and procedures?  If not, don’t buy out of state for your first property?

Post: Application fees refund

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

The fee is for your time to review the app, so no, don’t refund.  FYI in some states, such as Mass, it’s illegal to charge an app fee.

Post: Can i implement HELOC for my first time rental property?

Dick StevensPosted
  • Rental Property Investor
  • Haverhill, MA
  • Posts 290
  • Votes 185

Sure, you can do anything you want with a HELOC. You can buy $100k worth of skittles if you want. The world is your oyster.