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All Forum Posts by: Eric Love

Eric Love has started 3 posts and replied 8 times.

Post: Do you think giving my Porsche away is an Innovative Strategy?

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

No.

Post: Little Known Holiday Safety Tip

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

Chris,

My research indicates the gas accumulates in both gas and electric water heaters.  The heating fuel is not relevant.  The heated [and re-heated, and re-heated] water interacts with metal inside the tank, be it the metal anodes or other metal components.  Further, the gas will seek the highest level possible, so higher floors served by the same HWH may need to be "bled" a couple minutes longer. 

I'd recommend you discuss your particular structural layout with a "Certified Pipe Fitter" for more pinpoint advice.

Happy Holidays,

Eric Love,

Original Paper Landlord, LLC, and

Boardwalk Luxury Apartments, LLC

Post: My Tenant Compliance is Top 'O the Mark. Is Yours?

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

If not here's help:

1) Convert all your documents, especially your lease to simple, plain language.  Tenants

      can comply only with what they understand.  Think about it.

2) Avoid "cookie cutter", same-for-all type leases and documents.  Always have your

      forms adapted for your own property and examined by a qualified, licensed

      attorney to ensure compliance with all laws applicable to your rentals.

3) Create or purchase a document titled "Demonstrations of Appliance & Property Use"

    On check-in day, demo the use of *everything, and I mean everything (only takes about

    20 minutes) in the rental.  Have Tenant sign the form (there's just something about

    "signing on the dotted line" . . . makes one feel more committed.  (*location of Main

          Breaker; water cutoffs; range and oven (no use of aluminum foil); position of oven

          door for broiling;

4) Create or get my "Property Care & Use Manual" for your Tenants' reference at

          any time around the clock.  I have one with 28 sections.  The first page of each

          section contains my reminders/instructions and behind that is a copy of mnfg's

          instructions (if the section is about an appliance).  This will help you:

          a) improve your Tenants' care of your property, b) give you more latitude in

          charging for Tenant-caused damages ("all you had to do is read the manual

          instead of yanking that knob") c) keep your Tenants safer; d) minimize the

          number of calls to you the Landlord, e) deliver yet another example of how

          dedicated you are to serving and protecting your Tenants.

Positive results from following the advice above reminds me of a comment I heard from an outside salesman in the early 2000's:  "Good grief . . . cell phones, email, GPS . . . there's just no where else to hide any more".  As I chuckled to myself I thought how novel it was that technology has put every Sales Manager on the front seat by every outside sales rep.

Similar to the above paragraph, my voice is on top my Tenants refrigerators.  I like to think of the procedures above as giving my Tenants "the incentive to comply", instead of "no where else to hide".  And that's not a bad thing.  My Tenants stay safer, property is preserved, costs are lowered, my Landlording reputation is enhanced while my job is made much easier.

Happy Holidays everyone.

Eric Love, the Original Paper Landlord, LLC

Post: Little Known Holiday Safety Tip

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

Hot Water Heaters are thought to be a cause of mysterious home and apartment explosions after extended absences.  Hydrogen gas builds up in hot water lines of a hot water heater if not used for a period of 2 weeks or longer.  This phenomenon is known to definitely occur.  After the above period or longer of non-use, follow this procedure to be on the safe side.  Enter and extinguish/eliminate any chances of a spark or flame.  Turn on all hot water faucets for at least one minute to let any gas escape.  Again this is strongly suspected of causing home/apartment explosions after occupants have returned.  Please pass this along to family members, friends, Landlords, Tenants, Real Estate Agents and any others you know who may be at risk.  Be safe.  Happy Holidays!

Eric Love at the . . . original Paper Landlord, LLC

Post: New Member: original Paper Landlord, LLC

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

Hello All at Bigger Pockets,

I'm Eric Love in Jacksonville, AL  USA.  I've managed my own residential rentals for 51 years.  Being top rated for best run and safest for many years, I'd like to see my methods and forms live on.  Retirement is around the corner and my adult children have chosen other careers.  So you Newbies will be the beneficiary of all I can teach you, tell you or write to you about what has kept me at or near #1 in reputation out of some 60 places to lease in our area.  I credit the many plain language documents and policies I created over the years that have helped guide my Tenants around the clock, every day of the year.  It's been like having an Assistant Landlord on Paper; hence, the name "Paper Landlord".


I know that for certain.  Because part or all of my work has been borrowed and used by many from the "one house" Landlord to the Landlord "with hundreds of units".  I've stepped into quite a few costly potholes in 51 years, but I've filled and repaired every one I could find.  It's rare for me to be caught by surprise these days.  And I've rarely made the same mistake twice because I wrote the remedies into my documents through the years.  My methods and forms can be the "pothole filler" for you.  Lease with 51 years experience in your leasing documents.  Save on mistakes.  Enhance your reputation.  Reduce damages to a trickle.  Significantly reduce the risk of Tenant injuries and most important . . . Tenant deaths. 

 I've never had a Tenant who knew all I taught them on move-in day on how to stay safe with my "Demonstrations of Appliance & Property Usage".  You will be in awe of what took blood, sweat, tears, years and dollars to produce.  Prospective tenants can smell a Landlord who's only after the money, just like they can sense a fair but firm Landlord who knows exactly what he's doing and has his Tenants' welfare at heart.  I wanted a #1 reputation.  And I got it.  All the rest has followed. 

Post: Tenant wants to terminate lease mid-way with probable cause in Philly

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

Jessica,

I believe seeing the attorney tomorrow is a wise move.  Since your lease and lease-related documents came from a previous owner of the rental, I strongly suggest you have them reviewed by your own attorney.  As several stated or implied earlier, operating from a lease not entirely legal is at best unfair to a tenant and very dangerous for the Landlord.  As Landlords in the U.S., we all must comply with the law . . . local, state and federal.  As to your questions on my options for ending a lease early:  1) my lease's "one-money" buyout (#2) is a sum-certain amount which ends a lease prematurely.  The Tenant pays the amount and is no longer concerned with how long it takes for me to lease the unit again.  I arrived at the amount of 3 month's rent, with no buyout available for the first four months of the lease, because the timing gets me paid until we again reach our area's peak leasing season.  Sometimes I lease within 3 months, sometimes not.  After many years, I have broken about even with this method.  My option #1 is that the Tenant and I both attempt to find an "approvable" new Tenant.  This option is not "sum certain".  The Tenant could be out in a matter of days with little to no extra cost, or we could go to the last day of the lease and not find a new Tenant.  With either option the Tenant will have paid me in advance a $150 administration fee, and have agreed to later pay an amount equal to 1/2 the Security Deposit.  After all, time and expense occurs also for the Landlord in dealing with an attempted early-out.  And finally, how do I get the Tenant's cooperation?  I lease only, and I mean only, to the most qualified Applicant who will have "skin in the game".  That phrase could mean several things:  a credit score they don't want damaged by breach of contract or . . . . a first class leasing history they do not want tarnished or . . . the one I like most, having the degree of personal integrity that makes them want to do business in the manner in which they [and I both] agreed.  In closing, sometimes it's best just to "call it a day" with a difficult Tenant.  That may be where you are standing now.  Take your licks.  Learn your lessons.  And make it a focal point of your leasing program to never, ever . . . make the same mistake twice.  

Good Luck!!

Post: Tenant wants to terminate lease mid-way with probable cause in Philly

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

Jessica,

I failed to mention a couple things . . .

I'm a new member - you're my first post.  But my experience goes much deeper.  Forgot to mention I'm a top rated Landlord in Alabama.  I've managed and maintained my own residential rental property for the past 51 years.  We've been running smoothly for many years now.  Just about time to retire. Ha!

Post: Tenant wants to terminate lease mid-way with probable cause in Philly

Eric LovePosted
  • Involved In Real Estate
  • Jacksonville, AL
  • Posts 8
  • Votes 4

Jessica,

You've given a lot of information here.  Even after 51 years experience managing my own rentals, I'm not sure there is a definite solution here - only one that is negotiated.  You might consider what I have done for many years:  I use a document I created years ago that made this subject a part of the lease . . . it offers 2 options for a Tenant to buyout early.  When a Tenant signs my lease, the Tenant has already agreed to how the lease can be ended early.  Basically choice #1 Tenant pays rent til another tenant is found or #2, pay a one-money buyout a week before departure.  This does not apply to the active duty U.S. Military.  At last account they only need give 30 days notice (and I'm all for our fighting men & women to have that right).  And finally . . . I've always gone by the old adage that "a good understanding goes a long way in preventing a misunderstanding".  I hope this helps you.