All Forum Posts by: Que Tran

@Justin Brown

When you're looking at furnishings, try to get sturdy furniture that is easy to clean. Get good kitchen supplies from a 2nd hand store or at local Salvation Army store - they will get stolen. Stock up on toiletries when they are on sale. And make a "house rules" binder to identify local grocery stores, restaurants, and things to do. Congratulations! It will be a fun ride:)

Hi Ryan! There are several good agencies in our area. I would recommend talking to at least 3 or 4,  to see who shares the same vision, same processes, and same future forecast. I'm with Home365 and would love share some strategies with you.  

I, personally have a few section 8 tenants.  They do stay with you for a long period of time.  The only down side is the cleanliness of the interior and exterior of the house.  You can tell them and complain all you want, but it doesn't stay clean for long.  

My parents did that when we were growing up.  I hated it, because there was always new people around.  But, I do understand the rewards now.  Definitely do it, if you are comfortable. But just remember to screen well, because the laws of roommates still applies, as if they were the only tenants.  It would just make for awkwardness if one party does not leave.

Do not return.  It is a deposit for damage or repairs, should they not buy or leave on bad terms.  But if they want to rent to own, you can dictate the terms later at the sale.  If rent is $700, you should collect $800 to $900, and give them a $100 to $200 monthly credit towards their down payment.  This is essentially locking them into the sale, in the future.  If they don't buy, they will lose this down payment assistance.  You would then credit them at closing as either down payment received, or seller assist.   But if rent is $700 and they pay only $700, what is the point of rent to own, when rent is all yours anyways.  They would have to give you a substantial amount upfront, to make it worth your while.  

I agree with most of the replies to flat rate it and add in with the rents. You'll drive yourself crazy trying to prorate, or split it fairly. What if one of them refuses to pay because last month, the other people filled a pool?  Just remember, you can't add more in for more people on the lease.  Could be a fair housing case.  Flat rate for everyone and you're covered.

I agree, they do have a lot of terms and conditions to read through. I personally filed a claim for a boiler.  They took forever to find a qualified and approved vendor to come and look.  Luckily, I didn't have a tenant yet, so the time lag was not a huge factor.  If there was a tenant, this would have been a disaster.  But they cut me a check a for $3k for a new one, so I was happy.  

Definitely full screening like any other tenant.  But, what happens if they break up?  You don't want to give him equal rights as her - because you love her and want to protect her and your apt.  If you put him on the lease as a co-applicant, he will have equal rights as her.  You don't want that.  You will want to add him as an additional occupant only.  So when she falls out of love with him, he can't claim the apt, or try to have her removed.  Trust me, it happens more often then not. Also, you don't want to split the rent... she should be responsible to pay the entire portion.  This means that: if he wants to help, he should give her money, and she in turn pays the rent.  Not your responsibility to collect twice. Hope this helps ;)

I would say generally no.  But on a really high end rental, I would provide a really nice white liner, so it shows well, or to prevent someone from using really cheap ones, that let water out on to the floor.

$55 is a lot. I agree, $30 to $35 is fair.  We use to never charge, but too many people were applying just to apply and see.  Once we started to charge, we got rid of all the riff raff. People who you want as tenants, know there is always a charge. The outraged ones are the ones you won't want as a tenant.  Once you approved someone, make sure you get a deposit asap to book the unit. Make it non-refundable, so they can't just walk away. This ensures you don't waste time.  Happy hunting!