All Forum Posts by: Ryan Heywood

Thanks for the input @Long Dang @Sean McKee. I just haven’t had market rents go up this quickly. The building was at $575 when I got it in 2019 before rehab. My management company does do the lease ups so I’ll probably default to their recommendation. It’s just crazy to see how fast the prices have gone up.

I have a tenant coming up on the end of their first year, and am having a little difficulty on setting their renewal increase. We leased to them after doing a complete remodel and market was $995 last year. In that time rent had go up 40%, we just leased a comp for $1399. 

My management wants to go up to $1200, but I’m used to increases being more along the lines of 5-10%. They are good tenants, and the are is not great but the unit is new and clean. 

This is in Phoenix

@Carolyn Chupa pavers, gravel and a small patch of fake grass would provide a good setup. I also like a simple hedge such as Texas privet that would need minimal maintenance. You could see about slipping the cost of a gardener in for monthly or quarterly visits. A pressure wash and stain would help the fence.

@David To I agree with you 100%. I think it is entirely up to each one of us as individuals to look after our own needs and ensure we have a roof over our heads. I always thought that San Francisco was a good example of this. No one is entitled to a Pacific Heights apartment, it is up to you to create enough value to afford to live there.

My comment on partnership in solving the housing crisis has to do with California making it more attractive for landlords and developers to do business here. The state has a goal of building 3.5 million new housing units by 2025. One of the most efficient ways of doing that is apartment buildings, most of which would likely be rentals. It seems counter intuitive to call for that level of development, and then turn around and throw landlords under the bus during the Covid crisis.

Our state is currently pushing the construction of ADUs, perhaps the easiest and cheapest way to add additional housing. This may also cause home owners to second guess that option as well, for why go to all the trouble if it could blow up on you like this.

It’s ironic that the state is essentially leaving landlords high and dry, while at the same time calling on them to step in and help solve the housing crisis. I’m constantly on the fence about building a small apartment here in California and this definitely pushes me away from that.

I’ve always believed that every regulation away from a completely free market leads to reactions that require additional legislation to solve, that again creates additional problems. This cycle creates an absolute mess. I wonder how this would have played out in the absence of any moratoriums.

The state is going to have to realize that we would make much better partners than adversaries if they want to get anything solved.

@Kevin Rea Some aspects of San Francisco get a bad rap, but outside of the current homeless issue it ranks up there as one of the most beautiful major cities I’ve lived in or visited. Hard to beat without leaving North America. The Napa Valley is can also be pretty good if you want a slower rural pace of life without giving up the Michelin restaurants, though you’ll need a large pocket book. Only visited Boulder once, but it struck me as very in tune with the great out doors and full of the fittest people I’ve ever seen collectively.

Interlaken and Nice are also quite noteworthy in my book.

@EJ Kanive

If you wanted to cover your bases, I’d send an itemized list of the removed items and some photos to a commercial re lawyer. I can’t imagine it would be more than a couple hundred bucks if that. Great peace of mind. Good luck!

@EJ Kanive here are a few articles that may be helpful.

This is not legal advice, but after doing some quick research I found the following. What you need to do is differentiate between “fixtures” which stay with the building, and “trade fixtures” which go with the business. I would think that she would have to leave any improvements that replaced pre-existing parts of the property. If the property has a toilet, and you replaced it you would need to either leave it or reinstall the previous one. As for item that specifically related to the business of running a daycare that she installed, I would imagine those are hers to take. I would consult an attorney to make sure that everything that must remain is there before handing over the keys. The lease will also be important to reference. Hope that helps.

https://www.iowacourts.gov/static/media/documents/21195_353E2E499ED15.pdf

https://www.google.com/amp/s/www.natlawreview.com/article/who-gets-what-when-real-property-lease-terminates%3famp

@Marisa Alvarez

The fire marshal would be able to quickly tell you where each alarm needs to be. Wouldn’t hurt to verify that everything is in the correct spot while your handling this.

@Llewelyn A.

I’m currently doing exactly the same. Security cameras that go to the cloud and remote meters for the water. I’m going to look into this for the smoke alarms. I totally agree in moving things towards tech oriented solutions. I’m going to look into these.