All Forum Posts by: Albert Johnson

Quote from @Albert Johnson:

I have a rental that has been vacant for a month and a half. It has a lot of interest but few potential renters that actually want to move forward beyond that. 

(I feel like my pre-screening may be keeping people from moving beyond just being interested)

One potential renter is really interested  but has an eviction. I have a no eviction policy. I listed this as part of my pre-qualifications for the unit. I said I may consider depending on what the eviction is for.

The potential renter said it was for non compliance. Another landlord wanted him to put his fiance on the lease and he didn't do it.

He says she doesn't live with him and she is his care taker. Would you consider someone with this type of eviction or continue to wait?

As part of my pre screening in my ad, I list no evictions, how many people plan to occupy the residence, can you pay first month's rent and a security deposit, pet deposit and pet fee if they have any, and a background screening

I have a rental that has been vacant for a month and a half. It has a lot of interest but few potential renters that actually want to move forward beyond that. 

(I feel like my pre-screening may be keeping people from moving beyond just being interested)

One potential renter is really interested  but has an eviction. I have a no eviction policy. I listed this as part of my pre-qualifications for the unit. I said I may consider depending on what the eviction is for.

The potential renter said it was for non compliance. Another landlord wanted him to put his fiance on the lease and he didn't do it.

He says she doesn't live with him and she is his care taker. Would you consider someone with this type of eviction or continue to wait?

Quote from @Tyreek King-El:

For a duplex I'll be closing on soon, the utilities were owner paid. Is it fair to say that that can go out the window as soon as the current tenants are out (which they will be before close)? And if so, for anyone who has used the RUBS system, what is your rebuttal for the instance that is a tenant not using the utilities that my RUBS system calculates them for using? I understand RUBS is a mathematical way to assume what each tenant uses, but truly how accurate is it? And lastly, anybody have experience splitting meters, how hectic is that process?

 You could also get a submeter.

All good points. To add my 2 cents I think once things begin to rupture due to the cost of borrowing increasing, rates will go back down.

If they continue with rate increases this will ripple through the economy causing bankruptcies and large financial institutions to write off bad debts as losses . Businesses will go under.

This will dry up new lending removing liquidity from the sytem. Consumers begin to panic and sell properties at a loss in order to recoup much of their investment as possible.

Quote from @Nathan Gesner:

Quote from @Albert Johnson:

Do any of you use smart locks for your rental? If so what are the pros and cons?

Also how often you change batteries?

 I use a Schlage because it's easy and works every time. You can install them in under 15 minutes, they are easy to program, and there's a key as a backup in case the battery dies. I have two of them on my personal home with five people in the family and the batteries are still goingn strong after nearly four years. I would avoid anything with fancy Wifi or Bluetooth technology because that just adds complexity that is likely to confuse people or break down.

 Thanks👍

Quote from @Joel Case:

I have used a Schlage smart lock on my primary for over five years and use a Schlage Encode at my STR. Batteries generally last over a year, it's a non-issue for me.

 Thanks.

I am considering smart locks. I'll take a look at them.

Do any of you use smart locks for your rental? If so what are the pros and cons?

Also how often you change batteries?

THE UNITED NATIONS IS CALLING ON THE FEDERAL RESERVE AND OTHER CENTRAL BANKS TO HALT INTEREST-RATE INCREASES

Looks like the pressure is on.

I agree with James. I don't think prices will drastically fall. They may fall 10%-15% more.  There is too much debt in the economy for rates to continue much higher. Everything is coming to a standstill with these interest rate hikes. There is still a housing supply shortage.

Also remember this past housing run was no bubble and speculation like the previous bull run. We are in different times.

I know every house isn't perfect unless you buy a new house even then it might be some small issues.

How do most of you deal with home inspections? Do you let it deter you from getting the house? If so what issues?