All Forum Posts by: Sara K.

@Matthew Olszak hit on some great points - mainly that by underpricing your unit, you have attracted the wrong type of tenant pool.

If 2/1's rent for $1200, and I see one advertised for $900, I'm automatically going to assume something is wrong with the unit/area. Especially with all of the upgrades you said you've done, why would you list so far below market?

Also, don't forget to also get the prorated rent, and any other fees (HOA, etc).

Make sure you are familiar with your state landlord/tenant laws. Here in FL, we have to notify tenants of the bank and account where their deposit is being held within 30 days of receipt, etc, so that's something we had to do with our inherited tenant as well. We also sent a "welcome" letter, identifying ourselves as the new landlords, instructing how to pay rent, etc.

Beyond the lease, you want to make sure you cover every detail.

Jill, at you're looking for is called an estoppel certificate. Our title company handled ours automatically, so check with the title company (or whoever handles closings in your area).

Otherwise, you should be able to find a form letter online.

@Allende Hernandez I don't know if you saw my question, but I also saw your post in the Orlando forum. If it is the property in Alt Springs, there was sinkhole activity there in 2005.

Is this property in Altamonte Springs, by chance?

I'm confused by your numbers. How did you arrive at a $10k profit?

If you're all in at $100k and sell for $175k, your profit would be much greater than $10k.

Looks like a great rental to me. What rent amount did you put into the calculator? With everything being updated you should definitely be able to get the higher end of the range (and maybe even a bit more). 

Are you familiar with the BRRR strategy?

Suing seems extremely dramatic.

Why did you sign a lease without viewing the unit?

Honestly, I wouldn't bother. Unless you're going to have every piece of furniture and personal belongings moved out for this carpet cleaning, it's pointless to only clean part of the carpet.

Maybe it was just a bad buy? Maybe they have a tip or a hunch that something big is coming to the area that will force appreciation?