All Forum Posts by: Brad Larsen

We have a standardized lease renewal rate in the lease agreement.  It's kind of a minimum for the going times but is always subject to more - or less - depending on the owner of the home.  We feel it's best to add it to the lease up front to inform the tenants from day one that things go up over time, and it's automated.  Hope this helps! 

You want to look where the population is moving. Texas is general and San Antonio is particular is seeing a huge influx of people moving in. This is means increased rents, while home prices are still low. If you have any questions about the San Antonio market, feel free to message me, my company manages nearly 1000 investment properties. 

Carlos Welcome to BP. This is a great city to get started in and a great community to get connected with so you're off to a great start. Good luck on your new venture! 

San Antonio is a hot area right now, lots of new investors looking into buying property here. 

Hey Robert! From what I can tell, looks like a good investment! 

It sounds like what you need to do is seek a professional's help (a property manager). There are companies that will find you a tenant, screen them and help you write the lease. As you are coming to realize, there is more to being a Landlord than just finding a tenant, and writing a lease. You need to consider Hold Over Rent, how maintenance will be handled, late fees, etc. Currently in Texas rent is late on the 5th and the maximum amount in late fees that can be charged is 12%. Do you have a standard criteria for a tenant to protect you in case someone tries to sue you for discrimination? Is your home up to property code? What kind of inspections are you doing? My advise would be if you absolutely want to manage it on your own (wouldn't suggest that at all) would be to find a property manager to help you write the lease. Owning a rental property is a business, and you should treat it as such. 

You cannot evict based on your feelings.  

If you admit the stairs are not great, then just make the repairs. It seems like you will have to do it eventually anyways. Save yourself, time, money and a headache and fix the stairs. If she does fall, you want to make sure that you have done your due diligence to make the home as safe as possible for her to live in. If she has submitted it in writing and you are ignoring her because you think they're "fine" that could open you up to liability. 

If she is realizing that she cannot physically do the stairs and they are structurally sound, then offer to let her out of her lease, but if the stairs are truly unsafe then FIX THEM! 

Having a rental home is a business. Treat it as such and put your feelings to the side and do what is best. Being petty does not make you a good Landlord. 

If she is a handful, let her lease run out and do not renew her.  

Recommend Heirloom Management in Duluth. 

@Tom Ott  Well done and spot on.  Great article.  We always try to relate it to a dollar figure.  Pay someone $20 an hour so you can free up your time to go out and make $2,000 an hour with another investment.  

@Jason Lopez Bought and lived in my first house in 78247 - Eden! We would recommend staying in San Antonio. There is no reason to take on further risk out of state when good numbers, appreciation, and future growth are in your front yard. You can leverage the $200k with putting 25% down on 3 or more SFH homes. Duplexes are over-hyped, and under-appreciated. If you want to sell, they are tougher to sell. A good SFH under $200k will liquidate in minutes around here. Get in touch with us and get involved in our off market pocket listing program along with working with a buyer's agent who will show and sell you only the properties that we can manage. Thanks @Steve Rozenberg