All Forum Posts by: Sean N.

I have a SF rental that I want to sell and 1031 into a duplex.  Couple of the local banks and CU that I've worked with in the past all say 25%.  Wondering if I can find a bank that's able to do 20% so I can look for a higher end duplex rather than spending more money to get into a less expensive one.  

I get billed every 3 months.  I'll give some examples: 5/18 - $193, 8/18 - $230, 12/18 - $249, 3/19 - $254, 5/19 - $293.  It has steadily increased which makes me think they are using the outside water more or there is a toilet that needs to be replaced due to some old parts in the tank and might have a slow leak that's just getting worse with age.

Thanks Jennifer T.  Sounds pretty straight forward and easy for the tenant to understand.

I called them to see if they might have something on record to compare but without an address they don't know which ones are duplexes or SF.  On a side note, one of the tenants is moving out next month and it'll give me a chance to swap out the fixtures for low flow and also check the toilets. 

A current tenant will be moving out next month and I'm excited to get the unit ready and have it rented out at the current market value.  

I heard in the past that a land lord can have the new tenant sign a form which explains a bug problem.  Either be ants, cockroaches, bed bugs, fleas, etc., and the first 2 weeks of move in the land lord will take care of these problems but after that they tenant is responsible. 

Anybody have a form I can use?

Thanks

@Jaysen Medhurst, thanks for the reply.  When I first bought the duplex a couple years ago there were locks on the outside spigots so I left them in place but later one tenant asked if I can remove them so she can water her flowers and have a slip and slide for 2 her kids.  She said she would gladly pay the extra usage but how can I claim her usage without a fight.  She would claim the neighbors are using it just as much.  One day there was a leak in the upstairs bathtub drain and after getting it fixed she made a remark about her daughter always takes baths.  I'm also sure her husband is washing his car too but can't verify.   I'm just assuming since he drives a Cadillac Escalade with those huge 22" fancy rims.

Maybe the amount that I'm paying is correct so I was hoping someone in the same area might chime in to compare notes.

Not sure what category this would fall under but I bought a duplex about 2 years ago.  The water bill has kept going up.  Google doesn't provide any help to find a company to install submeters.  Anybody in the Wyoming, Kentwood or Grand Rapids do this?

Thanks

I closed on a duplex several months ago.  One side was vacant and the other tenant has been there for 26 years and was still paying the same amount in rent.  Since they were month to month I told them that the rent was going up $400 to get "just a hair" under market value.  They didn't have a problem with it.  But, and that is the big "BUT" you have to give them a 30 day written notice of the increase and write a new lease agreement.  Good luck and congrats.

I've been listening to the bigger pocket's podcast for almost 8 years now, maybe 9.  The wife wanted to come to Hawaii for a couple weeks so she picked Honolulu.  We went to the mall one day and I picked up a book at the local store and it was Brandon Turner's book on Managing Rental Properties.  Dang, I should have picked a place in Maui so I could take Brandon out for lunch at Red Lobster or something and maybe he could even sign my book.  Either way, still enjoying Oahu.

Aloha @BrandonTurner 

My luck comes from hooking up with a local PM company that also has an agent on staff. They sometimes know and have information on upcoming properties that they are managing before they hit the MLS. They might also know of some owners that are just thinking about selling, aka 'the tired landlord'. Good luck in your search.