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All Forum Posts by: Daniel Moffett

Daniel Moffett has started 0 posts and replied 2 times.

Post: Tenant constantly trouble with rent

Daniel MoffettPosted
  • Charlotte, NC
  • Posts 3
  • Votes 7

Hi Jason, 

This is a very common problem for investors.  It can be difficult figuring out how to navigate rent collections and then also to know how long to let things go before filing for eviction.  Here are a few things to consider. 

a) Don't accept partial payments
b) Stick to a hard deadline
c) File eviction immediately if the deadline isn't met

Doing this just holds residents accountable to do what they say they are going to do, which is to pay rent on time.  

There are many investors out there that successfully manage their own properties.  If you find out that you don't like certain parts of managing your own properties I would encourage you to reach out to a professional property management company.  There are plenty of good companies out there that could help with the problems that you are describing.

Good luck sir! 
Dan 

@Mark Fries Thanks for your opinion, I'll offer a little different insight coming from 15 years of professionally managing properties. 

1.  Marketing a property before it is ready will often attract a resident that is comfortable with the property as is (dirty, unfinished, and in disrepair).  In addition as sales agents know the first 2 weeks you are on market are the most important.  If you market a property before it is ready you will very often lose your most qualified residents.

2.  Taking care of your property is important.  Standard checks of the HVAC, Plumbing, and Electrical system should be put in place to make sure the major mechanical systems are cared for.  This preventative maintenance extends the life of your system and also ensures your resident moves in to a functioning property on day 1.  If you skip these steps you run the risk of starting your relationship with your new resident on the wrong foot! 

3. No, you don't need to pressure wash your house every time.  Pressure washing should be done when mold and mildew have built up.  Periodically power washing your home will help retain the curb appeal of your property as well extending the life of your siding by taking care of it.  Some houses need to be power washed every year or two in Charlotte, however most homes can likely extend that and have it done every 3-5 years.  

4.  North Carolina landlord law states that landlords can not charge for items that are normal wear and tear, however one is able to charge for any items that are considered negligence.  It is advised to do a property walk through at move out to determine which items are normal wear and tear and which items are gross negligence.  Often times the move out inspection will reveal items that are considered negligence.  These items can be deducted from the security deposit and can be used to offset some of the turn over costs. 

@Sean Boyle Hope this helps!  Please feel free to reach out to me personally if you ever need any questions answered, I'll be glad to assist.