All Forum Posts by: Suzette T.

Tenant is whining that it gets "up to" a whopping 78 degrees in the afternoon? Sounds like tenant needs to stop whining. Sorry, it's not always possible to cool more than 20 or so degrees below outside temperature.

YES! Looking for diplomatic ways to explain this.

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Originally posted by @Ryan Scott Isacksen:

Hi Steve, I think @Kim Meredith Hampton sums up things pretty well and yes all of those things she said like to happen on the same day to keep things interesting.

I don't know how much direct networking on the investing side the PM job will give you. It may be a conflict of interests to be talking to owners you represent about side investments. That may not be a good start with a new company depending on the culture and may be against their policy.

You will get intimate knowledge of all aspects of running a property through PM experience. You can probably use that to persuade a lender to work with you on a bigger deal in the future with that experience.

You will learn about the expenses that come up and what they cost. You will negotiate with vendors and have an idea of why a PM taking care of your eventual investment makes certain decisions while taking care of your property.

You do have to have a bit of patience. You will be dealing with people at their worst, though solving problems will make you those people's hero.

Other pros not mentioned is there is great job stability. There isn't going to be a downturn in the need for someone to manage property.

I was at the city office picking up permits for some repairs to a building I help take care of. I spent a bit of time waiting and finally was at the point paying for the permits. I was pleasant to the person at the counter helping me and she commented, "This must be a pretty easy process for you if you are in a good mood." I responded, "No, it has been quite a bit of a pain and rather time consuming. I work in property management and you are giving me great job security."

Other pros not mentioned is there is great job stability. There isn't going to be a downturn in the need for someone to manage property.

This is so true and gave me a good chuckle! :)

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@Austin Cooke

Curious what you decided! Hoping you've had success!

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Brainstorming:

-say you will be installing/adding an AC to the unit and due to this rent is going to be $1500.

-communicate how much you like having them at the property, you want to offer a competitively priced home so rent will be $1500 - then give them $100 back after they pay Dec rent on-time

-ultimately check your numbers - is property tax increasing? insurance? is a cap-ex expense looming in near future?

Even if you increase to $1500 or $1600, they probably realize they are getting a good deal according to your market mentioned above.

Good luck!

1 Vote

Originally posted by @Greg Gangle:

Thanks @Hai Loc and @Marc Winter. If I do purchase, I will 100% upgrade right away. I just don't like the idea of using 100% of my own money for the upgrade. Mind you the home is underpriced….most homes in that area are at least $80K. I'm hoping I can do this upgrade and a few other minor things (windows/paint) then possibly get it refinanced for the $80-90K and claw some money back.

Good luck! We have run into that and our electrician always recommends the upgrade!

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Originally posted by @John Edwards:

@David Boatman not a bad plan at all. We own 2 11-year old vehicles and are achieving other goals quicker as a result.

Ditto!

And maybe @David Boatman can buy another in 3-5 years!

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Originally posted by @Cody Campbell:

@Suzette T. What does the original contract say? This is what should guide your decision on this. The contract is to protect both you and the tenant. They know what they can and can't do, and you know what you can and can't enforce. If you have a good relationship with them just go talk to them. In the lease it states no pets, we allowed the one cat, but this is now in breach of the contract and needs to be removed.

Hope it helps

Thanks Cody.

The original lease is no pets, unless discussed and addendum added. We also verbally told them to ask us first...which putting a chicken coop and three chickens and then asking us is not even close. Yikes.

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It is in our lease. We deal with the big issues. Some of our tenants are more tending to the property than others.

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Hello BP helpful members!

My husband and I are at a bit of an impasse on how to handle our current situation.

Our tenants got a kitten about a month ago. For those of you from the country, a barn cat, so to speak. Very good for mice in the country. We were fine with that, added an addendum with no deposit and carried on.

Just yesterday we received a text and photos of three chickens in a coop at the house as well as a second kitten.

My husband is confident in these tenants and the amount of care they put into our home, however I am a little scared to be a "yes" man for every request, especially since they already have the animals at the house.

My response is following. Is this too harsh? Not reasonable?

How do we negotiate this without damaging the landlord-tenant communication and relationship?

***My email typed-up NOT sent:

Alright here are the terms for the "yes". We will bring this addendum for you to sign, when we come for the deposits.

A. Monthly pest control by your dollar because of the flies with the chickens - email the monthly invoice so we can see that's being done. Must be started within 14 days of this email being sent.

B. A $200 non refundable deposit for sod replacement for the chickens.

C. A $200 non refundable deposit for the cat inside - we were under the impression it was an outdoor cat and it will be extra cleaning to remove hair and odors from the house.

D. A $200 refundable deposit for the new outdoor cat.

Any other pet / farm animal from here on out will be $200 non-refundable per animal. And is not to be put on the property until after we have received the deposit.
Please respond within 48hrs with your decision. If you choose not to go forward, we will give you seven days to clear the animals out.

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All Forum Posts by: Suzette T.

Suzette T. has started 3 posts and replied 115 times.

Post: Having trouble finding a deal

Post: Tenant angry about AC

Post: Property Manager Job

Post: Property management job before REI

Post: Lease due in December

Post: Knob & Tube Wiring - How much value can be found?

Post: Sold my dream car...Porsche 911 S.....am I crazy?

Post: Pet Policy Addendum Quick Help!

Post: Tenant responsibility for small repairs?

Post: Pet Policy Addendum Quick Help!