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All Forum Posts by: Tamara R.

Tamara R. has started 15 posts and replied 157 times.

Post: Cosigner (how does it work)

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

I have a couple of leases with cosigners. Their name goes on the lease portion where you are making the agreement between you and them and the people they are signing for, but not on the part where you list the occupants. If cosigners live in another state, it might be pointless to have them as cosigners I am told.

Post: Where are the tenants!!!?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

You can pretty much write off December--people just aren't looking to move between Thanksgiving and Christmas. I have heard of the some landlord's offering $99 move in specials (but only to very well qualified tenants) just to get someone in place. $99 moves you in, then tenant is allowed to pay security deposit in installments. ONe hurdle this time of year is not being able to come up with money due to overspending on the Holidays. In Feburuary, tenants are getting their tax refunds and this provides some opportunity as well. Be sure to get them before they spend those refunds. . . .

Nobody has told me that at all. Sometimes I get several apps, though and I don't want to be one of those people that collects lots of fees without the intention of renting to the person (not everyone does this, but some have no qualms about it). I deal with a lot of military tenants, and often they have to visit several places in a weekend (before they move) and might have to put in applications with several landlords in order to secure their next place. I have had one tell me they would appreciate not running their credit until I think they may be the top candidate to avoid the fee and the ding to their credit.

I have a thorough application that asks questions like: Have you ever been evicted? Do you have checking/savings accounts and if so what is your balance? Do you have enough money currently to pay first months rent and security deposit? Where you ever late paying rent? etc. I do collect $40 per applicant, but I tell them that if they are completely honest on their application, I can tell them in advance whether they would pass the screening. ONce they give me the OK, I do a thorough screening, run the credit and charge them the money. If they sign a lease, I let them deduct the application fee from the security deposit. Its not really required in my market, but its just something I do, as I understand coming up with lots of app fees can be quite a drain. THis might be something that would work for you as well if people feel coming up with the money is a hardship.

Post: How to state security deposit deductions?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

To clarify, if your state allows you to charge for your own labor then I would find a way to pad your bill and include the fee. Otherwise it might not be possible because you will need to have receipts.

Post: How to state security deposit deductions?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

Does you lease state that any monies received will be applied first to all outstanding fees and then the latest rent due? If so, I would call it "outstanding rent" or "rent not paid," as they would have paid the fees first and been overdue with the rent. If your lease does not state this is there a way to pad your bill to compensate for the money owed? If the tenant isn't collectible, most likely you'll never get the money anyway. . .

Post: Opinions of no-smoking and no-pets?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

Mattie Covatch: No I don't put any restrictions on cooking--that's something a person has to do (unless they eat out a lot). I do supply a fire extinguisher in the kitchen, though. Some landlords restrict the use of propane and charcoal grills, but I don't do that. I don't consider not allowing candle burning to be that big of a deal, but maybe I am wrong? I used to burn quite a few candles myself, but now that I have active kids and pets who are prone to knock things over I primarily use those fake candles for ambience. I haven't missed them too much.

Post: Opinions of no-smoking and no-pets?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

@ Jon K: Yes, I was thinking about the policy after I lost power during hurricane Sandy. . .and had several candles burning. A lot of insurance policies do not allow for candle burning--huge liability, and after having to repaint a place after soot and wax stained the wall (and the carpet) and several burns in the carpet, that kind of hit it home. I haven't had a complaint yet, but I have less than 10 units and am fairly new at this--and my policy is fairly new. I suppose tenants will go ahead and burn them anyway, but they will be charged for repainting and fixing the stains/burned areas of the carpet.

Post: Opinions of no-smoking and no-pets?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

My mother in law is the cleanest person Iever met and her house is spotless, however she does smoke in her bathroom (and ours when she comes to visit). You are correct that she is ashamed and doesn't want anyone to know she smokes--especially not her grandkids. Don't ask me how she gets rid of the smell, though. You hardly ever can smell the smoke oddly enough.

Post: Opinions of no-smoking and no-pets?

Tamara R.Posted
  • Investor
  • Vienna, VA
  • Posts 158
  • Votes 45

I don't allow smoking inside or outside the property at all. I state this clearly in my ad and on the lease, nor do I allow the burning of candles or incense--also mentioned in the lease. Fireplaces are closed off and off limits as well. I state in the lease that damage from smoking can cost thousands of dollars (replacement of flooring, curtains, blinds, re-painting etc.) and that they are on the hook for paying for it if they lie about their habits and smoke inside. Even outside smokers will smoke inside when it gets cold--that's guaranteed.

As for pets, I do allow them. Will allow de-clawed, spayed/neutered, FEMALE indoor cats (males tend to spray urine all over the house) and dogs on a case by case basis. I don't allow certain breeds of dogs forbidden by insurance (pits, rottys, german shepards, etc) and any dog that displays aggressive tendancies--also absolutely no new dogs or puppies as they chew and are not trained to releive themselves outside. Am more likely to allow animals if one of the people on the lease stays home and is there to care for the animal during the day and it they seem to be responsible people. I also collect a $500 deposit for each pet (refundable if there is not damage) and $25-$40 (large dogs) per per additional rent. I state specifically in the lease that the additional rent does not go towards damage caused by pets. Some prefer a non-refundable pet registration fee, but I think having a deposit that they might get back encourages them to be more vigilant about taking care of the property. I state specifically that any animal waste remaining after vacancy will cost them $5 per pile if I have to clean it up.