All Forum Posts by: Terri David

I am currently a SF investor; however, been hearing for years about the advantages of MF/apartments. I think I may finally understand why - based on my experience. Kinesthetic learner, hands-on experience teaches me, sometimes the hard way. Please correct me if I am wrong as I am about to jump ship to MF.

1) My SF properties often are empty at the same time - summer - because everyone is moving after the school year. Expensive. MF/apartments have vacancies throughout the year - more manageable.

2) SF properties are more likely to have kiddos, teenagers in particular, that are hard on houses. MF/apartments are smaller and tend to have smaller gatherings and less kiddos, easier on property.

3) I have to pay a realtor a month's rent to place a new tenant in a SF. Expensive. I would not have to do that in a MF/apartments because I would have an on-site manager. However, is on-site management more expensive than paying a realtor one month's rent and vacancy loss for about two months, per year?

3) The make-ready on a 1600 sq.ft middle class SF is much more expensive than a 1000 sq.ft apartment. Obvious. However, the profit I am making on SF ($300-$550 a month) could be made on each door of a MF/apartment complex. More profitable.

4) I chose middle-class SF homes, great area, great tenants - right? Well, there have been a few exceptional tenants; however, the middle class tenants will leave a house in a big mess too, which is more expensive to repair - and more frustrating. Tenant quality in middle class SF homes has NOT been the significant difference that I expected. I hired  a property manager thinking they could do a better job finding tenants - nope. Might as well do MF/apartments and clean up the mess that is less expensive.

Ok - where am I wrong? What am I missing? Where am I right? Thanks!

@Kyle J. Thank you - I will definitely look into the companies you mentioned. I doubt I will get anything; however, if I can forewarn other landlords, it is worth the effort!

Thanks @Cody L. and @Tom S. for responding. I appreciate you sharing your different experiences. Gives me some things to consider.

Thanks JD! I like the insurance option; their $3000 deposit does not cover the damage and make-ready - about $5000 more than deposit (ouch). I will consider the collections agency option as well for this situation and moving forward.

Hi there - what do you all do when a tenant's deposit does not cover the damage? Can you file in small claims court and is it worth it (property in Houston metro area)? Can you report this against their credit as an individual (property management does not do this for me)? Thanks!

Perfect floor plan with two bedrooms, full bath and gameroom upstairs with attached guest suite downstairs. 5th bedroom has built-ins that can be office or bedroom. Corner lot with nice yard, nice neighbors, nice elementary school and nice neighboorhood park a block away. Pool with spa is nice during summer and winter. Meyerland home that has Never Flooded! We had additional drainage installed to manage hard rains. We moved abroad so need to sell - rented for one year but ready to move forward with other properties. Thanks!