All Forum Posts by: Troy P.

Quote from @Theresa Harris:

For the washing machine, if she didn't ask to be reimbursed, just leave it.  for the dishwasher, if running it doesn't clean it up, you can only charge her for cleaning (or if it is broken, repairs or replacement cost).  Replacement cost on a 20 year old dishwasher won't be much.  You have to charge her what was left of the lifespan.  Eg (making up numbers) if a fridge lasts for 15 years, and they break a 10 year old fridge to the point it can't be repaired, you can only charge them 1/3 of the price of a new one as it had 5 years left.

For the keys, if the ones she gave you don't work for the new locks, then charge her for a locksmith who will come by and re-key all of them.  If the keys she gave you work, then don't worry about it especially if they were changed to keep a hostile ex out.

 I would still need to change the locks and re-key since I want all locks to be the same key.  That is how it was given and that is how I want it.  Should there not be a cost involved with that?

I provided washer and dryer, and upon move out, realized the washing machine was completely different.  She said mine broke and someone suggested replacing it, so she did, with another used one.  Should this be taken from the deposit, and how?  It was filthy and had to be cleaned before I was comfortable even turning it on.

She also replaced some, not all, of the external locks and never gave me a key.  At move out, she gave me 6 keys so the questions were asked.  She changed them due to a hostile ex, which was an obvious violation of the lease.  I had Kwikset with 1 key to open all locks.  Now I have 3 different keys...

The dishwasher was about 15 years old and working fine when she moved in.  It was broken and filthy when she moved out.  I replaced it, but how do you put a price on repairs?  How do you know how much to deduct for these estimated expenses that you may do yourself or you end up tossing and replacing?  Thanks!

I've done a lot of research on this topic.  Like you see now, eliminating pets also eliminates a large chuck of prospective tenants.  I settled on allowing dogs and cats under 25 pounds and no aggressive breeds.  I did have one tenant ask what is an aggressive breed, and I had to google a comprehensive list because I didn't have it readily available.  There are known "aggressive breeds" that constitute a combination of size, temperament, etc. to form this list of aggressive breeds which would theoretically be more of a liability.

I also settled on a pet deposit, not a pet fee or pet rent.  A deposit gives them an incentive to take care of the unit and potentially have the deposit returned to them.  Make sure the tenants understand this.  A pet fee or rent may give someone the impression that "they already paid for the damage" so they're unwilling to prevent it.  This is my limited experience, and it's worked out well so far.

My vote is for Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes.

Quote from @Alice Goodson:

My VOTE, proceed with caution. Do not rush to failure.

Good Luck

Alice -

I agree. This whole situation screams sketchy. It's your property. If your goal is LTR with no other strings attached, that is what you should do. If you've done the research for the area and found STR/MTR is a lucrative strategy, it may be something to pursue. Regardless, I suggest not changing your strategy for a single tenant. There are many others out there who would love to rent your empty unit.

Also, I agree with others, install a washer/dryer if it's standard for the area.  I've only been asked once if I could remove them so the prospective tenant wouldn't have to store them.  "Sorry, no I can't."

Yes, I think you're in a better spot since no money has been exchanged and hopefully that invalidates the lease.  If you send snail mail, be sure to send certified so you have proof it arrived in human hands.
Personally, it's baffling how so many people have poor communication skills when we have so many opportunities to communicate in today's world.  I have a current tenant who, at the time of showing, loved the place and was going to apply for it ASAP.  I was thrilled because she was actually the most qualified and desirable out of everyone I met.  A few days went by and I heard nothing.  I was getting ready to offer it to someone else when she finally responded with something like "oh yea, I still want it!  I was just about to take care of that."  When you need a place to live ASAP, I would think this would be the first thing on your mind.  But maybe that's just me...
In your case, it sounds like they have buyer's remorse and are ashamed to tell you after signing, but also don't be surprised if they show up on the 31st.  They could still be shopping around thinking they can just change their mind if they find something better while leaving you completely in the dark.  Who knows??
It would be worth a consult with a local attorney.  The last thing I'd want is two tenants claiming rights over a property.

This is great news for those of us that have watched LFI grow and always leaving us wanting more.  

I would have a window unit on standby and install it for them in a central area of the home.  It's mostly out of your control, but at least make 1 room comfortable.

I acquired a townhouse in 2022 on a small street of about 40 other homes. I was initially told there was an HOA but eventually found out it's not active and there's a lady who lives somewhere on the street that pays a lawn company to cut and trim everyone's yard. I don't know who this lady is and I don't know how to pay her, even if I wanted to. I'm one of the few that has a fence and enclosed backyard, and they have been cutting my entire yard for 2 years now. I have no idea who they are and have not paid anyone a dime. My question is, would you just let this ride or does it make more sense to attempt to catch them while they're working and ask them to stop?

I know there are risks: breaking my window, breaking a tenant's car window, tripping over a cypress knee and cutting off their own foot, etc.  Since I didn't hire them, I'm thinking I'm not legally responsible, is this generally accurate?  I'm not sure the best course of action here... 

Quote from @Matthew Paul:

Quote from @Nicholas L.:

so... thoughts?  should regulations target the big institutional buyers? 

 Arent big institutional buyers companies on the stock market , which are owned by stockholders , who could be you or me ?

It could be a mix of both.  I honestly haven't read the details of the proposals, but this could possibly target both private and publicly traded institutions (e.g. REITs).