All Forum Posts by: Tyler Ansell

On our co-signers if they have credit above 620 we just do that. Credit less than 620 we require income verification to show 3x rent. Just criminal and rental history on tenant. We have a decent handful of graduate level or otherwise older students that can sometimes qualify on their own without cosigner and we'll just take a 1 month deposit.

We rent to many internationals including lots from Asian countries. Be aware there's a good chance they'll up and leave when school gets out over summer. You'll have no way to get them for the abandoned rent either so be wary. Also, someone mentioned smoking...they smoke alot with zero regard for your property. Also their choice method of cooking is rather oily so be stay on top of it with regular pest control and add in some extra bucks for cleanup when they leave.

The company I work for is developing a huge deal in College Park called Terrapin Row, let me know if you want any info on it.

I spent some time in Boulder at the 2 student deals there during a transition of ownership. BPM owns half the town it seems, but yeah there was some talk back then about occupancy laws getting changed. Welcome!

I'd clarify some of the duties for sure. Is doing the financials generating detailed reports and a bunch of calculations or is it paying invoices for lawncare and the water bill? How often are subs on the site, 3 days a week or 3 times a month? And yes, I'd figure out if you can bill extra for those issues. 

I'd ask some more questions about what they want. 

Are you trying to buy this from him? If so what's he charging you or what would your payment be if financed? 

We make 1 tenant put them in their name and collect from the other roommates on my sites. 

What we do offer is to be mediator, if you can get them all to sit down together (sometimes at the unit is easiest) then it's really not hard to get a payment from the tenant that is causing an issue. However, if the tenant isn't wanting to pay utilities I'd bet there are other issues in the unit either with rent or upkeep etc 

Only makes me wonder how much more effective a professionally printed sign would be.

I've noticed alot of bandit signs popping up around town with handwritten messages scribbled like "Houses for cash" "I buy houses" "Sell your house fast"...do these actually generate leads? They look so terrible.

Like @Mike Woodsaid, 1 year leases are a must. Most students don't take summer courses so unless you want that vacancy you've gotta sign a 12 month lease. Most students in my experience understand that. 

@Stephen E.brings up some very valid points but I disagree with the conclusion. Yes it takes more time and potentially repair costs but the rent is so much higher if you lease per person, or per space.