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All Forum Posts by: Tyson Luthy

Tyson Luthy has started 1 posts and replied 147 times.

Post: House Paintings gone. Can I charge the deposit?

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

They should have been removed before the property was ever rented. They're gone now, time to move on....

Make sure any items you want are removed. It is unrealistic to track and hold tenants accountable for items like that.

Post: Flooring for rental??? Help

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

I always put laminate, or vinyl planking in the high traffic areas (living room, hallways, kitchen, dining) and I'll use carpet in the bedrooms and basement.

Pay attention to what your market is like. I'd love to stay away from carpet entirely, but if I don't put carpet at least in the basement, it won't rent NEARLY as easily...

Post: This is what happens if you don't change furnace air filters

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

We always change the filters when we do a scheduled property inspection. We manage over 1300 properties and I can think of maybe 3 tenants who change their filters.

Truth is, people who rent never learn how to take care of a home.

Homeowners learn how out of necessity.

Post: Look What I Found About an Applicant!

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

You could always Facebook them too. You can learn a lot about what a person is like by seeing what kind of things they post!

Post: Pet policy

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

Why debate deposit vs. extra monthly rent? Get both! We charge a $300 pet deposit, and collect and extra $25 mo.

We have found that good clean people who have good clean pets will pay for them.

Post: Duplex

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

The other comments suggesting a background check is good advice. I'd leave the tenant on a month-to-month basis and not renew the lease for a bit until you know him better. If he causes problems, end his tenancy. If he is good, then sign a renewal.

Post: First rental property under contract

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

Congratulations on your new property!

We have forms that we use for all of this:

  • Move-in lease signing and house rules
  • How to pay rent
  • Move out packet
  • Etc.

Everything is documented and enforceable.

I know that there are a lot of good forms on Bigger Pockets, and we have made a lot of these forms available on our website too.

Feel free to PM me if you have any questions, and good luck!

Post: What type with $50k per year?

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

Buy whatever the deals are. Don't limit yourself, be open to anything that makes sense. You don't have to know everything now, just find a good deal (whatever it is) and buy it. Just get started and you'll learn what you like more as you go along.

Sounds like your in a great position to make big things happen!

Go for it!

Post: Recap of our first week owning a 4 plex

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83

Contrary to popular opinion, the landlording business can be pretty smooth sailing.

Screen, screen, screen, and get good tenants!

Put systems in place and document everything. Get a strong lease and stick to it. Make sure it's realistic and enforceable.

Outsource the stuff you don't want to do, and focus on growth.

You'll be fine!

Post: Biggest cost in rental properties.

Tyson LuthyPosted
  • Property Manager
  • Idaho Falls, ID
  • Posts 147
  • Votes 83
Originally posted by @Ali Boone:

1. VACANCY

2. BAD TENANTS

3. Repairs (which fluctuate, depending on the condition of the property, and the tenants)

Yes exactly! (bad tenants being caused by poor screening)