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11 January 2025 | 7 replies
You are allowed to charge for ALL damages beyond ordinary wear-and-tear.
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20 January 2025 | 22 replies
@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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19 January 2025 | 61 replies
So, if the tenant doesn't pay, skips out after damaging the property, and it stays vacant for two months it's OK because you don't owe anything on it.
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14 January 2025 | 9 replies
Unless the medical condition meets the state criteria for early termination and that the medical notice does not appear to suggest that, you cannot terminate the lease outright/immediately but that you will begin to market the property for rental and upon securing an acceptable tenant, the lease can be terminated pending a satisfactory property walkthrough indicating no damages.
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26 January 2025 | 17 replies
This allowed us to maximize revenue and occupancy more effectively.Safely Insurance: We also decided to use Safely Insurance, which provides comprehensive coverage for guest damages, liability, and protection beyond what Airbnb or Vrbo offer.
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15 January 2025 | 3 replies
On the other hand, tenants tend to cause damages when moving these appliances in/out, so having them in place may be safer.I recommend you look at what others are doing in your community and price point.
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15 January 2025 | 3 replies
I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.
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14 January 2025 | 2 replies
I would only ever consider this if the ceilings are already falling down or damaged. 2.
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9 January 2025 | 8 replies
Assuming your property is in Utah (like your profile indicates), here's the state law from a basic internet search:In Utah, a tenant who abandons a rental property without notice is liable for the lesser of the following: The rent remaining on the leaseThe rent plus the difference between the fair rental value and the agreed-upon rentThe cost to restore the property to its original conditionThe landlord can also remove the tenant's belongings and sell them if the tenant doesn't claim them within a reasonable time.
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19 February 2025 | 32 replies
@Byoung Bae would NOT recommend an inexperienced investor try to DIY manage OOS anything other than a Class A rental.The odds are against you and you will statistically lose a LOT of money.Read below for some friendly advice:-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?