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15 November 2024 | 16 replies
I was worried about it, but so far no damage or stains and we allow dogs.
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22 November 2024 | 20 replies
Place good residents, make sure the block is nice (just not the street) and you should be fine.
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18 November 2024 | 9 replies
Unfortunately, Detroit is complex due to things being driven block by block.
18 November 2024 | 1 reply
Make sure you’re checking in on your tenants, getting them to document any damage, and having solid insurance coverage.
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22 November 2024 | 15 replies
I think guests hardly ever damage things intentionally, but when you have luggage coming in and out all the time and little kids running around a "new place," there IS a lot more wear-and-tear, scuffs/dents/scrapes, and broken glass.
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22 November 2024 | 9 replies
I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.
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1 December 2024 | 91 replies
I have talked to OOS investors that lost big doing single family turnkey rentals in recent years because the "great tenant" that came with the house moved out mid lease and did $30k of damage on exit.What I believe you are really going after is: don't be dumb money.
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19 November 2024 | 7 replies
The last tenants did some damage to the interior of the house and repairs like, sheet rock, fixtures, paint, etc. need to be completed.
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18 November 2024 | 7 replies
When they finally move out, you'll discover a ton of unreported maintenance and possibly damage caused by failure to maintain.Landlords should encourage tenants to report maintenance issues.
21 November 2024 | 24 replies
Also a lot of side by side duplexes that are locally called "double blocks".