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20 November 2011 | 12 replies
Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.
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11 December 2011 | 7 replies
I spent my summers painting and cleaning apartments - we lived in a college town, so there was alot of turnover in the summer months.
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6 February 2012 | 11 replies
Most units remodeled but the complex needs to be painted, landscaped, etc.
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3 May 2014 | 80 replies
Any insight, advice, or tips would be greatly appreciated.Thank you,
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10 January 2012 | 7 replies
Is there any way you might be able to tip me off to a couple of markets and states where that may be attainable?
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11 October 2013 | 17 replies
I would like to keep from having to pay a locksmith to come out and if I can find the keys, or use a bump key to get in cheap, it will be much less hassle for me.Thanks for the tips.
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16 December 2011 | 10 replies
I would have 1 year leases but was trying to say when one moved out, I would go down there to clean up, paint, etc. and use it to stay there while I get it rent ready again.
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18 December 2011 | 7 replies
If you consider it you should require they pay 4 months in advance.This will cover them paying the first months rent,time to immediately evict them if they violate a provision in the lease,and cover paint and carpet again.If they violate the lease for any reason all the money paid upfront is NON-REFUNDABLE.Don't just stick a tenant in there to put one in.Make them meet extra security demands or wait on a better tenant to come along.You have to make a tenant like that have a bunch of "skin" in the game.They may or may not have reformed themselves and if they have they should not mind putting extra down.
30 December 2011 | 10 replies
When it's time to sell, would it show ok leaving as is in brown or would it show better to paint white?