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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Anybody a landlord?
or a long distance landlord?
I have some ?? for you!
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Posted 9/15/07 9:08 AM  |
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Prudential Douglas Elliman Real Estate
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LisaI
Momma's Little Beans
Member since 1/06 3923 total posts
Name:
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Re: Anybody a landlord?
we own properties and just leased one of the properties. you can FM me anytime if I can help in some way?
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| Posted 9/15/07 9:34 AM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Anybody a landlord?
Posted by Blu-ize
or a long distance landlord?
I have some ?? for you!
yep, and sometimes it sux. What do you need to know?
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| Posted 9/15/07 9:53 AM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Anybody a landlord?
I used to. What do you need help with?
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| Posted 9/15/07 11:01 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Anybody a landlord?
Posted by MrsT
Posted by Blu-ize
or a long distance landlord?
I have some ?? for you!
yep, and sometimes it sux. What do you need to know?
First, why it sux? What am I in for?
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| Posted 9/15/07 12:16 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Anybody a landlord?
Posted by Blu-ize
Posted by MrsT
Posted by Blu-ize
or a long distance landlord?
I have some ?? for you!
yep, and sometimes it sux. What do you need to know?
First, why it sux? What am I in for?
Being an OOS landlord can be a PITA.
If you get the right tenants, it's GREAT!! But dealing with the WRONG ones is a PITA. We evicted tenants within 4 months of them moving in --failure to pay rent. DH was gun ho to rent to them (pregnant mom with 2 kids and her husband) but I was not comfortable with them from the start. They moved in EARLY w/o our permission. Her mom lived downstairs and gave them access to the upper level unit in the duplex. Granted, the daughter admitted that she lied to her mom but still!! That was a PITA to drive back and forth to court.
We have pretty good tenants in all of our rentals except this one couple who is oblivious to everything around them. They never respond to calls - not ever. They are sort of spacey....but they do pay their rent (on time for the most part) and they do not balk at the late fees which were $700 one month in addition to the rent.
Message edited 9/15/2007 12:20:53 PM.
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| Posted 9/15/07 12:19 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Anybody a landlord?
wow..
we have a single guy moving in at the end of the month. He works for Verizon. His credit and employment and background checked out through a property management company that we are paying. The maintenance staff at the complex knows my dad very well and has agreed to fix things as they break and let us know about it. The tenant will have access to the HOA if there is a problem with anything.
He got transferred from New Mexico. I'm nervous about the rent. I want him to set up an electronic transfer to pay us rent so I don't get a bum check. Now everything checks out but I know people can be flakey.
Should I ask to see the credit report or should I trust the management company?
He may also be interested in buying the condo once he gets a feel for the area.
It sounds ok to me but I don't want to get screwed.
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| Posted 9/15/07 12:26 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Anybody a landlord?
Posted by Blu-ize
wow..
we have a single guy moving in at the end of the month. He works for Verizon. His credit and employment and background checked out through a property management company that we are paying. The maintenance staff at the complex knows my dad very well and has agreed to fix things as they break and let us know about it. The tenant will have access to the HOA if there is a problem with anything.
He got transferred from New Mexico. I'm nervous about the rent. I want him to set up an electronic transfer to pay us rent so I don't get a bum check. Now everything checks out but I know people can be flakey.
Should I ask to see the credit report or should I trust the management company?
He may also be interested in buying the condo once he gets a feel for the area.
It sounds ok to me but I don't want to get screwed.
Oh - that is TOTALLY different. Let the management company handle it. That is why you pay them. And if something needs repair then the management company should have enough vendors in their rolodex to get it fixed ASAP.
I thought you were doing this on your own.
My dad uses a property manager (even though the rental is down the street from my dad) and it works out well. Dad pays them 10% of the monthly rent plus an administrative of like $20 a month). They screen the tenants, do credit checks, and go to court if necessary. Once they collect the rent they send an electronic transfer within the first 7 - 10 days of the month once the tenants check/money order clears. They also take care of repairs and take those funds out of the rent. I think the cap is $500 before they need to get permission to make a repair. Nothing has been over $100 though as far as I know.
Message edited 9/15/2007 4:07:55 PM.
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| Posted 9/15/07 12:32 PM |
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LisaI
Momma's Little Beans
Member since 1/06 3923 total posts
Name:
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Re: Anybody a landlord?
I agree about letting the management company handle it. We are hiring a management team for our out of state properties as well for the same reasons as above. Good luck again.
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| Posted 9/15/07 3:50 PM |
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Atlast07
2 Girls and 1 Boy!
Member since 7/07 3504 total posts
Name:
D
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Re: Anybody a landlord?
We have a tenant, and all is fine. He pays the rent on the first of the month every month and is great. It is hard though. You have to make sure you find the right person. You don't want some lunatic renting from you.
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| Posted 9/15/07 7:58 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Anybody a landlord?
If you don't have the time to handle the "issues", a management company is best. They take care of business. But it is important to pick a good one and make sure both party understand who handles what.
I did not have one. Choosing a good tenant is key but won't prevent anything from happening. We had a tenant for 2 years. At first, no problems. Then I realized he was smoking in the apartment (and denied it). Could not pay for about 3-4 months (we helped him go through the financial issue so we could get paid). Had to use OUR phone to get phone calls (he had to stop his cell phone.. too expensive!). Finally he moved out without telling us. Left all his stuff in the apartment (yes, even his dirty dishes from his last meal, his bed, sheets, clothes, 5 computer monitors, disgusting microwave.. the whole apartment was full!!). He just took some clothes and his TV. We thought something had happened to him when we did not hear from him for 3 days. DH called his former boss who told us he moved to Atlanta and was supposed to tell us... I guess he forgot!!!!
We did not rent since.
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| Posted 9/15/07 9:59 PM |
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