The Landlord Thread

[resolution]

The one I stayed at in Hawaii, the owner had a house cut up into 4 apartments, and he had a cleaning service to come in and take care of everything in between customers. He was just there to welcome people and give them a tour of the home, and popped in every few days to see how things were going.

[Bonny]

Dec 4, 2015 20:33:00 GMT -5 resolution said:

The one I stayed at in Hawaii, the owner had a house cut up into 4 apartments, and he had a cleaning service to come in and take care of everything in between customers. He was just there to welcome people and give them a tour of the home, and popped in every few days to see how things were going.

Yeah, if we were to run our own vacation rental outsourcing the housekeeping would be my intent. I did have my own house cleaning business as a teenager and young adult for my parents' rentals, clients, and some outside clients so I'm not too good to do that kind of work and would (and have) done it for my own rentals in a pinch. But highest and best use of my time would be the client interface (e.g. reservations, client contact) and supervising the cleaning work. Around here, clean up is a separate fee in addition to the rental fee. As a LL you can't charge a tenant for your time so outsourcing can make a lot more sense even if it is more expensive.

debthaven said:

As they say in French, chacun sa merde

lol, that's a real spin on "chacun a son gout.

[resolution]

Dec 4, 2015 20:58:53 GMT -5 Bonny said:

debthaven said:

As they say in French, chacun sa merde

lol, that's a real spin on "chacun a son gout.

Now I know I have drunk too much because I can't stop laughing at that.

[Bonny]

And to change the subject a bit; how many of you LLs saw the film clip of the media going through the San Bernadino's terrorist home and cringed?

There's a lawsuit waiting to happen.

Assuming they paid their December rent, that apartment should have been turned over to the next of kin to empty out.

Along with the victims, I feel so sorry for that 6 month old girl they left behind.

[zibazinski]

Hopefully she will be adopted into a decent family and given a chance to be educated and civilized

[debthaven]

We received a convocation for a HOA meeting for our rental, with the new building management, on 7 Jan. So things really are moving forward! In theory everything should be legal on 7 Jan. They already have estimates for the building renovation and plan to do it this spring.

In other news, DS2 and DH went to see DS1's new apt yesterday. (Unfortunately I was working.) Although DS2 likes the area, he said the apt is a wreck and he isn't interested in living there. He may change his mind once the apt is renovated, and if not it doesn't matter. But I thought it was sort of funny, because he absolutely couldn't imagine it done up. 

[bobosensei]

How do y'all list your rentals?  I've looked on remax.com and zillow.  I also checked craigslist, but the rentals there were all so much cheaper that I assumed many could be scams.  Where else should I look.  For those of you that work with a property management company, how can I find a reputable one?  Some of the listings I've seen I have gone to the property management website, but I'm finding a lot of really negative stuff about those companies online.  Of course, since I've done property management before, I could see where some of the complaints could be unfounded.  Afterall, I've been called every name in the book when charging people for damages at move out.  So I am not sure if there is a way to tell the good property management companies from the bad.

[Bonny]

Dec 8, 2015 10:39:19 GMT -5 bobosensei said:

How do y'all list your rentals?  I've looked on remax.com and zillow.  I also checked craigslist, but the rentals there were all so much cheaper that I assumed many could be scams.  Where else should I look.  For those of you that work with a property management company, how can I find a reputable one?  Some of the listings I've seen I have gone to the property management website, but I'm finding a lot of really negative stuff about those companies online.  Of course, since I've done property management before, I could see where some of the complaints could be unfounded.  Afterall, I've been called every name in the book when charging people for damages at move out.  So I am not sure if there is a way to tell the good property management companies from the bad.

Craig's List for the two San Diego properties and with a real estate agent (who lists on Realtor.com) for the AZ house. The market for my AZ house tends to be older and higher end and doesn't trust Craig's List.

I've also had sign calls. I'm assuming you're still in Germany? Do you have a friend in the area in which you're looking who could do a quick drive-by in the neighborhood?

[debthaven]

For the PM company, I'd start by asking friends / family or maybe colleagues of your DH's, if that's applicable, of course. 

For our first 2 rentals, we went with the agency that sold them to us and it was a mom-and-pop, incompetent agency. But we didn't realise for years because we had nothing to compare it to. 

For the next one, the apt was already rented and the seller recommended her PM highly (her family owns several apts in the residence and they all use the same one). We are very happy with them.

For the last one, we tried to find a recommendation for a local PM but couldn't. After trying to find somebody recommended for weeks, I ended up going to the closest agency by default (literally 10 doors down from our rental). We "chatted" and DH and I really liked the woman. We took her / the agency on and we are very happy with them. In fact it's their "big sister" agency that is now going to manage the building (the local agency is small, they don't manage buildings). 

I think with your experience you will be able to judge after meeting with them and asking the right questions, since you know which questions to ask. 

We've always sold through agencies too. At this point I should probably feel comfortable enough to sell myself but I don't, I'd rather use a professional. But again, like Bonny, you have more experience than we do. 

[Bonny]

In the spirit of when it rains it pours here's my landlording week:

1. AZ house: Tenant says he wants to buy house but hasn't put together an offer yet. He's trying to hold us to price we set in February. Lease ends on 1/31/16. I sent him the first lease extension request on 11/19/15 and he still hasn't signed. I've given him until tomorrow at 5pm to sign the extension or we'll terminate the lease on 1/31/16 with no month to month. It's time to sh*t or get off the pot!

2. San Diego Condo: Received a certified letter from the condo HOA demanding my tenant pay $97 month in additional electric for his electric car and he needs to install a separate meter all within 30 days. I was really taken aback by the approach. We voluntarily self reported and the whole tone is as if they "discovered" him stealing electricity from the HOA. This is a guy who volunteered for their HOA submetering committee. What a way to treat people.

3. So. CA Cabin: On Wednesday got a notice from the PM managing our cabin that they sold the business to another entity (effective Wednesday!) and from now on we need to deal with the new company. New company sent a bunch of documentation wanting us to sign ASAP. Of course we aren't going to be bullied into signing anything ASAP.

4. San Diego House: When we visited the house the week of Nov we realized that we need to replace the hot water heater and dishwasher. While we weren't happy about dumping more money in a house we intended to sell we thought at least it's not an emergency and we could replace when we are in the area in February. Then the following week we got a call from the tenant. Garage door failed and she couldn't get her car out. Couldn't lift the door even after releasing the emergency release. Turned out the spring failed. That was $350 to replace in addition to the $1000+ we'll have to spend on new dishwasher and hot water heater.

I LOVE being a LL and just sitting back and collecting the checks!

[zibazinski]

Ugh. Hugs

[flutterby]

I'm asking this here, since I figure you all will know about this kind of thing.

I rent a condo. Bottom floor. Last Thursday morning, I noticed a wet area on my bedroom carpet. I hadn't spilled anything and nothing dripping from the ceiling, so I figured it was a broken pipe or something under the floor. Called and left a message with the landlady. She got back to me that evening and sent a handyman over. He also figured broken pipe, but didn't know where to get into the crawl space to check. So a guy from the HOA came over and found it then left. Handyman comes back later that evening, and crawls down there. Yep, something's leaking. Since it's under the condo, it's the HOA's problem.

The wet area is now at least 5x5 feet. And I mean WET, not damp. Like you step on it and it squishes. And now another spot has popped up between the living room and kitchen. I've left two more messages for the landlady, but haven't heard back.

So I'm not sure what to do here. I want this fixed now. I do NOT want them fixing the leak but then leaving the carpet and padding that's gotten wet.

Do I just need to wait until they get around to fixing this? Is there some sort of timeline? Any ideas or opinions would be appreciated.

[Bonny]

A burst pipe that's causing that kind of fast interior puddling would be considered an emergency because of the potential of additional and expensive damage. You want to call/e-mail both the HOA PM as well as the LL ASAP

HOA needs to get a plumber out ASAP and will have someone on call. HOA and owner can always fight about who is responsible. The HOA will also need to get out emergency restoration folks to start drying out the unit. That carpet, pad, possibly subfloor need professional dryers to minimize mold.

Sorry this is happening around Christmas. That really sucks!

[lund]

Does the HOA have an urgent contact phone number?

I think that if I were you, I would get some bricks to put under the feet of the furniture and start packing stuff to put in storage and the safety deposit box.
When it is that wet, it may require drying equipment and workmen.

[Bonny]

Why landlording is so much fun...

AZ house update:

Tenant and his girlfriend are breaking up. She supposedly is leaving but refuses to sign anything to that effect, he wants to stay.

He still wants to try to buy the place but doesn't have the down payment. Thinks of some of his friends want to invest with him.

I have given them multiple deadlines in which to get their stuff together (he's 60 she's 55) and they have failed. I started over a month ago.

I get to be the meanie who sends out the Notice of Termination two days before Christmas.  (Their lease is up 1/31/16).

I'm really looking forward to standing in line at the Post Office today to send the certified letter.

[flutterby]

I still hadn't heard from the landlady, so called her and left another message today. She just go back to me. Apparently, they've fixed the leak. So I asked what they were going to do about the huge puddle that's my bedroom floor. She said oh they said it would dry out. Yeah, maybe come summer. So I blew up a bit. Said I have company coming ( I don't) and can't have people needing galoshes inside. And what about mold?! Anyway, she said she'd call the HOA about getting dryers in. She didn't sound too worked up or enthusiastic. Maybe that's the best I can hope for? 

[Peace77]

Does the HOA have a shop vac?   Could you borrow one?

I would threaten to place my HOA dues in escrow unless they get a restoration company out by noon tomorrow.

[debthaven]

So, the meeting for the new HOA / building management is still scheduled for tomorrow! From what I hear, everybody should be there but the one tenant who sued them (and lost). So, the VAST majority. 

Here's to hoping that rental finally gets building management (because we can't legally sell the place without one, although apparently this woman did, but she sold VERY low, she just wants out since they are in their 70s and they live 1000 miles away, and they've owned those apartments for decades.) 

As much as I'd love to sell it, there's no point in selling when it's rented, especially since the renter is paying slightly less than market value rent. (We had to decrease the rent because of all the issues with the building.)

Here's to hoping tomorrow evening's meeting goes well! 

[debthaven]

Just reread the past posts, I'm sorry, I've been so overwhelmed because of my close friend's death (i.e. helping to take care of his wife, one of my bestest friends for nearly 30 years).

What happened Flutterby? Did they come through for you? I hope so! 

Bonny, seriously, please just sell ONE place. We are all getting older and it's too much to deal with. On your own timeline of course. But I'd be looking to sell one place in 2016. You've been talking about it for years, just do it. 

As we all move into our 60s, do you REALLY need all that rental RE (as well as your MIL's place, and your MIL, and your Dad) to deal with?! REALLY, I'd part with ONE place, have more money and time to deal with the others, less stress, and go on more vacations. I'm serious.

Hugs to you. 

[Bonny]

Jan 6, 2016 20:39:00 GMT -5 debthaven said:

Just reread the past posts, I'm sorry, I've been so overwhelmed because of my close friend's death (i.e. helping to take care of his wife, one of my bestest friends for nearly 30 years).

What happened Flutterby? Did they come through for you? I hope so! 

Bonny, seriously, please just sell ONE place. We are all getting older and it's too much to deal with. On your own timeline of course. But I'd be looking to sell one place in 2016. You've been talking about it for years, just do it. 

As we all move into our 60s, do you REALLY need all that rental RE (as well as your MIL's place, and your MIL, and your Dad) to deal with?! REALLY, I'd part with ONE place, have more money and time to deal with the others, less stress, and go on more vacations. I'm serious.

Hugs to you. 

Pot calling kettle black ==============>

After several rounds we finally signed a new PM agreement with new vacation rental operator. Property has already been booked twice in January and for Valentine's/President's Day Weekend. Glad I pre-booked all of our stuff already!

Signed new lease with AZ tenant last week. Will be headed to AZ for my ortho re-do the end of February and will swing by the house to ensure that tenant's girlfriend is out. I'm glad he's staying. So far he's been a good tenant (although it's an awfully big house for one person) and I'm glad I don't have three properties to "turn" in 2016.

We're headed to the cabin the end of this month to go over opening and closing instructions with the local operator and we'll make a side trip to the N. San Diego County property to get measurements for the new hot water heater and dishwasher. Today I got an e-mail from the tenant saying the garage door doesn't work. This is after putting in new springs in November. It never ends!

ETA: And the HOA and the tenant agreed to a $93/mth surcharge. He told them that his lease was up 6/30 and wasn't sure they would be staying. After hearing that from the HOA PM I contacted him and had to tell him the bad news that his rent would be going up by $300/mth (about an 8% increase) due to the $230 HOA increase + my mortgage increasing. He said they really like the area but would need to move. I'm sorry to lose them as they've been great tenants but even at $3,600 (my carrying costs BEFORE repairs) that's still 90% of the market rent. I'm just surprised that they are still planning on renting. They both have good stable jobs and should be buying. Rents aren't going to get any cheaper in San Diego.

[debthaven]

Nah Bonny ... we want to sell a place as soon as the time is right. 

But glad things are going well for you (apart from the garage door). 

[Bonny]

Jan 14, 2016 16:38:24 GMT -5 debthaven said:

Nah Bonny ... we want to sell a place as soon as the time is right. 

But glad things are going well for you (apart from the garage door). 

LOL, with the 1,000 pt drop in the US stock market sooner maybe better than later. Unless of course you want to hold the property another 10 years through the next cycle.

[debthaven]

No, not that, but we will sell this studio after the building is reno'd and the tenant leaves, or one of the viagers if the man doesn't live forever. 

So not tomorrow, but not planning to hold on for 10 more years either. 

[Knee Deep in Water Chloe]

I've a twist on my house. The tenant, who has been there six years this Memorial Day weekend, paid his rent late this month. I received the check today. I texted him on the tenth asking where it was. He said he'd sent the payment from him bank bill pay service on the ninth. (Rent is due on the first; it's officially late after 12 midnight on the eighth.) The check is dated via the computer the 11th and it is post-marked on the 16th. There was no late fee with the payment.  I was debating whether or not to send him a letter for the late fee; DH didn't really want me to. He's afraid the guy will stop paying and we'll be SOL since the MFH is causing us so many problems right now. 

Then, this morning, the ex-wife emailed me. She had moved in originally with him; she moved out 18 months ago. She wanted me to know that the tenant/her XH had been arrested for domestic violence and had been released on $3,000 bail. She was the victim, and she wanted me to know what kind of person I had living in my house. I have not responded to her email. 

I'm not sure the two issues are tied together. I'm not sure the arrest is my business. I am sure I don't want another challenge to deal with right now. 

Thoughts?

[zibazinski]

If he's paid his rent on time before all this and this is the first time late, let it go. For his wife to be so vindictive worries me that she might try to damage the house trying to get at or even with him. I'm assuming she's no longer living there.

[zibazinski]

Ex wife. Missed that one. Too bad you can't find out more about what really happened but your husband is right. One problem at a time.

[Bonny]

For a long term tenant I make a one-time exception but I write them an e-mail that's it's a one-time exception and that the next time there will be a late charge.

I'd take the wife's comment to heart. I think you've been given a heads up that you've got a tenant that's a likely problem tenant and plan accordingly.

When is your tenant's lease up? How far under market is your rent? When was the last time you did a property inspection of the interior of the unit?

I think there's a potential upside to the situation even though times are seemingly bleak. With this problem potentially looming your husband is less likely to mess around trying to squeeze the most out of the sale of the MFH. And you've been looking for a way to reign in his spending and put more into savings. You've been handed an opportunity on a silver platter.

[Bonny]

Jan 20, 2016 21:22:25 GMT -5 Knee Deep in Water Chloe said:

I've a twist on my house. The tenant, who has been there six years this Memorial Day weekend, paid his rent late this month. I received the check today. I texted him on the tenth asking where it was. He said he'd sent the payment from him bank bill pay service on the ninth. (Rent is due on the first; it's officially late after 12 midnight on the eighth.) The check is dated via the computer the 11th and it is post-marked on the 16th. There was no late fee with the payment.  I was debating whether or not to send him a letter for the late fee; DH didn't really want me to. He's afraid the guy will stop paying and we'll be SOL since the MFH is causing us so many problems right now. 

Then, this morning, the ex-wife emailed me. She had moved in originally with him; she moved out 18 months ago. She wanted me to know that the tenant/her XH had been arrested for domestic violence and had been released on $3,000 bail. She was the victim, and she wanted me to know what kind of person I had living in my house. I have not responded to her email. 

I'm not sure the two issues are tied together. I'm not sure the arrest is my business. I am sure I don't want another challenge to deal with right now. 

Thoughts?

Did you get the February rent?

[Knee Deep in Water Chloe]

I did. I ended up emailing him on January 25 with a "please check the procedures for mailing a check to me directly from your bank" type of email. He begged forgiveness. On Feb 3, he texted with "it still won't be delivered until the 10th if I send it today." Yeah, that's why I told you a week ago. He asked to be able to deposit it directly into the bank account. I had rescinded that option last August when I didn't want to accept money from the GF and Nephew. That account is still blocked from outside depositors, but DH and I decided to grant him depositor access to another bank's checking account. He deposited it on the third. 

I have not responded to the XW, and I have not brought up the arrest with the husband. 

[zibazinski]

One hassle at a time.