Comments on: New Tenants and Another Year of Being a Landlord http://fabulousfinancials.com/2008/09/new-tenants-and-another-year-of-being-a-landlord.html A single mom on a mission to achieve financial freedom Tue, 27 Jul 2010 21:32:37 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Alice http://fabulousfinancials.com/2008/09/new-tenants-and-another-year-of-being-a-landlord.html/comment-page-1#comment-27427 Alice Mon, 08 Sep 2008 20:16:54 +0000 http://fabulousfinancials.com/?p=1338#comment-27427 Congratulations! Having a good (and honest!) review from their last landlord sounds like it's a very good thing, and I think that the quarterly visits will work well. Hey, it's also a chance for them to make sure you know about any maintenance that needs to happen, like drippy faucets, etc., so it's a good thing for them too! I also had a question, though - why do you charge a pet fee? (since it's non-refundable, I don't agree with calling it a deposit). <strong>Feel free to call it what you want. [-SM]</strong> As a pet owner, I've always been fine with steep pet deposits because I know that I'm going to be getting them back, but I've always shied away from anyplace charging pet rent or pet fees, because it didn't make sense to me. I'd love to hear your reasoning for it! <strong>As a pet owner, and a RESPONSIBLE pet owner mind you, pets (particularly cats and dogs) cause damage. Period. [-SM]</strong> Congratulations! Having a good (and honest!) review from their last landlord sounds like it’s a very good thing, and I think that the quarterly visits will work well. Hey, it’s also a chance for them to make sure you know about any maintenance that needs to happen, like drippy faucets, etc., so it’s a good thing for them too! I also had a question, though – why do you charge a pet fee? (since it’s non-refundable, I don’t agree with calling it a deposit). Feel free to call it what you want. [-SM] As a pet owner, I’ve always been fine with steep pet deposits because I know that I’m going to be getting them back, but I’ve always shied away from anyplace charging pet rent or pet fees, because it didn’t make sense to me. I’d love to hear your reasoning for it!

As a pet owner, and a RESPONSIBLE pet owner mind you, pets (particularly cats and dogs) cause damage. Period. [-SM]

]]> By: Moneychick http://fabulousfinancials.com/2008/09/new-tenants-and-another-year-of-being-a-landlord.html/comment-page-1#comment-27425 Moneychick Mon, 08 Sep 2008 19:35:47 +0000 http://fabulousfinancials.com/?p=1338#comment-27425 Good luck with the new tenants! Sounds like everything should go smoothly hopefully! Good luck with the new tenants! Sounds like everything should go smoothly hopefully!

]]> By: Carrie http://fabulousfinancials.com/2008/09/new-tenants-and-another-year-of-being-a-landlord.html/comment-page-1#comment-27424 Carrie Mon, 08 Sep 2008 19:31:23 +0000 http://fabulousfinancials.com/?p=1338#comment-27424 If the "pet deposit" is non-refundable, how is that a deposit? Seems like it is a cleaning/repair charge in advance of knowing if anything will even be wrong when they move. Not legal here in CA, but I'm sure you know your state's laws. <strong>Feel free to call it a pet fee if that's what you prefer. [-SM]</strong> If the “pet deposit” is non-refundable, how is that a deposit? Seems like it is a cleaning/repair charge in advance of knowing if anything will even be wrong when they move. Not legal here in CA, but I’m sure you know your state’s laws.

Feel free to call it a pet fee if that’s what you prefer. [-SM]

]]> By: Sistah Ant http://fabulousfinancials.com/2008/09/new-tenants-and-another-year-of-being-a-landlord.html/comment-page-1#comment-27409 Sistah Ant Mon, 08 Sep 2008 14:33:35 +0000 http://fabulousfinancials.com/?p=1338#comment-27409 I hope that all goes well with this new lease. I don't blame you for wanting to check in on the house. Question: how can the renters pay you via direct deposit? Paypal? <strong>I have a bank account specifically created to accept rent payments. They've set up a payroll allotment. [-SM]</strong> I hope that all goes well with this new lease. I don’t blame you for wanting to check in on the house. Question: how can the renters pay you via direct deposit? Paypal?

I have a bank account specifically created to accept rent payments. They’ve set up a payroll allotment. [-SM]

]]> By: Little Miss Moneybags http://fabulousfinancials.com/2008/09/new-tenants-and-another-year-of-being-a-landlord.html/comment-page-1#comment-27406 Little Miss Moneybags Mon, 08 Sep 2008 13:32:48 +0000 http://fabulousfinancials.com/?p=1338#comment-27406 Good luck with the new tenants--they sound like they'll work out pretty well. I'm curious though, about your quarterly inspections. I've been a renter for almost seven years now, and I've never heard of such a thing. Granted, I have mostly lived in larger apartment buildings where the landlord owns many properties, but even when I lived in a private house, this was not stipulated in my lease. What are you looking for? How thorough are you? <strong>I (well my maintenance guy) do a walk through of the entire home. He checks around the toilets and under the sink for leaks. He checks the windows, W&D, and make sure all major appliances are working properly. He also checks for safety hazards and I glance around to make sure they are keeping up the place. During one of my visits, I had to ask them to remove boxes in the garage because they were blocking the closet that housed the air filter and emergency water shut off valve. The second time, we noticed some type of a creature problem that was digging holes in the back yard that. They didn't report it, but when my maintenance guy saw it, I was able to address it immediately without any expensive damage. During a third visit, I noticed something in the front yard that was an HOA violation. It could have cost me a fine, but I was able to give them a friendly reminder and avoid the hassle of who did what/when/why and who was responsible for paying the fine. Basically, anything can happen. It's a scheduled form of communication between myself and the tenant. It is a home that I own, care about, and would like to maintain. It isn't just a dwelling to make a buck. [-SM] </strong> I'm curious because, if I was every required to agree to this as a stipulation of the lease, I would probably refuse to sign it and take my money elsewhere. <strong>You would just go elsewhere then. I wouldn't change the terms of my lease just because you didn't like them. What you won't do, 10 other tenants will. [-SM] </strong> I'm an excellent tenant and have left every place I've lived in better shape than it was before I moved in, and I'd be offended and uncomfortable by my landlord checking in on me four times a year. <strong>It's good that you keep up the places you rent. If that makes you uncomfortable, we couldn't do business. [-SM]</strong> I'm just curious as to whether this is common and how you deal with it. <strong>I know many RE investors that do frequent drive bys of their property and many don't give 48 hr notices. IMO, 4x per year is reasonable. [-SM]</strong> Good luck with the new tenants–they sound like they’ll work out pretty well.

I’m curious though, about your quarterly inspections. I’ve been a renter for almost seven years now, and I’ve never heard of such a thing. Granted, I have mostly lived in larger apartment buildings where the landlord owns many properties, but even when I lived in a private house, this was not stipulated in my lease.

What are you looking for? How thorough are you?

I (well my maintenance guy) do a walk through of the entire home. He checks around the toilets and under the sink for leaks. He checks the windows, W&D, and make sure all major appliances are working properly. He also checks for safety hazards and I glance around to make sure they are keeping up the place. During one of my visits, I had to ask them to remove boxes in the garage because they were blocking the closet that housed the air filter and emergency water shut off valve. The second time, we noticed some type of a creature problem that was digging holes in the back yard that. They didn’t report it, but when my maintenance guy saw it, I was able to address it immediately without any expensive damage. During a third visit, I noticed something in the front yard that was an HOA violation. It could have cost me a fine, but I was able to give them a friendly reminder and avoid the hassle of who did what/when/why and who was responsible for paying the fine. Basically, anything can happen. It’s a scheduled form of communication between myself and the tenant. It is a home that I own, care about, and would like to maintain. It isn’t just a dwelling to make a buck. [-SM]

I’m curious because, if I was every required to agree to this as a stipulation of the lease, I would probably refuse to sign it and take my money elsewhere. You would just go elsewhere then. I wouldn’t change the terms of my lease just because you didn’t like them. What you won’t do, 10 other tenants will. [-SM] I’m an excellent tenant and have left every place I’ve lived in better shape than it was before I moved in, and I’d be offended and uncomfortable by my landlord checking in on me four times a year. It’s good that you keep up the places you rent. If that makes you uncomfortable, we couldn’t do business. [-SM] I’m just curious as to whether this is common and how you deal with it. I know many RE investors that do frequent drive bys of their property and many don’t give 48 hr notices. IMO, 4x per year is reasonable. [-SM]

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