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Subject: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/04/07 at 2:09 pm
I have been doing rental properties for the last 7 years and am currently going through college to get my Bachelor of Science in Real Estate Business, Property Management.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: bookmistress4ever on 12/04/07 at 6:52 pm
How did you get involved in that field? Would you (someday) like to own a duplex or something and turn that into rental property for yourself?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/04/07 at 7:05 pm
Real Estate is my business, especially in the rental end of things. A dueplex heck, that is not anywhere near where my ambitions lie. I want the world; or at least around 100 apartment communities.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: snozberries on 12/06/07 at 8:37 pm
This one is serious... I have a Rottie, I know they have a bad rep but mine is more like a black lab with brown spots.... she recently lost her sight. How can I spin this to make someone willing to rent to me? She also comes with a letter of reference from a SGT at the Police Dept where I work....that's how I got into my last place.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/06/07 at 8:56 pm
Well this is something I do have some knowledge of. Rottweilers are very difficult. This actually deals with insurance. There are certain dogs that insurance companies do not allow and Rotts are one of them. The landlords have to pay a much higher premium when it comes to having those specific dogs on their properties that are on the list.
My suggestion for this is to have as many recommendations for the dog as you can possibly have. If you have previous landlords that would give a recommendation for the dog, it is very helpful. The recommendation from the police does help, but landlords are better. Also making sure that the landlord understands that you have your own insurance on the animal does help matters, provide proof of it to them when turning in an application. Also private property owners are a lot more understanding then large companies. I would see what you could do about finding a private owner to rent from directly.
I hope for the best for you and your pooch. I know that I have been told by my boss that I can never accept a dog that is on that list.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: snozberries on 12/06/07 at 9:07 pm
Well this is something I do have some knowledge of. Rottweilers are very difficult. This actually deals with insurance. There are certain dogs that insurance companies do not allow and Rotts are one of them. The landlords have to pay a much higher premium when it comes to having those specific dogs on their properties that are on the list.
My suggestion for this is to have as many recommendations for the dog as you can possibly have. If you have previous landlords that would give a recommendation for the dog, it is very helpful. The recommendation from the police does help, but landlords are better. Also making sure that the landlord understands that you have your own insurance on the animal does help matters, provide proof of it to them when turning in an application. Also private property owners are a lot more understanding then large companies. I would see what you could do about finding a private owner to rent from directly.
I hope for the best for you and your pooch. I know that I have been told by my boss that I can never accept a dog that is on that list.
thanks... I know its gonna be hard but I'll find something... I don't have to move I just want too I feel like its time.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/08/07 at 12:56 am
I also know about a good deal about maintenance issues as well.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: bookmistress4ever on 12/08/07 at 2:41 am
I know some apartment complexes list their rental units on websites like rent.com or they have a webpage. Do you do that for the units that you rent out? Although I'm sure it keeps you busy enough just doing day-to-day things for your tenants.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/08/07 at 2:44 am
I know some apartment complexes list their rental units on websites like rent.com or they have a webpage. Do you do that for the units that you rent out? Although I'm sure it keeps you busy enough just doing day-to-day things for your tenants.
I do have a webpage actually. If anyone would like to take a look it is at www.readytorent.info
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: bookmistress4ever on 12/08/07 at 2:50 am
Very nice webpage!
Do you have a big staff to help you with the apartments?
What maintenance issue tend to come up most often?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/08/07 at 2:56 am
Very nice webpage!
Do you have a big staff to help you with the apartments?
What maintenance issue tend to come up most often?
I have quite a few vendors, but not really any staff. I have 1 part time maintenance employee and that is all as far as "staff" goes. I take care of most everything on my own and if I can't I will genrally call someone in to take care of it for me. But not too much I can't handle.
The maintenance issues that come up the most often is clogged sewerlines, which I call a vendor to take care of. I don't care how much they pay me, I will not snake main lines!!
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: bookmistress4ever on 12/08/07 at 3:05 am
I'll bet you have horror stories and/or great stories about your tenants.
When we were renewing our lease this year, a man came into the office while we were signing contracts, and wanted to speak to the office manager who was away at a conference or something. He was rather insistant. He then proceeded to get angry at the poor office girl because the manager wasn't there. He handed her a prescription bottle taped up and said "Give this to her when she gets in." Turns out it was a bug. :o ::) ::) The manager had already sent out a extermination crew the month before, plus they always spray after tenants leave/terminate their lease.
Do you have special apartments that accomodate those that may be handicapped?
How many units do you oversee?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/08/07 at 3:15 am
The manager had already sent out a extermination crew the month before, plus they always spray after tenants leave/terminate their lease.
Do you have special apartments that accomodate those that may be handicapped?
How many units do you oversee?
I also spray between tenancies. I also have a monthly spraying around the perimeter of my units. Tenants don't realize that daily treatments are up to the tenant. If a person has a problem with pests it is usually caused by a tenant themselves. I don't tolerate insolence at all from my tenants. Nobody had better yell at anybody. I would tell him where he could stick it. I would tell him that I keep my side of things but fighting them doesn't just fall to me. If the tenant does not help, it is a loosing battle.
I don't have handicap units per se, but I do have individuals who live in some of my units that are handicapped and have no problems what so ever.
I over see 44 units that is made up of 8 properties. I am the resident manager of the Guardian apartments and the off site manager of the other units. Guardian has 30 units, I have a 6 unit mobile park and 6 houses.
Keeps me running all over town.
Yes I do have my stories.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: snozberries on 12/08/07 at 6:26 pm
kay so the place I rent, I have a small problem with the bathroom linoleum. A strip in the middle of two tiles has come out...it starts half way in one tile and ends half way in another tile and is the width of a pencil.... I could have my landlord fix it but I don't like him in my apt...
do you know how difficult it is to replace linoleum (I think I probably have to redo the whole bathroom cuz its a layer of linoleum not separate tiles)
can I just lay it over the old linoleum or would I actually have to lift the old and lay the new?
If I put pergo (or some cheap wood substitute) down could that be considered an upgrade? and can I lay that over the existing floor?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/08/07 at 8:46 pm
kay so the place I rent, I have a small problem with the bathroom linoleum. A strip in the middle of two tiles has come out...it starts half way in one tile and ends half way in another tile and is the width of a pencil.... I could have my landlord fix it but I don't like him in my apt...
do you know how difficult it is to replace linoleum (I think I probably have to redo the whole bathroom cuz its a layer of linoleum not separate tiles)
can I just lay it over the old linoleum or would I actually have to lift the old and lay the new?
If I put pergo (or some cheap wood substitute) down could that be considered an upgrade? and can I lay that over the existing floor?
To answer your question. If you want to replace the linoleum in your unit, it has to be done by a professional. You also have to have the permission of the landlord to do so.
The misconception about rentals is that the unit is the tenants, that is not true. The unit is the owners. Nobody else has the right to change things in the unit. If the landlord gives you permission make sure it is in writting and you keep it in a file. That way it can not come back to bite you.
You should have a copy of your rental agreement to refere to; if you do not then ask your landlord for a copy, by law they have to provide you with one if you ask.
I know what I am saying is not a popular thing, but it is true and it is the law. I hope this helps.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: Red Ant on 12/09/07 at 1:07 am
kay so the place I rent, I have a small problem with the bathroom linoleum. A strip in the middle of two tiles has come out...it starts half way in one tile and ends half way in another tile and is the width of a pencil.... I could have my landlord fix it but I don't like him in my apt...
do you know how difficult it is to replace linoleum (I think I probably have to redo the whole bathroom cuz its a layer of linoleum not separate tiles)
can I just lay it over the old linoleum or would I actually have to lift the old and lay the new?
If I put pergo (or some cheap wood substitute) down could that be considered an upgrade? and can I lay that over the existing floor?
Like ladyhawk said, the unit is the owners. Most repairs are done by the owner, so you'd be a fool to spend your own time and money to fix or replace the floor. If you don't want the landlord in there, and don't want it to get worse, put a piece of duct tape over the split.
You can double lay linoleum (put new over the old), but I wouldn't recommend it, even if you owned the property. Yes, you'd have to replace the entire floor.
I also wouldn't put cheap or fake wood flooring down in a high moisture area. Aside from the likelyhood of it eventually buckling or warping (not to mention it being slick and you possibly having a bad accident stepping out of the shower), you'd have to pull the toilet to lay it, unless you can hand-cut every piece to exactly match up to the footprint of the bowl.
The owner should be notified of the problem though. If there is water damage or mold under the linoleum, you could wind up eating an enormous bill when you move out.
My question: how much profiling goes on when looking for/interviewing tenants?
Ant
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/09/07 at 1:59 am
Red Ant is correct. The property is owned not by you and you have no right with out the landlords permission to do any improvements. If you owned a house and allowed someone to stay in it and they started remodeling it from what you wanted it to look at, wouldn't you be angry? I know that I would. Also it has to be done by a licensed professional, you can not do it yourself. There are so many issues with that that it could cost you more in the long run. Putting new flooring over old also can cause dry rot. There is probably a bigger problem with the floor that you don't know about. The landlord needs to take a look at it.
My question: how much profiling goes on when looking for/interviewing tenants?
Ant
As far as your question goes Ant, it all depends on the individual company. Most companies have a predetermined track to run on. Either you qualify or you do not. Personally what I do is a credit check, a criminal background check and reference check. I work on a point system. If you make the appropriate amount of points you are in, if you don't you aren't. Most places require at least 3-5 years verifiable rental history. As well as solid employment for at least the term of the lease.
I hope that this helps.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: snozberries on 12/09/07 at 2:00 am
Thanks Melissa & Jack
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/09/07 at 2:00 am
No problem, hope I helped.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: HawkTheSlayer on 12/09/07 at 4:21 am
Melissa's not going to be logging in again for a while, but if you have any questions feel free to ask. I will let her know and she will answer them through me.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: robby76 on 12/14/07 at 8:03 am
My family company is all about the property rentals! We're more landlords than agents though. Ummm no question today, but when I do I'll know where to come! :)
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 6:11 pm
My family company is all about the property rentals! We're more landlords than agents though. Ummm no question today, but when I do I'll know where to come! :)
Well, in what area is your family in property rentals?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: robby76 on 12/14/07 at 7:48 pm
We don't live in the US I'm afraid.
Okay one question... not sure if legal things differ from country to country but...
A tenant signs a rental agreement for 2 years and is leaving after 11 months. At the moment we're letting him get away with it, but could we have charged him for breeching the contract?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 9:14 pm
We don't live in the US I'm afraid.
Okay one question... not sure if legal things differ from country to country but...
A tenant signs a rental agreement for 2 years and is leaving after 11 months. At the moment we're letting him get away with it, but could we have charged him for breeching the contract?
My question on the area of property rentals that your family is in, I meant are they owners? How are agents seen in comparison to landlords?
Contract laws are usually pretty close. In answer to your question, I know in the U.S if someone leaves before the ending of their lease, we have every right to hold them responsible for the rest of the term of the lease. We usually find a medium ground to be courteous, in example, we try to re-rent the unit as soon as possible, but they are responsible for the amount for the unit until that day. In the U.S we can not rent the unit to 2 separate people at the same time. Which I feel is fair.
I would suggest doing some research in your country concerning contract law. Although I would think it would be close to the same. You can input your countries name and "contract law" in a search engine on the web and you should get some hits.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: Reynolds1863 on 12/14/07 at 9:19 pm
I have successfully sued two Property Management Companies. (Two separate lawsuits) for doing stupid stuff. Knowing this and the fact that I know Landlord-Tenent law. Would you still rent to me?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 9:28 pm
I have successfully sued two Property Management Companies. (Two separate lawsuits) for doing stupid stuff. Knowing this and the fact that I know Landlord-Tenent law. Would you still rent to me?
My hat off to you. Not too many people can state that. I am not one of those kind of landlords. I don't really do stupid stuff. I am going through getting my degree in Real Estate Property Management. If you came my way, I would process you just the same as anyone else. If you qualified I would rent to you. I am sure you would enjoy me as a Property Manager. I put that extra little care into what I do.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: Reynolds1863 on 12/14/07 at 9:36 pm
My hat off to you. Not too many people can state that. I am not one of those kind of landlords. I don't really do stupid stuff. I am going through getting my degree in Real Estate Property Management. If you came my way, I would process you just the same as anyone else. If you qualified I would rent to you. I am sure you would enjoy me as a Property Manager. I put that extra little care into what I do.
I had quite a few Property Management tell me there is a black list and I'm on it. After all of that I'm majoring in Paralegal. I don't think that tenants know their legal rights a lot of times, come to find out some landlords and PMs don't either. I'm glad you consider tenants as tenants and not just as a cash flow. Good luck on getting your degree in Real Estate Property Management, the housing market needs more people like you.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 9:40 pm
I had quite a few Property Management tell me there is a black list and I'm on it. After all of that I'm majoring in Paralegal. I don't think that tenants know their legal rights a lot of times, come to find out some landlords and PMs don't either. I'm glad you consider tenants as tenants and not just as a cash flow. Good luck on getting your degree in Real Estate Property Management, the housing market needs more people like you.
Well thank you for the well wishes. I have never heard of a black list in my 6 1/2 years doing this. I actually want to be bigger then what most people would aspire to. Keep your eyes and ears out. You will probably hear about me one of these days.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: Reynolds1863 on 12/14/07 at 9:44 pm
Well thank you for the well wishes. I have never heard of a black list in my 6 1/2 years doing this. I actually want to be bigger then what most people would aspire to. Keep your eyes and ears out. You will probably hear about me one of these days.
Probably just a scare tactic. So do you want to do apartment buildings, condos, commercial property, single family houses or everything?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 9:55 pm
Probably just a scare tactic. So do you want to do apartment buildings, condos, commercial property, single family houses or everything?
Everything. I want to dabble in each area of Real Estate actually. I want my own staff of everything you need to build a Real Estate Corporation. Sales, management, purchases, you name it. I especially am interested in designing units for disabled persons. I want to use my husband as the model to design them around. I notice that all the units I have seen that are fully disabled friendly are only 1 bedroom units and that makes me sick.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: robby76 on 12/14/07 at 10:33 pm
My question on the area of property rentals that your family is in, I meant are they owners? How are agents seen in comparison to landlords?
Yes we own everything - no loans. We've been building our portfolio for many many years... mainly condos and shoplots. We also have pieces of land dotted about, but we're trying to downsize. Despite what it sounds like, it's not a huge company at all - but it's enough for our family.
Good luck with yours expanding!!!
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 10:40 pm
Yes we own everything - no loans. We've been building our portfolio for many many years... mainly condos and shoplots. We also have pieces of land dotted about, but we're trying to downsize. Despite what it sounds like, it's not a huge company at all - but it's enough for our family.
Good luck with yours expanding!!!
That is great! No, I understand what you are talking about. It is like what the owner of the places I manage for and what she has. That is not too shabby at all. It is great you don't have any loans. Just ability to put profits back into make things you currently have more quality. Why downsize, I don't believe in downsizing, just allowing what there is to be more quality. It is alright not to acquire anymore, but don't let what you have go.
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: robby76 on 12/14/07 at 10:52 pm
Why downsize, I don't believe in downsizing, just allowing what there is to be more quality. It is alright not to acquire anymore, but don't let what you have go.
Well the company is really my father's baby and he's 70 now. Without him we'd be nothing. However, we've been roped in to help but really it's not what we want to do. At the end of the day we'll keep a few key properties within the company and sell the others for us kids to re-invest in our own way.
As for agents - we have a good team of estate agents which we use regularly. Some are almost like family friends. We're not adverse to using new agents either - the more the merrier. We've had no problems with agents and they've always been great. It's the fussy tenants who we have problems with. ;D
So do you work alone or do you have staff?
Subject: Re: Ask LadyHawk anything about rental properties.
Written By: ladyhawk on 12/14/07 at 11:06 pm
Well the company is really my father's baby and he's 70 now. Without him we'd be nothing. However, we've been roped in to help but really it's not what we want to do. At the end of the day we'll keep a few key properties within the company and sell the others for us kids to re-invest in our own way.
As for agents - we have a good team of estate agents which we use regularly. Some are almost like family friends. We're not adverse to using new agents either - the more the merrier. We've had no problems with agents and they've always been great. It's the fussy tenants who we have problems with. ;D
So do you work alone or do you have staff?
I wish I had a staff. I am an all in one type of manager. I do it all myself. If I can't I bring in outside professionals to take care of it for me. All I have to do is call and they come to my aide. I have a list of them.
My current boss takes me for granted. I wish she would treat me better. The type of manager I am is very hard to find. I have always taken a great deal of pride in what I do, the last 18 months or so it has been difficult to remember the reason I love what I do. I have always loved the fact that I supply one of the basic necessities, shelter. I would look at all of my units and see the memories that people made in them. Their child's first Christmas, Easter, Independence day, etc.. I just have been having a hard time remembering that. I am finding that I am suffering from a burn out. It is not my job, just my boss.
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