Re: One Hour And 30 Minutes - Landlord Forum thread 335418

Re: One Hour And 30 Minutes by Anonymous on May 24, 2015 @20:49

Hello, I am the OP LL in the south. Part of your questions may be explained by the fact that this tenant is military and was PCS'd to this city. This tenant already owns a property elsewhere in the country and appears to be upside down on the appraised value versus the mortgage. Yes this person appears over extended.

It was interesting that this person dictated their own version of the happy clause, they did not use that name, (30 day notice and pay 2 months), and expected that to be in the lease because they had that before in a lease. I know my state"s property code and applied it. My eviction/small claims attorney has not reviewed my lease but he made me aware of a number of things I should be doing and not doing. I figured the LPA lease was good as is, customized for my state.

This SFH has rented for the last ten years at about the same rent. The rent has not been increased and there is a good discount for military. It is at market value, or a little below, based on my neighborhood comps and several on-line rent estimating services including section 8. No I don't take section 8. If I was to add appliances I would have to move up to the next pricing tier and then it would not be competitive in that tier. I offer some things few other properties do: I accept small pets and have lots of mature trees and shrubs surrounding the house, corner lot and cul-de-sac in the fastest growing area of this city The house is older and for only about $300.00 more in monthly rent you can get a much newer house with appliances and absolutely no landscaping, except for a mile of grass that requires mowing and a lot of water (we are in a drought here). It seems that renters here don't care about landscaping; they only care how snazzy the interior is. Well, go pay an extra $300.00 per month!

[ Reply ] [ Return to forum ]

Re: One Hour And 30 Minutes by J (FL) on May 24, 2015 @22:40	[ Reply ]

It seems to me you need to make a decision either to sell this house or invest in improving the interior a bit (put newer appliances then what you have in there now--if that is the problem that is driving people away). Raise the rent a bit, like $50 or $100, so you can still undercut those houses that are $300 higher in rent. In the springtime it shouldn't be sitting vacant for months, with a PITA being the only qualified applicant.

Re: One Hour And 30 Minutes by Anonymous on May 24, 2015 @23:13	[ Reply ]

Thank you J. You assume that a PITA is the only qualified applicant. I have three other applications in house I am working. I do extensive pre-screening (LPA form) and all the apps have their baggage. I am already as high as I can go on rent, $995.00. When I get into the $1,000.00+ range I lose interested parties. The $1,000.00 barrier is what I am up against. I have tried dropping the rent in a market test temporarily and it made no difference. Last year people did not expect a sub $1,000.00/month house to have full appliances. My direct competition does not. Now they expect the amenities of a $1,250.00 rent house for $995.00. Would you rather have beautiful 30 year old mature trees and landscaping or no landscaping and a fridge? You can buy a stupid fridge on Craig's List for $250.00 but how can you buy awesome shade trees?

Re: One Hour And 30 Minutes by Patty on May 25, 2015 @00:36	[ Reply ]

that makes no sense, the house has been vacant for months! that stupid refrigerator has cost you thousands in lost rental income.

Re: One Hour And 30 Minutes

Re: One Hour And 30 Minutes by J (FL) on May 25, 2015 @08:40	[ Reply ]

It was not meant as an insult -- as you presented it in the OP the PITA was your only qualified applicant, and the place had been vacant for months. You left out a lot of facts in your OP, that's why people are confused here.

Re: One Hour And 30 Minutes

Re: One Hour And 30 Minutes by Anonymous on May 25, 2015 @11:11	[ Reply ]

Your place has stood empty for a reason. There is no point to argue for the status quo. It isn't working. Look for the way you can make your place the most desirable in your market. You cannot make money if you cannot get good, qualified tenants that will stay long term. I didnt say make your place over valued for your market...but...start by admitting that something you are doing or not doing is causing this situation.

Re: One Hour And 30 Minutes by anon on May 25, 2015 @18:05	[ Reply ]

None of this makes sense at all to me. You say you have a good discount for military, but you are unaware of the Service members Civil Relief Act (SCRA) which allows service members to break a lease upon transfers. If you rent to military, such a clause should be in your lease. You state for the past ten years the rent has remained about the same, but you are currently at market value? "If I was to add appliances I would have to move up to the next pricing tier" what do you mean by pricing tier, you either have a competitive product or you don't? "The house is older and for only about $300.00 more in monthly rent you can get a much newer house with appliances". Are you saying that new homes in the area that rent at the same pricing tier get an additional $300 for having appliances? Could you not supply appliances and add $150 month to your bottom line? Having wonderful shade trees just means tons of leaves in the fall, plugged rain gutters, etc. It adds no value to the tenant, just additional work. "My eviction/small claims attorney" it would be hard for an attorney to survive being a eviction and small claims only. I could go on, but this has to be a joke or a very unknowledgeable landlord with both poor marketing skills and property.and

Re: One Hour And 30 Minutes by Anonymous on May 26, 2015 @07:04	[ Reply ]

You are right. It's like a tenant sob story that falls apart when you investigate the facts.