We have a large 4 bedroom 3.2 bath brick townhouse that is the crown of our rental properties. We decided to sell the property during the pandemic to get the highest price possible. However, in our state, tenants have the right to purchase the rental property first. Bummer! We were really looking forward to getting […]
Posts with the tenants tag
How to Keep a #Tenant for 23 Years! #realestatetips #realestateinvestor
We have been fortunate to have the same family reside in our rental townhouse for 23 years! When they applied to rent the townhouse from us 23 years ago, they were having some credit problems so we requested that they provide 12 post-dated check every year. It worked out very well. They didn’t ask for […]
Ending a Tense Landlord-Tenant Relationship! #propertymanagement #propertybrothers
Approximately 3 years ago, we rented a 2 bedroom 1 bathroom condominium to a young man. He was married but leaving his relationship with his wife. We felt fortunate to find a good tenant because the rental property is in a low to lower-middle income neighborhood. His credit wasn’t so great but he had stable […]
When You Like #Tenant Who is Behind on Rent! #propertymanagement
We have a one bedroom condominium with a tenant who has been renting from us for 8 years. She is a 33 year old single professional who has paid her rent on time. She rarely calls or complains, so we don’t increase her rent at the rate in inflation. As a result, her rent is […]
5 Signs of a Motivated Seller! #realestatetips #realestateadvice
What is a Motivated Seller? A motivated seller is an individual who is anxious to sell a real estate property. Examples of reasons they are anxious to sell include: Financial Difficulty Medical Issues Divorce Job Relocation Bad Tenant Absentee Owner Why look for a motivated seller? Motivated sellers need to get out from under the […]
When Prospective #Tenant Wants to Move In Quickly … #tenantscreening
We have a one bedroom condominium for rent. The current tenant gave notice about 3 weeks ago. We always require 60 days notice so that we can minimize loss of rent when we have tenant turnover. We advertise using Zillow and Craigslist. It is extremely important to thoroughly screen prospective tenants! Your tenant evaluation criteria […]
#Plumbing #Leak Damages Ceiling & Walls! #propertybrothers
We own a 2 bedroom condominium that we purchased last year. The unit above ours was foreclosed around the same time, and a new owner purchased the above unit about 6 months ago. We were able to take a peak at the above unit while it was vacant and it needed lots of work. A […]
4 Lessons Learned – #Section8 #TenantScreening
Let me preface this post by saying that we are not casting aspersions on the Section 8 program. We can only speak from our personal experiences. During the past 2 -3 years, when we advertise a property for rent, we get many inquiries from prospective tenants who have “housing vouchers.” The “housing vouchers” go by […]
When #Tenant Borrows Security Deposit … #tenantscreening
We posted a 2 bedroom condominium for rent. The condo is located in a lower middle class area, so it was taking longer than usual to find an acceptable tenant. A 41 year old man submitted a rental application. His initials are DA. DA had fair credit, an acceptable salary, and a good landlord reference. […]
When #Tenant Negotiates Up Front … 3 #LessonsLearned
We have a 4 bedroom 3.5 bathroom townhouse for rent. We received an inquiry from a 47 year old male schoolteacher with a 12 year old daughter. His initials are KLJ. A divorce damaged KLJ’s credit, but his income is over $80k per year, and he has a very good landlord reference. Due to his […]