landlordwhisperer: FAILING to PLAN is the same as PLANNING to FAIL when Tenants want to get their Security Deposit BACK
- 07/23/11 01:13 PM
Today I returned the balance of the security deposits for my June move-outs. Virginia allows 45 days to account for and return tenant security deposits and this time limit is outlined in my lease. 90% of my departing residents got their ENTIRE security deposit back. I'd L♥VE to have 100% security deposit returns for all residents and I think while most residents want to get their entire deposit back, some don't feel that my move-out instructions apply to them. Like... ......the tenants who did not weed, mulch or mow the yard before they left and when he got my itemization taking … (8 comments)
Now, I have RErented the property for $300 MORE per month than she was NOT getting for the last 12 months AND she is spending over $20,000 in REpainting, REcarpeting, tree removal and other lighting and appliance upgrades. When we met at the property I advised … (5 comments)
landlordwhisperer: LAST BIG Move-Out Date for this YEAR! * I'm HAPPY To See SOME Residents Leave!
- 07/15/11 08:03 PM
I am VERY Happy to See Some of my RESIDENTS LEAVE! ....like the couple who did not renew their lease and then called and e-mailed me every other day for the last month saying they wanted to stay. She has been calling me for 2 weeks saying she was leaving him because he has a GF and does not come home. When I said NO to their staying; they called the property owner and then the residents had a big fight where the police were called when the owner let slip "we" know about the GF. They turned in their keys … (8 comments)
landlordwhisperer: Choices of Area Rental Homes are Getting EASIER!
- 07/09/11 06:09 AM
There is a quote attributed to Henry Ford when he was asked if a customer could pick the color of his new Model T * Any customer can have a car painted any colour that he wants so long as it is black.
That pretty well sums up our area rental selection mid-way through this year's rental season. Choices are NOT HARD because they are very FEW!.I showed a home last week to a couple who said they would "get back to me". They e-mailed me yesterday that they would like to go forward; unfortunately, the home they were … (5 comments)
landlordwhisperer: DIY Landlords are at a DISADVANTAGE When They Do NOT Have Photos of their Property VACANT!
- 07/07/11 12:35 AM
Having photos of a rental property when it is VACANT seems like a NObrainer if only for the documentation of the condition of the property before new renters move in. Unfortunately, many DIY landlords do not take this step even with their smartyphone in their pockets, in their car, on the kitchen counter when the property is VACANT. I frequently get calls from DIY landlords who want rental comps for the property they are about to put on the market. I ask them if their home is on Craigslist and I'll review it there for my knowledge of the market. They … (4 comments)
landlordwhisperer: I've got Tenants READY to Move-In Next Week * My Owners Need to START PACKING!
- 06/28/11 10:58 PM
The current FRENZY of prospects attempting to locate area rental homes has ramped up several notches. My last 2 homes where the owners were moving out and new tenants were moving in * the 1st I had a week and the 2nd I had 1 day - I could not get it cleaned, only the carpets done. That was CLOSE! Now, I am expecting BEAUCOUP calls from rental prospects this weekend and Monday and I already have a couple wanting to see my "last" owner-occupied to rental home......and the prospects need to move in next week and my owners have not … (13 comments)
landlordwhisperer: WSJ says to become a LANDLORD when you RETIRE!
- 06/28/11 02:22 PM
A recent WSJ article highlights a little advertised but widely known gem in the landlording community - retiring as a landlord in a multi-unit building. Many retirees are seeing this as an alternative to full-time retirement AND a way to hedge their retirement income with net cash flow that does not effect their social security retirement benefits AND providing a FREE place to live.
Finding the right building may take some time and the type of unit the landlord/owner will occupy is a major consideration in addition to the building's cash flow and need to routine maintenance. Some new … (10 comments)
landlordwhisperer: My DIY LANDLORD Tenant Needs My Advice to EVICT His Tenant
- 06/15/11 08:41 PM
It was only a matter of time.....a CURRENT tenant/DIY landlord would have trouble with a CURRENT tenant of theirs and ask for my help. I am not concerned that they did not ask ME to manage their current rental home that is in an adjacent county a year ago when they started renting from me. They had been rental residents in the area for a year prior so how they leased and managed their local rental home was not an issue. However, when I got his e-mail yesterday asking me to CALL HIM so he could PICK MY BRAIN (my words … (8 comments)
landlordwhisperer: Departing Tenant Wants Their ATTORNEY to Attend Their Move-Out Inspection
- 06/13/11 11:41 PM
One of the pitfalls of the internet is that there are common MISconceptions about the move-out inspection. In Ca, tenants can request a PRE-move-out inspection so they are given time to correct any deficiencies and mitigate damages taken from their security deposit. In Virginia, we actually have 2 codes that govern the landlord-tenant relationship * one is fairly strict and it's use is triggered by the # of rental properties owned by the property owner * one is COMMON LAW and is used by SMART landlords (and their property managers) with less than 10 rental units. My rental units fall under … (29 comments)
landlordwhisperer: Stay Cool with these A/C Tips
- 06/09/11 11:37 PM
I've had several AC units go down this month in my clients' rental properties so my HVAC service firm actually has portable units that they can install. I am pleased we installed a new system a few years AND cut new ductwork for the return air.....blocking vents is a REAL no-no! Great Tips!
Don't worry, I can help you! Just give me a yell and I'll do everything I can to assist you! :)
Curt Baumgarth
CDPE Certified Realtor Century 21 All Star Realtors 480 266 9796 WWW.MyAgentCurt.com About Curt: Curt Baumgarth is an AZ License Realtor, MAOM educated, … (2 comments)
landlordwhisperer: New Rental Prospects ENTER the Rental Market * HomeSellers IN ESCROW
- 06/08/11 12:04 AM
My rental property inventory is considerably less this year than last year at this time. Many residents REnewed their leases and some have even changed their minds when they got into their new rental home search and realized that they would we be paying MORE rent for LESS of a home....so they elected to remain in my clients' property rather than go through the moving upheaval and costs. Now I am getting rental inquiries from homeowners who have their homes in escrow and just like when a rental prospect is a NEWhire to our area and I want to see their … (7 comments)
landlordwhisperer: Why I don't give current clients' names to WOULD-be clients!
- 05/31/11 11:13 PM
Several decades ago, while starting my FIRST property management firm in NoCA, I was new to the area and had no track record to attract clients...it was an UPhill battle so I thought outside-the-box. I worked hard for 6 months, got about 50 properties and I devised I DYNOMITE written property management proposal, the "bones" of which I still use today. After getting their permission, I had a one page list of "current clients" who would give me good references if asked * one client owned a portfolio of single family homes and duplexes that his father assembled and that he … (8 comments)
Renters are going to remain RENTERS because they want BIG SCREEN TVs and MOBILITY....The higher rents are a GREAT trade off for their MOBILITY, ability to move to get their kids into better schools and they don't have to delay their purchase of a BIGGER SCREEN TV or NEW CAR to keep their good FICO score.If real estate agents want to take advantage of their area's HIGH RENTS in their … (4 comments)
Today I returned the balance of the security deposits for my June move-outs. Virginia allows 45 days to account for and return tenant security deposits and this time limit is outlined in my lease.
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