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Monday, December 26, 2016

We Signed With Tenants!

I wanted to apologize for being a little absent from the blog the past few days. There was a lot going on here what with the holidays, construction, and unfortunately most of the family having a virus of some sort or another. I'm still recovering and a few of my kids still are as well...

However, that said, we have some great news! We found renters for our rental unit upstairs from our apartment, and signed today.

I knew there'd be a large demand for this apartment, since there is a shortage of apartments, especially three bedroom ones, where we live. Two weeks ago I posted one short blurb in a local whatsapp group about the apartment, and despite it being under construction we got non stop calls and visits and people interested in the apartment, but we were looking for specific types of renters, and I am happy to say that I think we found a family exactly like what we were looking for. And that is just with posting a short blurb, no pictures, while the place was under construction.

I'd love to write more in depth, but as I said I'm still under the weather. And we still have more to do. Today they installed the granite counter-tops in the rental unit's kitchen, and only recently they finally installed a front door. Between now and the 31 of December we still have more to do- attach the plumbing in the sink, install the cabinet doors, and hang the upper kitchen cabinets. But that is totally doable in a day's work.

But for now, I just wanted to share the good news!

Since January isn't a popular time locally to move, we had the contract end one year from this July, so that it ends at a more reasonable month to find renters.

Any landlords out there? Any tips to give to new landlords so that we can be the ideal landlords? We have experience with bad landlords and we want to be as good landlords as we can possibly be. Or any tips, coming from the perspective of tenants, of things we should make sure not to do as landlords?

8 comments:

  1. Make scheduled inspections part of your contract; schedule them every 3 - 6 months.

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  2. check out landlord.com, great forum. No one advice is stick to your lease, and no excuses on paying rent. Not sure of your laws these, but if they don't pay then give them the eviction notice right away (whatever your laws are). You need the income, so don't play nice. Evict right away if non payers. Since they live above you, I would pay for the apt to be extermintated, you don't want bugs traveling down to your house.

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  3. Congratulations! I'm currently a tenant, and have tenants in a student rental. I'd say be fair with your tenants and don't expect them to be without appliances for long if they break! One landlord had us without a fridge/freezer for 2 weeks in a heatwave, and our current landlord has an insurance policy for household repairs which sends out the worst repair service in the area! Of course insist on rent being paid on time, and that your tenants take care of the home - a detailed inventory and inspection with photos when they move in is a good idea, that way there is no argument about damages when they move out.

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  4. Don't charge the max you can get. Keep it reasonable and they will stay indefinitely. Changing renters is a lot of trouble. It's a pain to find new ones, and cleaning and redecorating is expensive and time consuming. If you like your tenants, be good to them so they will stay.

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  5. We use a property manager who screens tenants. However i like to look over the applications of the ones he thinks are good. The best tricks i have found are to verify whatever they put on their application such as jobs etc through their Facebook page, also tells a lot about the kind of people.. hobbies etc. I am in the states and we have a free court record website, I always check this. It not only shows if they have any violence etc, but shows any bankruptcy type or nonpayments. Also we just charge the fair going rate, not the highest we can get. I would rather someone stay than go through the process multiple times. Make sure to include your pet rules! Pets can cause so much damage.. I know a lot of people do not even allow them.

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  6. Congrats on the renters. I wish your family much success in this new endeavor.

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  7. Where we live, allowing a partial rent payment puts the landlord in a sticky situation with respect to eviction... We only encountered that situation once or twice, though. In general, if you are responsive to complaints/questions, you'll have very happy renters!

    ReplyDelete

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