Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Demonstrates what a big mistake it is trying to rent out the house while the existing tenants were still in it.
Whatever went wrong is on the owner, not the prospective tenant.
20 years and 3 houses, tenants out, get it move-in ready, run the ad.
40 years and 10 houses, when tenants give notice I begin advertising and show the house. Many worthy tenants in our market need to give 60 days notice and I won’t willingly leave a house vacant for 60 days.
I have a hold deposit on the place now. Old tenant moving out 3/31; new tenant moving in 4/10.
40 years and 10 houses, when tenants give notice I begin advertising and show the house. Many worthy tenants in our market need to give 60 days notice and I won’t willingly leave a house vacant for 60 days.
I have a hold deposit on the place now. Old tenant moving out 3/31; new tenant moving in 4/10.
We just pad the rental rate to basically cover a full month of vacancy. This way there is no loss of income if the place is vacant for 30 days. This gives us the ability to show an immediate occupancy vacant unit as well as work on occupancy dates without loss of rent.
We just pad the rental rate to basically cover a full month of vacancy. This way there is no loss of income if the place is vacant for 30 days. This gives us the ability to show an immediate occupancy vacant unit as well as work on occupancy dates without loss of rent.
In most markets right now, that would mean somewhere between $100-$200 more per month. Wouldn't that put you decently above market rate?
In most markets right now, that would mean somewhere between $100-$200 more per month. Wouldn't that put you decently above market rate?
We have economy of scale, so our rent is based on market rates as minimum expense is covered with a 60% occupancy rate. As such, if we were to use traditional rental computations to arrive at the needed rent, we would be below competitors. So we simply add onto the required rent options that minimizes the negatives and charge up what it's worth. In this case adding $400 a month to cover lost rent during a turnover eliminates any concern over lost income. Since it doesn't put us over similar situated units in other properties, no reason not to do so. It hasn't cause any reduction in our waitlist nor has the rental rate been a reason given for not renewing.
I have more concerns than lost rent on a vacant property. Vandalism, squatters, maintaining the property, burst pipes, etc. One time the fence gate was broken and the A/C condenser was taken. Also concerns about people in the neighborhood start parking in the houses’ driveways and even drive on the grass.
Jackasses are NOT a protected class. Simply give them the application, and when they submit it, sit on it for a day and reject it with a formal letter of denial. Make contemporaneous notes on your application review worksheet regarding behavioral issues noted, and keep the entire package in your secure files.
When the applicant contacts you back, just refer them to the denial letter, and state the decision has been made and will not be reviewed. Thank you and good bye!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
