State Specific Question About: KENTUCKY (KY)

Welcome Kathy. You have found the right place. The landlords here will be happy to offer free advice and guidance.

I would recommend searching for the Newbie Tips posted here quite frequently. Also you might want to look at the following sites adding the appropriate 3 w's etc in front

tenant.net/Other_Areas/Kentucky/ltguide.html

lrc.ky.gov/KRS/383-00/CHAPTER.HTM

louisvillelaw.com/topical/landlord.htm

Hi Kathy, this is definitely the place to be for a new LL. Time to get very busy learning your local and state landlord (LL) tenant law. There is a link at the top of this page that takes you to all of the state web sites. Read all the laws at least twice, then print them out and store them in a binder for future reference.

Visit this site twice daily and read everything you can. Most common topics (rent amount, evictions, repairs, etc) have been covered numerous times, so don't take offense if somone tells you to search the past postings. You can always ask a question, but sometimes we'll ask you to "do your homework" first and then ask for clarification.

Land lording can be a rewarding / frustrating business. The thing you don't want to do is go in uninformed, and sadly most of it is learn as you go. Start networking with local help: find an experienced lawyer who specializes in LL / tenant issues (evictions!), get a line on a HVAC (air and heat) contractor, an honest plumber is also a must-have. Shop around now for a good handyman as well unless you plan to do the work yourself (and know what you're doing).

Read up on local housing code so you don't run up against health/safety violations.

Decide now on your personal response to tenant "stories". How will you screen a tenant? What questions are most important: credit, references, income/employment, criminal background, all of the above (correct answer!)? How long will you allow tenants to be late on rent? What late fees will you charge and are they legal? How long will you wait after a tenant is late to send notice to pay or leave?

As you can see, many many questions. You need to do everything in your power to learn the answers now, or at least get people lined up who can provide you answers quickly and accurately.

Hello Cathy, and Welcome!!

Ellie is right, you’ve come to the right place. I know how you feel. I was a brand new LL two years ago, but unlike you, I had no idea how clueless I was.

Use the search box at the top of the Q&A screen and find; 1st time landlord (by Gulf [FL]) Posted on: Sep 13, 2007 7:32 PM . This post boils down LLing to a nutshell.

There are three books you should purchase.

Landlording; by :Leigh Robinson

The Landlords Survival Guide; by Jeffery Taylor

The Landlords Kit; by Jeffery Taylor

These can be purchased on this sight at a nice discount. You can also get them at Amazon or your local Barns and Noble.

Your local library should have a copy of Nolo’s Legal guide for landlandlords or its equivalent for Kentucky.

Above all remember; The Landlord is in charge, The tenant is not.

Hi Kathy. I'm from Louisville. I'm still learning from some others and I'm not the best teacher.

Keep reading here and take some of it with a grain of salt. A lot of the advice here is great. Much of it might not pertain to us in this town.

If you haven’t already, check out the local Real Estate Association at kreia.com. They have meetings once a month at Mastersons on 3rd Street. You can join for a yearly fee or just pay something like $20 per meeting which includes a meal. You can meet hundreds of people there. I’m sure someone would be nice enough to help you out.

Welcome Kathy, I love Lousiville. I am a big horse lover.

Welcome Kathy, I love Lousiville. I am a big horse lover.

Welcome, Kathy; I'm about 60 miles due east of you and have several LL friends in L'ville who've been helpful; however, those here in my small town are awfully closed-fisted; maybe afraid I'll monopolize their unadvertised handyman or plumber???

I know for a fact there's a good (if pricey) LL assn. there, but you'll get all the free advice you can stand on any topic right here; everyone is wonderful -- well, almost everyone is wonderful -- and supportive; you've found the right place.

So what got you starting in LLing; was this a long-time ambition or accident of the market? Where's your rental? I flirt with the idea of buying a SF rental there for later occupancy since I'd like to relocate.