The Accidental Landlord (by DrMike [ME]) Aug 28, 2016 1:44 PM
The Accidental Landlord (by razorback_tim [AR]) Aug 28, 2016 2:30 PM
The Accidental Landlord (by Ray-N-Pa [PA]) Aug 28, 2016 3:38 PM
The Accidental Landlord (by plenty [MO]) Aug 28, 2016 4:23 PM
The Accidental Landlord (by cjo'H [CT]) Aug 28, 2016 5:42 PM
The Accidental Landlord (by Jane B. [FL]) Aug 28, 2016 6:36 PM
The Accidental Landlord (by AllyM [NJ]) Aug 29, 2016 12:08 PM
The Accidental Landlord (by Amy [MO]) Aug 29, 2016 1:35 PM
The Accidental Landlord (by myob [GA]) Aug 29, 2016 1:48 PM
The Accidental Landlord (by DrMike [ME]) Aug 29, 2016 2:20 PM
The Accidental Landlord (by DrMike [ME]) Posted on: Aug 28, 2016 1:44 PM Message:
We became accidental landlords when we couldn't sell our SFH in Maine a few years ago. We began renting, and prudently used a property manager. The PM decided recently that the possibility of lead paint on our 150-year-old house was a liability he didn't want going forward, so now we are managing directly.
The current tenant is already there almost a year, and wants to remain, possibly several years. I've received the tenant's security deposit from the PM and have set up a separate account to store it in, as required.
Now some questions for you after a few years of occasional lurking.
1. We're not local. It was nice to know that the PM took care of things. But the current tenant has been a good communicator, and it appears like when a repair is needed, we'll be able to work it out. How risky is this? (There are no other PM options available to us in that area.) The tenant and I have already worked out the details of electronic rent payment, and he has paid using the new arrangement.
2. Some of the lease wording from the PM is not the best. No big problems, just that the tenant has asked for some things to be clarified. I've asked a lawyer for an opinion, but want to ask here, too: is it better to keep using the PM's lease (and possibly clarify what the tenant has asked about via emails), or to write up a new one?
Thanks!
--107.179.xxx.xxx |
The Accidental Landlord (by razorback_tim [AR]) Posted on: Aug 28, 2016 2:30 PM Message:
Here's my opinion based on being an intentional landlord :)
Get your own lease. If you and your tenant are having to clarify issues then it is not a good lease. A good lease will protect you and be easy to understand. I bet your attorney will tell you the same.
As for checking on the property - consider having a friend or relative who still lives in the area drive by the house every month or two to make sure things look OK from the outside. Consider returning to ME every 6 months or so to lay eyes on the property and do an interior maintenance inspection while you're there. When you do have repairs, try to use a service company/person where you can actually talk to the person who goes inside the unit. Follow-up with them and ask them how the unit looks.
You've already handled one of the most important parts of long-distance landlording, and that's how to collect the payments.
Good luck. Hope this helps. --70.178.xx.xx |
The Accidental Landlord (by Ray-N-Pa [PA]) Posted on: Aug 28, 2016 3:38 PM Message:
Find a local landlord group or investment group.
Use the forms that these folks use - there is no sense in rediscovering the wheel.
Find out who these folks use for handyman work.
Find a handyman now, before you need one will save you money and grief when you do need them --72.23.xxx.xxx |
The Accidental Landlord (by plenty [MO]) Posted on: Aug 28, 2016 4:23 PM Message:
Hi, and welcome. Seems like this may work for you,
Read this sight daily.
Also never let tenant handle repairs solo, never take ir off the rent, never let their friends fix anything, never let tenant fix anything and never let them do it in exchange for rent. Always hire your own repair person and always pay yourself. You should go to property and take a full set of dated pictures. .. and always ask the tenant first cell.phone pictures of anything they call about for repairs. Keep in communicate with them. Keep asking questions in here. And reading. Don't make and deals or exchanges for servkces with tenant. Remain in charge ! --66.87.xx.xxx |
The Accidental Landlord (by cjo'H [CT]) Posted on: Aug 28, 2016 5:42 PM Message:
Dr.Mike, seems like you have things pretty well in control.as your tenant has been there for some time now. If they don't have children under three years old in your house, you should be all right.@where did you relocate to?Are you far from hour originally house,If not just drop by once in a while to say hello to the people and let them know you are interested in their well being. Charlie...... ...... .... ... .. --70.215.xx.xxx |
The Accidental Landlord (by Jane B. [FL]) Posted on: Aug 28, 2016 6:36 PM Message:
I managed three houses in Florida as a snowbird. It can be done, easily, but it's more expensive to hire out all jobs when you are off site.
I'd get a call when people got home from work that their a/c had gone out. I'd call and get a tech there, and it would get fixed. (Most of the time. I knew the techs were mediocre, but didn't have much choice.)
--173.48.xxx.xxx |
The Accidental Landlord (by AllyM [NJ]) Posted on: Aug 29, 2016 12:08 PM Message:
I use a pre printed lease. You can find them in stationery stores. One is the Bloomburg lease but I forget the spelling.
In NJ we have to disclose where lead paint is and keep it covered up, encapsulated. I paid a guy with an xray machine, hand held, designed to detect the level of lead in paint. It has been nice to know. It cost about $250 per unit. There must be someone in the state who does that. --73.33.xxx.xxx |
The Accidental Landlord (by Amy [MO]) Posted on: Aug 29, 2016 1:35 PM Message:
Just get your repair ducks in a row. A plumber, a handyman, a HVAC guy, an electrician, maybe a painter and a lawn maintenance guy too. Never hurts to have 2-3 of each.
And if you can't understand the lease, time for Brad's listed on this site.
The lead should be OK as long as the kids are over 6, and as long as it isn't chipping. You can paint over it without remediation as long as it isn't peeled or chipped. Window sills should be periodically wiped/cleaned if they contain lead. As long as you have good communication you should be fine... --107.77.xx.xx |
The Accidental Landlord (by myob [GA]) Posted on: Aug 29, 2016 1:48 PM Message:
if the house was built pre 68-- that's 1968 not 1868 have them sign for the LBP booklet and move forward.
Book says don't eat the window sils.
No eventually this never works. Hope for the best of course.
Asking a lawyer whoopee --- or should we say $$$$$$$$$$$$$.
If you hire an attorney might as well pay for management?
Can we ask where are you living? you said property was in ME and your handle is DRmike ME? --74.184.xxx.xx |
The Accidental Landlord (by DrMike [ME]) Posted on: Aug 29, 2016 2:20 PM Message:
Hi, all, and thanks for your very helpful replies.
The house is indeed pre-68, both 19- and 18-. The tenant's kids are college-age, so hopefully they won't be nibbling on paint chips.
We're not in ME anymore, but about 6 hours away.
The lawyer is a friend, so no charge there. Just haven't heard back from him yet. On the other hand, I do have a lease he gave me a few years ago. (There were two, the one-sided one and the fair one.) :)
Thanks again.
--107.179.xxx.xxx |
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