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General Property Management
advice please
S
Steven R
started a topic
over 14 years ago
I have a 4 unit property, that I bought with tenant's and the rent is way under market , i have increase 10% to one tenant an efficiency still under market and did not renew lease on another tenant and had rented a 2 bedroom going on 6 months with a month to month lease and realized that it to is below market considering that a pay all utilities. like i mention its going on 6 month i rented but since then have received calls with some complaints which one is very reason about heat (it was little cold) i have took action and got the attic insulated two day have they called its was too hot not a bad complaint . then one month ago they tell me they had bedbugs i got exterminator found no trace of bedbugs good news.told them they would be reasponsible for extermintor bill wife works for city hall she tells me no i am. I go to city hall they said tenant is responsible... last week he calls he needs get another fire extinghur cause candle w/window open wind blow paper had to use.
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S
Steven R
said
over 14 years ago
to put fire out/ i was like what you really need to be very careful you could of burn down my house... I'm thinking of giving them a 9% increase which still is under market to cover little more of utilities that i pay for all excpet electric. what will you do any advice please. I new only 9 month being a Landlord.
D
Denise S
said
over 14 years ago
Steven: When I am deciding on rent increases, I take many things into consideration. How well does the tenant pay rent; Are they a nuisance? - how do they take care of the property unit? If it is a tenant who is a BIG problem, I adjust or increase accordingly. I also take the market into consideration..supply vs demand and such.
D
Donna
said
over 14 years ago
Your condo docs should explain exactly what the association is responsible for. Check them first. Unless the tenant caused the damage and in your lease, it specifies that landlord will pay for repairs, than you would be responsible.
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