Paint

Today I had a issue with a tenant in one of my rooming homes that makes me think maybe I should put EVERYTHING in writing.  Somethings seem self explanatory or common sense, but when dealing with people I think that assumption is to be determined.  I go to the house to put in the household necessities and the door to one of the rooms on the lower level is open so I glanced in and noticed the walls have been painted. Now I wouldn't have an issue with this if the tenant asked and if it was an appropriate color (neon yellow). I am upset and don't know how to handle this because for starters its not in writing, once you let one person get away with it then its like a chain reaction, dont want to lose a tenant / income, and when they leave I have to paint it back.

Smoking or Non-smoking?

I usually don't care about the smoking in my homes, but lately I have noticed that more of my tenants smoke.  This isn't really a problem but I have been having to paint more than usual. Ive also noticed that it has caused the mirrors in the home to stain or become cloudy due to smoke and the poor maintenance. The homes have a odor and appears to be dusty.  There are a few tenants who don't smoke and have put complaints in the complaint box, but I'm not sure of what I should do. In a since I think it would save me some money on paint and cleaning products but having non smokers may cause me to loss tenants. Indecisive on what I should do.

Dogs

I have a dog and I am quite fond of her. With that being said I usually don't have a problem with my tenants having pets.  It usually isn't a problem because I let the tenant know that if there is any damage because of the pets it will be deducted from the security deposit. Now I usually don't do inspections on tenants home because once they rent it I want them to feel comfortable and ask them to treat it has if it was their own, but I went in one of my units because I had to fix the bathroom sink and oh my God! The Dog demolished the house. Not only did they have the one dog, but four, cats, fish, birds, rabbit, and some fish. Who knows what else was living in the cracks. I am so disappointed and I almost know that the security deposit wont cover the damage to that house. Now that makes me feel like maybe I should do one or more of the following; limit the amount of pets, stop allowing pets, do inspections, and ask for higher deposit for those who have pets.

www.propertydo.com/pets-in-rental-properties.html

Question to renters and landlords; what do you think is more important, paying your rent or having a good holiday / Christmas with your family? Do you think it's ok to short your landlord rent and assume they understands? Should the landlord be more understanding to the needs of the tenant and show some holiday cheer? Me personal I feel business is business. No matter what this world is still turning.  Every situation has different outcomes. There are people who just try to get by and those who just try to get over. So it's all based on communication and the relationship between tenant and landlord.  Then the decision / answer can be made accordingly.

Rent a Room!

I am having a weekly special $100 a week!  Rooms are fully furnished with cable ready television.  With this being said I know that the end of the year is approaching and the holidays can put a dire situation on your pockets. This is why I am being understanding and offering rooms for a special rate. If you have any questions or concerns please feel free to contact Deshawn or Marvin at (414)323-0408.

 

Children in a rooming house.

I have multiple homes for rent and sale.  One of the homes is a rooming house.  Lately I have been getting a lot of calls from individuals requesting a room for them and their children.  I havent been accepting children just adults over 18, and the rooms can't occupy more than two (but I charge extra for couples).  I'm starting to see that I am losing revenue this way.  I don't accet children for several resons. One being space and another being conflicts with other tenants in home. Do you think I should change my policy a little? Why or why not?

I'm in the process of purchasing another home. It needs a little work but I have a vision and the most important thing is I have a plan.  But with that being said there is one thing I am going back and forth with and that's how I'm going to renovate this home.  Should I turn it into a rooming house (which brings in some type of income each month whether it is a few hundreds dollars or a couple thousand a month) or rent it as a single family (which can be steady income (but less) if one signs a lease, but can be a lost if home goes unoccupied).  I'm weighing out the pros and the cons, the benefits and the applied benefits.  At this point I have one rooming house that I own by myself, one home that I own and rent out monthly, and three rooming houses that I have partnerships with. With the aspect of income I think the rooming house would be the better idea, but with the hassle I think single families are more convenient. So I ask myself which is more important generating income or being hassle free. Here are a few sites I looked at based on this what do you think?

http://wiki.answers.com/Q/What_are_the_advantages_and_disadvantages_of_boarding_houses

http://www.propertyinvesting.com/forums/property-investing/help-needed/25531

http://www.investmentproperty-austin.com/tag/pros-and-cons-of-investing-in-a-single-family-home/

http://www.realestateforum.com/blogs/aljay/3254-single-family-houses-pros-cons.html