Comments on Single Guy Money: Trying to Keep My Good Tenant

You are upside down on a rental property by $12,00...

2008-03-26T15:15:00.000-04:00

You are upside down on a rental property by $12,000. The rent doesn't even pay the mortgage (I REALLY hope when you say mortgage you are including taxes and insurance), let alone expenses on top of that.... Get out. Cut your losses, and get out!

@anonymous: I don't offer anything with the house ...

2008-03-16T22:24:00.000-04:00

@anonymous: I don't offer anything with the house besides lawncare.

@anonymous: I am not aware of any rent cap percentages in my area.

Hi there. Were I live one can only raise the rent ...

2008-03-15T20:41:00.000-04:00

Hi there. Were I live one can only raise the rent so much a year. It is 4% a year. I do not know what the law is there.

Do you offer any kind of frills with your rent? I ...

2008-03-15T12:51:00.000-04:00

Do you offer any kind of frills with your rent? I am a good tenant and my landlady wanted to keep me when she moved, so she threw in free internet, cable and laundry. These things make a difference!

Anonymous... I guess it really comes down to indiv...

2008-03-14T07:06:00.000-04:00

Anonymous... I guess it really comes down to individual preference doesn't it as I would much prefer to go through a real estate agent than an individual. I guess if there were ever any conflict or disagreement I feel like they would be able to manage the problem better as it is their expertise and they are less emotionally attached (not that all investors and landlords are emotionally attached).

Wow! 10%! I know what I would tell you to do wit...

2008-03-13T13:18:00.000-04:00

Wow! 10%! I know what I would tell you to do with that.

Plus, no way I sign a 2 year lease. Way to restricting.

However, most people are cattle, so you should be fine.

@trisha: Per rentometer, the average in my area is...

2008-03-12T19:12:00.000-04:00

@trisha: Per rentometer, the average in my area is $1100 and $1381 on the high end. Thanks for the great suggestion.

Hey, Single Guy - Have you done a market analysis ...

2008-03-11T23:34:00.000-04:00

Hey, Single Guy - Have you done a market analysis lately in your area? Is your rent amount on par with what's available? If you're low, it would at least help you stand your ground in negotiations with the current tenant. You could say, "Well, $1100 is still very reasonable for what you'd find around here for this type of property. Check for yourself!" There's no reason you should be going

@fitcat: I prefer dealing with an individual and w...

2008-03-11T14:49:00.000-04:00

@fitcat: I prefer dealing with an individual and will go to great lenghts to rent from one such as SGM rather than deal with a faceless corporation. I live in a four-flat building, and my landlord is my upstairs neighbor. It's great. I am thankful that there are many places to rent in the US that require dealings with an individual. By the way, SGM, I no longer have a lease (my landlord likes and

If I were the tenant and because the market is sof...

2008-03-10T20:49:00.000-04:00

If I were the tenant and because the market is soft, I'd ask you for a 2 year lease at $1000. Then I'd say I am signing a 2 year lease and I've been great.

Hope she takes you up with the raise in rent, but if not keep her anyway even if she doesn't want to pay the rent increase.

Great idea, 2 options. A good tenant is hard to co...

2008-03-10T19:31:00.000-04:00

Great idea, 2 options. A good tenant is hard to come by, if you can keep her, great.

@fitcat: Basically, I choose to manage my property...

2008-03-10T18:30:00.000-04:00

@fitcat: Basically, I choose to manage my property myself so I don't have to pay a management company. Since I only have 1 rental property, it doesn't take up too much of my time. If I had multiple properties, I probably would have someone manage it for me. Most property management companies charge about 5-10% of the montly rent.

Just a cultural sort of question here, as an Austr...

2008-03-10T18:21:00.000-04:00

Just a cultural sort of question here, as an Australian reader iut struck me strange that you deal directly with your tenant (drafting the lease, picking up the rent, dealing or the case may be not dealing with lock outs).

Is this standard in the American rental market? I ask only because it is exceptionally rare here for someone to deal directly with their landlord or tenant. Normally

What a fantastic idea. You certainly do not want t...

2008-03-10T07:28:00.000-04:00

What a fantastic idea. You certainly do not want to risk losing your tennant - I know when my landlord hiked up my rent I started lookingf or a new place almost immediately.