Passive Impact: Real Estate Investing & Special Needs Housing
Welcome to "Passive Impact: Real Estate Investing & Special Needs Housing," where we explore how real estate investment can generate passive income while making a positive difference. Join host Sarah and Johnathon as they share strategies, success stories, and opportunities for investors looking to create financial stability and meaningful community impact. Also, Understand how you as a Real Estate investor make a positive difference in someone's life through Special Needs Housing for Adults with mild disabilities.
Passive Impact: Real Estate Investing & Special Needs Housing
The Problem Tenant Chronicles Vol 1 Episode 5
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What if your rental property became a battleground for safety and sanity? Unravel the complexities of property management as we dissect real-life scenarios faced by landlords. Our latest episode of the Problem Tenant Chronicles kicks off with a chilling account from Jake in Ohio, who finds himself threatened by a tenant, raising vital questions about personal safety and preventive strategies. We explore essential landlord practices, including thorough tenant screening and clear lease agreements, that can act as safeguards against confronting crisis situations.
We then turn to Alicia from California, whose tenant seems to wield maintenance requests like confetti. Balancing responsiveness with legal protection, we offer practical insights into managing relentless maintenance demands. From verifying reported issues to documenting each step meticulously, this episode equips landlords with the tools to navigate these challenging scenarios skillfully. Whether dealing with violent threats or a barrage of repair requests, our conversation provides actionable advice to maintain control and peace of mind in property management.
All right, everybody. Welcome back to the Problem. Tenant Chronicles.
Speaker 2Yeah, it's Wednesday, it is.
Speaker 1Which means we're back.
Speaker 2Back in the saddle again.
Speaker 1With another deep dive, and you know it.
Speaker 2Here we are.
Speaker 1Today we are talking about the questions that you guys have sent to us.
Speaker 2Absolutely Lots of great questions coming in.
Speaker 1Really good questions.
Speaker 2Really interesting. Yeah, what do you?
Speaker 1think Makes you think about things of things. And before we get started, I do want to give a shout out to our sponsors over at yes lovers and associates, property rentals. Love these guys. They're the experts they are when it comes to special needs housing absolutely and you know they offer free workshops. I love that they do free workshops if you guys want to get in touch with them, yeah, you can give them a call at 901 445 8148 that's the way to do it. Or visit them online. All right Flowersandassociatesbookingcom.
Speaker 2All right, so are we ready to jump in?
Speaker 1I think we are ready to jump in.
Speaker 2I'm excited, let's do it.
Speaker 1We had a question from Jake from Ohio. Oh yeah, Jake, and this is a kind of a.
Speaker 2This is a heavy one.
Speaker 1Scary one, I'm not going to lie.
Speaker 2Yeah.
Speaker 1He's talking about a tenant who is threatening him, oh, with physical harm.
Speaker 2Yeah, so this is really serious. Obviously, we want to make sure everyone's safe, right, and the first thing is like, when you're in that moment, yeah, if you feel threatened, you know, don't wait, call 911 immediately. Right, like that's the priority right.
Speaker 1Safety first.
Speaker 2Safety first.
Speaker 1But I'm wondering, like what are some of the things that landlords can do to kind of prevent situations?
Speaker 2Right, well, that's a great question.
Speaker 1Like that from happening.
Speaker 2Yeah, Because you know it's like you don't want to get to that point where you're feeling threatened and unsafe. Yeah, One of the biggest things is tenant screening. You know, really thorough background checks. That's your first line of defense.
Speaker 1Yeah.
Speaker 2And a lot of times those background checks can actually reveal past evictions that are related to violence.
Speaker 1Really.
Speaker 2So that's a huge red flag.
Speaker 1I never thought about that.
Speaker 2Yeah, it's something to look out for and you know, contacting previous landlords, that's gold right there.
Speaker 1Yeah.
Speaker 2They can give you really valuable insights into a potential tenant's behavior. Yeah, that makes sense, and then you know. When you're signing the lease, make sure you outline very clearly the consequences of any violent behavior, Right Including immediate eviction, Like that needs to be crystal clear.
Speaker 1Okay, so it's like you're kind of setting the ground rules from the start. Exactly Okay, all right.
Speaker 2Yeah, lay down the law.
Speaker 1Well, let's switch gears a little bit, because we got another question.
Speaker 2Right.
Speaker 1And this one is from Alicia, from California.
Speaker 2All right, alicia, what do you got for us?
Speaker 1And she's dealing with a tenant.
Speaker 2Uh-oh.
Speaker 1Who just seems to have a maintenance request.
Speaker 2Oh boy For everything, it's never ending right.
Speaker 1It's like every week she's getting something else.
Speaker 2The maintenance requests just keep on coming. Yeah, yeah, you know it's tricky because you want to be responsive, right. You want to be a good landlord. You want to be a good landlord, but you also have to protect yourself legally, exactly. So what I always recommend is, when a tenant reports an issue, respond promptly and in writing, acknowledging their concern Right, but this is the crucial part, alicia, you got to verify the issue yourself.
Speaker 1Okay.
Speaker 2Don't just take their word for it. Go see it for yourself.
Speaker 1So I'm actually going over there and I'm looking at it. You got it Okay.
Speaker 2Take pictures, take detailed notes. This is going to protect you from any potential fraudulent claims.
Speaker 1Well, that's a good idea.
Speaker 2Yeah, you know, sometimes you get those tenants that are a little.
Speaker 1Trying to work the system.
Speaker 2Trying to work the system a little bit yeah.
Speaker 1Okay.
Speaker 2So if it's a legitimate repair.
Speaker 1Yeah.
Speaker 2You get it done.
Speaker 1Get it done.
Speaker 2Within the timeframe.
Speaker 1Yeah.
Speaker 2Outlined in your lease and, of course, according to your state laws, of course. But if it's not, if it's not a legitimate repair yeah. Document why it's not a repair Right and communicate that clearly to the tenant.
Speaker 1Okay, so everybody's on the same page, so documentation is really important.
Speaker 2Documentation is key.
Speaker 1Okay.
Speaker 2It's your best friend in these situations.
Speaker 1All right. Well, speaking of documentation, we have another question, that is Bring it on. It's a little bit of a nightmare.
Speaker 2All right.
Speaker 1This comes from Marcus in Texas.
Speaker 2All right, Marcus.
Speaker 1And he is dealing with a tenant whose guests are constantly parking.
Speaker 2Oh no.
Speaker 1In restricted areas.
Speaker 2The parking wars the parking wars are real. They are very real.
Speaker 1So what is he supposed to do about that?
Speaker 2Yeah, you know, it's all about clear communication and consistent enforcement. Marcus.
Speaker 1Okay.
Speaker 2It all starts with a detailed parking policy in your lease.
Speaker 1Okay.
Speaker 2Spell out exactly where guests can and cannot park.
Speaker 1All right, so we're really specific.
Speaker 2You got to be super specific. Okay, no ambiguity whatsoever. All right and then when the issue arises, Inevitably it will. It always does. You start with a friendly written reminder.
Speaker 1Okay, just a little reminder.
Speaker 2Just a heads up, remember this is where you can park, this is where you can't park. But if it persists, if they keep parking in the wrong spot, you issue a formal warning referencing the lease and stating that continued violation will result in towing at the owner's expense.
Speaker 1Okay, so we're getting serious now. Now we're getting serious, oh.
Speaker 2And, of course, make sure you're following all local towing regulations to the letter.
Speaker 1So you're not getting yourself in trouble.
Speaker 2Exactly, don't want to create more problems All right, so clear signage Clear signage.
Speaker 1Consistent enforcement.
Speaker 2Consistent enforcement.
Speaker 1That's what we're learning.
Speaker 2That's the name of the game, okay.
Speaker 1Well, we have a question here.
Speaker 2Hit me.
Speaker 1That I think every landlord, oh boy Breads. This is the one we all hate. This is it. Hey, this is the one Lay it on me. Security deposit disputes. Bella from New York.
Speaker 2Sucker Bella.
Speaker 1Wants to know how to avoid these battles.
Speaker 2Oh, bella, I feel your pain, I really do.
Speaker 1Right.
Speaker 2This can be such a headache.
Speaker 1Yeah.
Speaker 2But listen, meticulous documentation is your saving grace here.
Speaker 1Okay. So before the tenant moves in, take dated photos and videos of every single nook and cranny Of the whole place. The whole place. Okay, I'm talking everything, everything. Use a checklist. Note the condition of absolutely everything.
Speaker 2Okay.
Speaker 1And then, when the tenant moves out, you do the exact same thing. You compare the before and after. Before and after. Exactly Okay, and if there are any deductions, you provide a detailed itemized list with corresponding photos. Receipts the whole nine yards.
Speaker 2So we're really proving.
Speaker 1You're proving it.
Speaker 2That this damage was done.
Speaker 1This is what it looked like before. This is what it looks like now.
Speaker 2Right.
Speaker 1Here's the proof.
Speaker 2And we're not talking about normal wear and tear right.
Speaker 1Exactly. You can only deduct for damages beyond normal wear and tear Right, so make sure you're clear on your state's definition of what constitutes normal wear and tear.
Speaker 2Yeah, that's important?
Speaker 1Yeah, because it varies from state to state.
Speaker 2Right Well.
Speaker 1You got one more for me.
Speaker 2I do, I do. All right, let's do it.
Speaker 1This one comes from Ethan in Florida.
Speaker 2All right.
Speaker 1And he's wondering what happens when a tenant refuses to sign, oh boy, a lease renewal.
Speaker 2That's a tricky one.
Speaker 1What are his options?
Speaker 2Yeah, so, ethan, this really depends on the type of lease you have.
Speaker 1Okay.
Speaker 2If it's a fixed term lease, you're generally not obligated to offer a renewal, unless local laws say otherwise. Right you always want to check those local laws.
Speaker 1Okay.
Speaker 2However, you need to provide a written non-renewal notice within the legally required time frame, which is typically 30 to 60 days before the lease expires.
Speaker 1So we're giving them plenty of notice, plenty of notice, okay.
Speaker 2So what happens if they just stay put?
Speaker 1That's what I was wondering.
Speaker 2After the lease ends. That's when they become what's called a holdover tenant.
Speaker 1A holdover tenant.
Speaker 2Basically, they're occupying the property without a valid lease agreement. Oh boy, yeah, this can get legally tricky.
Speaker 1Okay.
Speaker 2Each state has specific procedures for handling holdover tenants, often involving formal eviction notices and court proceedings.
Speaker 1Oh, wow.
Speaker 2Yeah, so if you're dealing with a holdover tenant, it's best to consult with a lawyer.
Speaker 1Yeah, get some help.
Speaker 2Get some legal guidance.
Speaker 1All right, well, I think we have officially covered. We did it All of the questions.
Speaker 2We tackled them all.
Speaker 1That were sent to us Some tough ones today. The really good ones. Yeah, a lot to think about, but you know, it just goes to show that being a successful landlord is not easy.
Speaker 2It's not for the faint of heart.
Speaker 1It's not.
Speaker 2It's a lot of responsibility.
Speaker 1It's a lot of responsibility.
Speaker 2It's rewarding, though.
Speaker 1It is, it is.
Speaker 2It can be very rewarding.
Speaker 1I can know what you're doing.
Speaker 2You've got to know what you're doing Absolutely, and you've got to know your rights and responsibilities. Don't stay informed as a landlord.
Speaker 1Absolutely.
Speaker 2Yeah, I think that's a good.
Speaker 1That's a good takeaway.
Speaker 2Takeaway knowledge is power Knowledge is power In this business for sure.
Speaker 1Well, that wraps up another Problem Tenant Chronicles. Deep, dive, dive.
Speaker 2We made it we made it until next time until next time.
Speaker 1Make sure, you guys stay tuned keep those questions coming and keep those questions coming. We'll be back we're here to help next wednesday with another deep dive see you then see you then.
Speaker 2Bye, everybody, bye.
