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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is OP: really that bad? We are NOT in DC - I would never do this in DC.  It's a very landlord-friendly red state.  I'm in a college town with an abysmal rental market for professionals, with a small house in a very desirable neighborhood/good school district.

Y'all are scaring me[/quote]

No. And I’m a landlord in DC.

The most important thing is to screen your tenants thoroughly. Meet them and require an application (including income and rental history) and a small fee (shows interest/they’re not wasting your time). Full background checks, credit checks, require first month’s rent and deposit, etc etc. Look at the law in your state on what you may request and consider; every state/city is different.

Make updates/small improvements to your place BEFORE a tenant moves in. These are things like touch up painting, replacing light bulbs, considering replacing any appliance that seems like it’ll go soon, etc. It is easier to do all that without working around a tenant. And don’t cheap out; it’s better to do these things now instead of getting a call at 11pm that the fridge broke.

Know that stuff will break and that’s okay. Don’t get too attached. It’s a rental now. But treat it and your tenants with respect— fix things ASAP, keep big ticket items serviced regularly, and keep in touch with the tenants (but not too much). Don’t assume tenants (esp if they’re younger) to know anything about home maintenance. If you expect some, discuss and put it in the lease. Some tenants literally will not figure out how to replace a lightbulb even if one is provided for them, so have a plan for things like that in advance. This includes things like gutters etc. Deferred maintenance can lead to big problems like leaks so don’t just “forget” about your rental. Have someone on standby who you can call and send over about little and big home maintenance issues.

Price your place appropriately. Look at comps in the area and try to match them. In a good market, you should get interest within a few weeks; if you’re not, it’s either a dead time (what that means depends on the place, but generally mid-summer or mid-winter) or it’s too pricey.

Also, I’ve never found a property manager I like, fwiw. Some people really rely on them. But often they take quite a bit off the top and don’t earn it. [/quote]

A fee is a sign of a seriously sketchy landlord... you may not be one, but you're just asking for trouble w/that... the kind of people you're going to attract are not good.[/quote]

Nope. The opposite. Which is why the vast majority of any kind of landlord (small or corporate) requires a small application fee.[/quote]

No, this is a literal red flag for scams. Don't pay fees to sketchy landlords.[/quote]

No. The application + fee happens after a potential tenant sees the place and meets either the landlord or their representation. An application fee is so much the norm that DC has specific statutory provisions on how much a landlord can charge for one. A typical fee is about $30-$50, and it's a huge red flag for any landlord if someone cannot come up with that amount.

There are obviously tons of real estate scams, which is a separate issue. No one should ever send cash to a person they've never met for a place they haven't seen-- particularly if the fee is something crazy like $500.

But overall, a fairly small application fee is the norm, and has been for decades-- for good reason.  
[/quote]

nope. maybe in tenements, but not in normal situations. [/quote]

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