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Ellen McDonell

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  • Are you a REIA Member?
    Yes
  • Which REIA are you a member of?
    Memphis Investors Group

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  • Please select the region you invest in:
    Southeast
  • Full time or part time investor?
    Full Time

Interests

  • Investing Interests
    Buy & Hold/Landlording
    General RE investing
    Finance/Private Money

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    None of the above

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  1. Frequency and scrutiny. Frequency tells the tenant it won't be easy to hide new additions. Scrutiny will allow you to remove tenants with a spot or two on the wooden floor before the entire floor is damaged (or entire door, or entire woodwork, etc.). If small problems are addressed, repaired and billed to the tenant, they will be a bit more careful down the road. Sometimes we do have to teach tenants what is acceptable.We have started characterize an additional monthly fee as animal rent. Sounds strange, but we have chosen not to use the word pet but animal. The additional amount for our population is very small but I believe it is effective.
  2. I agree that if you want your renters to stay and minimize turnover, you have to allow pets for whatever reason. To stay people have to feel it is their home and pets help make that happen. We have had damage. I believe we will step up our inspections to make sure the damage doesn't compound.
  3. We used to have a number of properties that needed this but have 1031'd them. Now we just have 1 and I would be interested if anyone else has gone to the trouble and expense of dividing out the water (and sewer) and whether or not it is really worth all the efforts. I have always thought it was not.
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