Fries with that (by Jason [VA]) Mar 19, 2023 9:20 PM
Fries with that (by DJ [VA]) Mar 19, 2023 9:40 PM
Fries with that (by BRAD 20,000 [IN]) Mar 19, 2023 10:19 PM
Fries with that (by small potatoes [NY]) Mar 20, 2023 12:56 AM
Fries with that (by Rick [IN]) Mar 20, 2023 5:31 AM
Fries with that (by Ray-N-Pa [PA]) Mar 20, 2023 7:53 AM
Fries with that (by S i d [MO]) Mar 20, 2023 8:59 AM
Fries with that (by Vee [OH]) Mar 20, 2023 8:59 AM
Fries with that (by LisaFL [FL]) Mar 20, 2023 9:15 AM
Fries with that (by myob [GA]) Mar 20, 2023 9:18 AM
Fries with that (by WMH [NC]) Mar 20, 2023 10:00 AM
Fries with that (by Mapleaf18 [NY]) Mar 20, 2023 7:16 PM
Fries with that (by Landlord ofthe Flies [TX]) Mar 20, 2023 7:21 PM
Fries with that (by Hoosier [IN]) Mar 20, 2023 9:20 PM
Fries with that (by Jason [VA]) Posted on: Mar 19, 2023 9:20 PM Message:
On my application, I have a section for "Optional Amenities"
So far I have the following:
+$49/mo - Washer/dryer
+$25/mo - Ceiling fan for primary bedroom
But with the latest thread about garbage disposals, i'm going to add that as an optional amenity for an additional $25/mo now as well.
Any time I renovate a kitchen, I'll pre-wire it for a garbage disposal, so the hard part is already done.
Now what other "Fries" to add? --71.63.xx.xx |
Fries with that (by DJ [VA]) Posted on: Mar 19, 2023 9:40 PM Message:
Closet organizer
Paint an "accent wall" - or use removable wallpaper
Garden bed
Lawn care --68.229.xxx.xxx |
Fries with that (by BRAD 20,000 [IN]) Posted on: Mar 19, 2023 10:19 PM Message:
Jason,
Good thinking! I will add these to my app. They are already on the lease checklist but pre-selling on the app is a GREAT idea!
Backyard shed $35/mo The large Rubbermaid shed kit is $1000 and goes together in 2 hours once the dirt is level. 28 month payback plus easier to rent the home.
Detached garage. $50-100. Sec8 will not pay a penny extra for a garage so I rent the HOUSE on Sec8, not the detached garage, then rent it separately to the Sec8 res.
SEPTIC FEE monthly (they would have to pay sewer bills in town! I just say it's the sewer bill and they understand.)
Simplisafe $120? new. No wifi needed.
Ring doorbell, alarm, and cameras - needs wifi.
Just remove the BRAIN and leave up the sensors and cameras for the next res if the new res does not want it.
The local hedge fund houses charge an extra $25 per month if the home has SMART features, not optional fee - Nest thermostat, Ring...
"Do you have appliances or do you need to rent ours?" has made me A LOT of cash!! $35 per month each for stove, ref, washer, dryer, shed, animal... Recent single guy took 4 appliances and 2 dogs = $35 x 6 = $210/mo, = $2520 cash money EXTRA per year.
Fan and disp - you will have to remove if they don't take it. Those amenities help me get the home rented.
2 hour housekeeper twice a month.
Yard maint and mowing.
My biggest, easiest , and most profitable is PayDayPlan Rent. Weekly or bi-weekly. People LOVE it! Advertise it.
Find what people want and let them pay you for it!
BRAD
--73.103.xxx.xxx |
Fries with that (by small potatoes [NY]) Posted on: Mar 20, 2023 12:56 AM Message:
Wait, why would you install a garbage disposal when the hive mind says they are a headache? I feel like charging for a ceiling fan is low class. Nice anniversary upgrade perhaps, but suppose they renew the lease you would keep billing that fee? and then they say no thankyou anymore and you would remove it?
Brad, in my area owner pays G/S/W in the taxes, fortunately water is still a flat rate. and I'm not sure you would survive a challenge in court about renting a garage to a S8 tenant. I do like the idea of ring doorbell or simplisafe etc. How much is a housekeeper by you and how long is that service call and what does it cover? I think around here a 2 hr cleaning would be $200 these days and deep cleaning is more, cause not everything gets clean in 2 hrs. --67.240.xx.xx |
Fries with that (by Rick [IN]) Posted on: Mar 20, 2023 5:31 AM Message:
Brad, would you elaborate on your "... PayDayPlan Rent. Weekly or bi-weekly. People LOVE it!..."
Thanks. --75.107.xxx.xxx |
Fries with that (by Ray-N-Pa [PA]) Posted on: Mar 20, 2023 7:53 AM Message:
Jason I offer RTO washer and driers at $50/mo each. I then extend the one year lease into a 18 months. So I make a little money on the washer or drier, but at the end of the 18 months - the rent stays the same as before. I factor that into my rent increase.
Tenants are happy that they know what to expect in the future. I am tickled pink that I know a 10% rent increase is on the way without worrying too much about the local market rental rates. --24.101.xxx.xxx |
Fries with that (by S i d [MO]) Posted on: Mar 20, 2023 8:59 AM Message:
Keep in mind that if you offer "fries with that", people expect their fries hot and crispy. Soggy or cold fries are not acceptable.
What's the metaphor here?
If/when the item fails, they want it fixed NOW. Not next week. Not in 3 days... NOW. Let's look at an example....
Fridge dies: better have a shiny new one ready to go in today. Might be responsible for food spoilage when they fail to notify you in a timely manner. Surely they had $500 worth of Omaha steaks in the freezer.
So how does this work out?
Better have a good, reliable, skilled appliance repair person on speed dial who is available 7 days a week to support this offering. Not saying you can't make extra money this way, but when people pay extra, they expect extra. Be prepared to provide not only the sale, but service after the sale. If you have someone who can do that, then party on!
Have a clear policy on what happens and any liability you owe to the tenant if they are inconvenienced or suffer any loss, such as the aforementioned food spoiled. Appliance renters/dealers (ye olde Rent-A-Center), have contracts that almost rival my lease in length, and the print is usually pretty small.
Bottom line: renting appliances probably more hassle than one first thinks, but if you're willing to figure it out, I'm sure you can make bank being a Rent-A-Center.
As for me, I want MORE freedom, not less. Having to keep up with failing appliances strikes me as very labor intensive and not something I want to mess with unless I had an assistant to farm that job out to.
The Pay Day rental plan offers freedom. It's free, runs automatically, never fails, and requires only a few extra seconds to set up in Buildium property management software, so it's a no-brainer win for me!
For Rick... here's how mine works, very similar to Brad's.
People can't budget, and when they get behind a month on rent it's rare they will ever recover. Rather tahn wait for the dreaded, "I'm going to be late this month" call or text, you set them up to where they CAN'T be late by timing their rent payment to their paycheck. I have three options for paying rent:
1) Standard monthly, due on the 1st. Nothing special.
2) Bi-monthly, paying on the 1st and the 15th. The cost is the monthly rent divided in half, plus $25 per payment for the convenience.
3) Bi-weekly, paying every other Friday (once every 14 calendar days). The cost is the monthly rent divided in half, round up to the nearest $5. Smart math nerds realize that 26 half payments per year (52 weeks per year = 26 bi weekly payments), equals 13 full months of rent, so you make 8.3% above standard monthly rent.
Be sure to spell all this out in your lease in language a 5th grader can understand, or they'll challenge you, "I already paid 2 times this month".... uh-huh, but you aren't paying monthly rent in two installments: you're paying 14 days of rent per payment.
The way you win is you get paid the same day the tenant gets paid, and you make extra for allowing the accomodation.
--184.4.xx.xxx |
Fries with that (by Vee [OH]) Posted on: Mar 20, 2023 8:59 AM Message:
I have friends who rent sec8 in my area, none get the garage or appliances - garage is storage for a sheet of plywood with odds and ends - keep it cluttered so tenant sees no room for toys-bikes, hehehe.... --76.190.xxx.xxx |
Fries with that (by LisaFL [FL]) Posted on: Mar 20, 2023 9:15 AM Message:
I’m not a fan of this idea. But if I had to add a few things that seem to be desirable they would be an upcharge for a garage door opener, and smooth to stove v coil top.
I’m in Florida, I already provide ceiling fans. No way do I want the hassle of having to repair or replace washers and dryers for any price. I did/do provide garbage disposals but will not anymore. I might consider doing so for an upcharge.
I also provide privacy fences. If I had it to do over again those would be gone as well. --24.96.xx.xxx |
Fries with that (by myob [GA]) Posted on: Mar 20, 2023 9:18 AM Message:
I don't get why some are creating this extra work for mere pennies.
We have ceiling fans in all bd rms. we supply stove and dishwasher. No trash eaters.
KISS!! but get max rental profit. --108.239.xx.xx |
Fries with that (by WMH [NC]) Posted on: Mar 20, 2023 10:00 AM Message:
We provide ceiling fans in all rooms.
We allow people to pay rent in any increment they choose as long as it is all paid by the due date. No extra charge. No late rents either except for one couple who can't seem to get with the program. But they always pay before they are legally late so I'm not ready to kick them out yet.
We DO NOT provide garbage disposals because everything is on septic.
We provide appliances supplied by our friendly used appliance guy. Somethings breaks? Rip and replace...with another used appliance. --50.82.xxx.xxx |
Fries with that (by Mapleaf18 [NY]) Posted on: Mar 20, 2023 7:16 PM Message:
According to Landlord and Real Estate Investing News, tenants are catching on to the extra fees and are labeling them "junk fees." Legislators are hearing their complaints in BLUE cities/states and are writing legislation against this business model. --64.246.xxx.xx |
Fries with that (by Landlord ofthe Flies [TX]) Posted on: Mar 20, 2023 7:21 PM Message:
When adding the option for lawn care service, be sure to mention that if the tenant fails to keep the yard maintained, they automatically get and pay for yard service. --108.69.xxx.xxx |
Fries with that (by Hoosier [IN]) Posted on: Mar 20, 2023 9:20 PM Message:
Depending on the "quality" of your house...
1) I've had tenants ask for water softeners...I charged $38/mo...call your local Culligan store and ask them for a monthly rental fee and then undercut them by $5. Make sure your lease states that they must keep salt in it or if you find it low on salt when they move you charge $35 to refill it.
2) Fenced yard...we did this twice and paid half. It helped a lot with resale when we finally sold. I know a fence sounds expensive and you might think a tenant can't come up with that much cash, but we had two houses where the neighbors already had fences up so all we needed was two short sections at the front from their fences to our house...very affordable. We had them pay half but another option would be to add to the rent.
3) Added insulation to save on heat/cooling bills. We offered this as an upgrade option for good tenants that would renew for another year at a higher rent. Again, this helped us get a great review from a home inspector at sale...as he said this house had the best insulation he'd seen in a house of that age.
4) Wand sprayer in the shower...this is an easy job so you can do it yourself.
5) LED bulbs in some fixtures...saves energy
6) Medicine cabinet (this will depend on the property)
7) Added shelving in closets, above washer/dryer, in pantry, etc.
--99.92.xxx.xxx |
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