Comments on: Austin Eviction Aftermath and the Cost of Rental Property Turnover http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/ Austin Real Estate Blog Fri, 11 May 2012 17:13:15 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Steve Crossland http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-17312 Steve Crossland Tue, 08 Jul 2008 14:18:00 +0000 http://crosslandteam.com/?p=435#comment-17312 Jim: Yes, your property manager can rerpesent you for eviction hearings. The judge will not award you travel expenses. Getting to court is your responsibility if you live out of state. The eviction hearing is to determine 1) who has rightful/legal possession of the property and 2) how much is owed in rents. To receive attorney's fees, you actually have to hire an attorney. The court will award you court costs if requestsed at the time the eviction is filed. Steve Jim: Yes, your property manager can rerpesent you for eviction hearings. The judge will not award you travel expenses. Getting to court is your responsibility if you live out of state. The eviction hearing is to determine 1) who has rightful/legal possession of the property and 2) how much is owed in rents. To receive attorney’s fees, you actually have to hire an attorney. The court will award you court costs if requestsed at the time the eviction is filed.

Steve

]]> By: Jim http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-17123 Jim Mon, 07 Jul 2008 18:37:25 +0000 http://crosslandteam.com/?p=435#comment-17123 I'm a first-time landlord and have begun my first eviction process a good 3 months into my first tenants! I live out of state. Am I able to have my folks (as property managers for me) speak on my behalf in court, or do I as the owner have to be there in person. Also, what are the odds that the judge would include my travel expenses when determining what the tenants owe? I’m a first-time landlord and have begun my first eviction process a good 3 months into my first tenants! I live out of state. Am I able to have my folks (as property managers for me) speak on my behalf in court, or do I as the owner have to be there in person. Also, what are the odds that the judge would include my travel expenses when determining what the tenants owe?

]]> By: Steve Crossland http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-7137 Steve Crossland Tue, 13 May 2008 21:07:12 +0000 http://crosslandteam.com/?p=435#comment-7137 Hi Dave: Insurance will cover things that are obvious criminal vandalism of the property. I've had only a few over the years that rose to that level. Insurance will not cover a tenant simply very rough on the property and leaving it trashed and banded up. Virginia: If you join National Tenant Network, you can report your tenant through them. They will already have the eviction because they track and report those. Also, make sure to get the abstract of judgment on the tenant after the appeal period (5 days) ends. That will cause the debt to be picked up through credit bureaus. Steve Hi Dave: Insurance will cover things that are obvious criminal vandalism of the property. I’ve had only a few over the years that rose to that level. Insurance will not cover a tenant simply very rough on the property and leaving it trashed and banded up.

Virginia: If you join National Tenant Network, you can report your tenant through them. They will already have the eviction because they track and report those. Also, make sure to get the abstract of judgment on the tenant after the appeal period (5 days) ends. That will cause the debt to be picked up through credit bureaus.

Steve

]]> By: Virginia http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-7118 Virginia Tue, 13 May 2008 20:05:29 +0000 http://crosslandteam.com/?p=435#comment-7118 I have a couple of rental properties and am going through the eviction process right now. Is there a way to report the unpaid rent and damages for other landlords/prop. managers to see? Has anyone ever collected rent due after a tenant has moved out? I have a couple of rental properties and am going through the eviction process right now. Is there a way to report the unpaid rent and damages for other landlords/prop. managers to see? Has anyone ever collected rent due after a tenant has moved out?

]]> By: Dave http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-3267 Dave Mon, 28 Apr 2008 19:24:56 +0000 http://crosslandteam.com/?p=435#comment-3267 Steve, do you know if a standard homeowners policy for a landlord covers any of these expenses? If not is there additional insurance that can be purchased? -Dave Steve, do you know if a standard homeowners policy for a landlord covers any of these expenses? If not is there additional insurance that can be purchased? -Dave

]]> By: Kristin http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1977 Kristin Tue, 22 Apr 2008 19:23:16 +0000 http://crosslandteam.com/?p=435#comment-1977 Wow. That's really awful. I've never actually read anything from the perspective of a landlord who has gone through this -- you always hear stories from the other side. Sorry you have to deal with this. : / Wow. That’s really awful. I’ve never actually read anything from the perspective of a landlord who has gone through this — you always hear stories from the other side. Sorry you have to deal with this. : /

]]> By: Toyn http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1976 Toyn Tue, 22 Apr 2008 18:34:07 +0000 http://crosslandteam.com/?p=435#comment-1976 We have vacation properties which are a little different. We charge higher rates and expect much lower occupancy (about 30-40%). I budget 2%/year of the total cost of the house for routine maintenance. By my calculation, by saving all that maintenance until after 7 years you actually came out ahead. We have vacation properties which are a little different. We charge higher rates and expect much lower occupancy (about 30-40%). I budget 2%/year of the total cost of the house for routine maintenance. By my calculation, by saving all that maintenance until after 7 years you actually came out ahead.

]]> By: Robert G http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1839 Robert G Mon, 21 Apr 2008 23:12:35 +0000 http://crosslandteam.com/?p=435#comment-1839 Hi Steve and Sllvia Love reading your blog. I have a management co. manage one of my properties and it took the management co. a full month to start eviction and I had to asks where is the rent before she did anything. It took 3months and lots of maintenance to get it back in shape. That was my first rental property and first tenant. All was well for nearly a year till the couple broke up. I'm an out of state owner, luckly I had my realtor to help me get it back in shape and rent it out again. We obviously got rid of the manage co. once the eviction was finalized Do you recommend setting up an LLC for property owners? Hi Steve and Sllvia
Love reading your blog.
I have a management co. manage one of my properties and it took the management co. a full month to start eviction and I had to asks where is the rent before she did anything. It took 3months and lots of maintenance to get it back in shape. That was my first rental property and first tenant. All was well for nearly a year till the couple broke up. I’m an out of state owner, luckly I had my realtor to help me get it back in shape and rent it out again. We obviously got rid of the manage co. once the eviction was finalized

Do you recommend setting up an LLC for property owners?

]]> By: afraid of retaliation http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1797 afraid of retaliation Mon, 21 Apr 2008 19:42:00 +0000 http://crosslandteam.com/?p=435#comment-1797 Why I appreciate your troubles with some renters, I would like to see you cover the importance of being a responsible and honest landlord as well. For example, Windridge Apartments, now known as the Ridge over Barton Creek, has an elevator that has been broken for 16 months. There were no concessions to the tenants, just a letter in the 2nd month warning that rent must still be paid and stating that "extreme efforts" were being made to repair the elevator. It turned out the management had not even contacted the elevator company. There was a lady in her 90's up there who couldn't leave for months while she waited for the repair. These apartments are "professionally managed" by Westdale Mgmt out of California. Why I appreciate your troubles with some renters, I would like to see you cover the importance of being a responsible and honest landlord as well. For example, Windridge Apartments, now known as the Ridge over Barton Creek, has an elevator that has been broken for 16 months. There were no concessions to the tenants, just a letter in the 2nd month warning that rent must still be paid and stating that “extreme efforts” were being made to repair the elevator. It turned out the management had not even contacted the elevator company. There was a lady in her 90′s up there who couldn’t leave for months while she waited for the repair. These apartments are “professionally managed” by Westdale Mgmt out of California.

]]> By: Scott http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1663 Scott Mon, 21 Apr 2008 03:32:09 +0000 http://crosslandteam.com/?p=435#comment-1663 Steve First, I like your redesigned website. Secondly, I don't own rental property. With that said I always appreciate how you are always trying to assist homeowners and rental property owners. It's nice to have such a great resource here in Austin. My realtor is equally as helpful and I make it a point to treat her with a high degree of respect. Finally, I always appreciate your analysis of the real estate market and I hope the new MLS software bugs are being worked out. If you ever need a fire protection engineer send me a e-mail. Steve

First, I like your redesigned website.

Secondly, I don’t own rental property. With that said I always appreciate how you are always trying to assist homeowners and rental property owners. It’s nice to have such a great resource here in Austin. My realtor is equally as helpful and I make it a point to treat her with a high degree of respect.

Finally, I always appreciate your analysis of the real estate market and I hope the new MLS software bugs are being worked out.

If you ever need a fire protection engineer send me a e-mail.

]]> By: Steve Crossland http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1617 Steve Crossland Sun, 20 Apr 2008 17:04:40 +0000 http://crosslandteam.com/?p=435#comment-1617 Hi Stephen, Thanks for you comments. You seem to have realistic expectations about owning rental property. That's really important. You wouldn't believe over the years how many owners we've encountered who seem to believe that they should never incur expenses. Some are luckier than others in the short term, but over time, even the most fortunate landlords will have to spend serious money replacing a roof, replacing HV/AC, paint/carpet, etc. Some actually seem devastated, as if the possibility of an expensive turnover never entered their mind. I know of one investor (not our client) who bought multiple properties (more than 5) in Austin with low down ARM loans a few years ago. They were all lost to foreclosure as he couldn't afford to own them once the turnovers started piling up. This is why we are fairly blunt with our approach to advising anew investors. We want to make sure they know the extent to which owning a rental property can expose you financially. Steve Hi Stephen,

Thanks for you comments. You seem to have realistic expectations about owning rental property. That’s really important.

You wouldn’t believe over the years how many owners we’ve encountered who seem to believe that they should never incur expenses. Some are luckier than others in the short term, but over time, even the most fortunate landlords will have to spend serious money replacing a roof, replacing HV/AC, paint/carpet, etc.

Some actually seem devastated, as if the possibility of an expensive turnover never entered their mind.

I know of one investor (not our client) who bought multiple properties (more than 5) in Austin with low down ARM loans a few years ago. They were all lost to foreclosure as he couldn’t afford to own them once the turnovers started piling up.

This is why we are fairly blunt with our approach to advising anew investors. We want to make sure they know the extent to which owning a rental property can expose you financially.

Steve

]]> By: Stephen L Reed http://crosslandteam.com/blog/2008/04/19/austin-eviction-aftermath-and-the-cost-of-rental-property-turnover/#comment-1614 Stephen L Reed Sun, 20 Apr 2008 16:09:47 +0000 http://crosslandteam.com/?p=435#comment-1614 Hi Steve. Your new site is great and I like your photos. My wife and I own four rental duplex properties in Area 10, South Austin. I just went through a similar experience with a tenant in our first property. We inheritied the tenant when we purchased. Slow payers - numerous late fees and payment arrangements. They were chain smokers and slobs. We finally got fed up after four years and refused to renew the 2007 lease in December. The single mother requested a one-month extension to move out, leaving her drop-out son and his friends in the unit. Meanwhile I knew the property was trashed because they resisted my need to perform routine mainenance and inspection due to the home being 'too messy'. As they were paying the one-month extension week by week, 4 days after the first missed payment I posted a Notice to Vacate. After 24 hours I entered the abandoned property fo find great piles of trash, ruined appliances, holes in all walls, etc. My wife and I had planned a rennovation anyway because rents are strengthening in close-in South Austin and a clean unit justified at least a $50 dollar a month increase. My trash hauler moved out six pick-up loads of trash, including all the carpets and yard junk. Presently we have screened tenants paying on time and the property for the moment is at the normal level of property management effort. My takeaway from your post is (1) to plan on rennovation after problem tenants, setting aside in advance the funds (2) post a Notice to Vacate early in the missed rent payment cycle to optimise the unit's cash flow. Cheers. -Steve Hi Steve. Your new site is great and I like your photos.

My wife and I own four rental duplex properties in Area 10, South Austin. I just went through a similar experience with a tenant in our first property. We inheritied the tenant when we purchased. Slow payers – numerous late fees and payment arrangements. They were chain smokers and slobs. We finally got fed up after four years and refused to renew the 2007 lease in December. The single mother requested a one-month extension to move out, leaving her drop-out son and his friends in the unit. Meanwhile I knew the property was trashed because they resisted my need to perform routine mainenance and inspection due to the home being ‘too messy’. As they were paying the one-month extension week by week, 4 days after the first missed payment I posted a Notice to Vacate. After 24 hours I entered the abandoned property fo find great piles of trash, ruined appliances, holes in all walls, etc.

My wife and I had planned a rennovation anyway because rents are strengthening in close-in South Austin and a clean unit justified at least a $50 dollar a month increase. My trash hauler moved out six pick-up loads of trash, including all the carpets and yard junk. Presently we have screened tenants paying on time and the property for the moment is at the normal level of property management effort.

My takeaway from your post is (1) to plan on rennovation after problem tenants, setting aside in advance the funds (2) post a Notice to Vacate early in the missed rent payment cycle to optimise the unit’s cash flow.

Cheers.
-Steve

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