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Old 12-30-2015, 09:30 PM   #21
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I am really surprised that a bunch business owners would be so surprised about having someone submit to a drug test. It seems from the post that some of you have emotional feelings about it. it is about protecting yourself and your assets. If you have a tenant that is using, selling, or producing drugs on your property you can be held liable for any incidents that occur as a result if you have not made any effort in your contract to mitigate such an occurrence. Your property can be deemed a common nuisance and seized. These types of tenants are as common in upscale housing as they are in run down turds. I would strongly urge any of you that have rental properties to consult with your attorney about this.
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Old 12-30-2015, 09:48 PM   #22
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My properties came with tenants that were all already long term so I haven't been through that school of hard knocks yet. The business side of me agrees wholeheartedly about doing everything you can to protect your assets. It does come down to being more personal for me when it comes to drug testing. I value freedom and privacy above business so adding a random drug screening would probably nor be something I would incorporate.

My lease agreement does have a section about illegal activity being cause for immediate lease termination. You can start going down a rabbit hole if you believe that every contingency can be accounted for when allowing someone to take residence in your property. I can dictate no guns fired on the property other than in a life or death situation. But, wouldn't I be even smarter to say no guns period and then write a clause for periodic unannounced property searches? You see where I am going. People have a right to live with a certain degree of privacy.

Side note: I also prefer a little higher end property with higher rents and more financially qualified tenants. My duplexes were right around $200k each. My brother-in-law won't buy a unit for more than $20k. Different business models that can both work successfully and have different risks and rewards.
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Old 12-30-2015, 09:57 PM   #23
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just wondering do they drug test when you rent a hotel room in your area?
or when you rent a car?

is the car rental company going to lose the car because someone renting it has drugs? Or the hotel ?

most good lease will require the renter to obey local laws ( not run a restaurant, car repair shop, ect ) out of a residential place and that relives you of liability but drug testing ?

no way would i ever sigh or agree to a drug test to rent a house, apt or even my warehouse

i would think your causing more liability requiring a drug test

then your taking responsibility that a Tenants don't use drugs. So what if he has a injury and the doc gives him painkillers and now he fails the drug test

now it's your responsibility to verify his doc note, so now you have the legal right to a Tenants medical records? seems personal to me that he would have to show you a doc's note just to rent

what about kids under 21, do you drug test them too?
at what age is the cut off? 16? 18? 21? could you legally require a drug test on a minor ?

Can you even require a adult to ? if their 80 year old grandmother is living there does she have to have a doc's note too? too many problems here

With the fair housing laws can you refuse to rent to someone that won't take a test?

myself i believe in my rights and if a landlord refused to rent to me because of not taking a drug test or me having to give a doc's note i would be talking to a lawyer myself, defend my right

just wonder, not trying to be a a-hole just trying to understand this?
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Old 12-30-2015, 10:03 PM   #24
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Quote:
Originally Posted by PressurePros View Post
My properties came with tenants that were all already long term so I haven't been through that school of hard knocks yet. The business side of me agrees wholeheartedly about doing everything you can to protect your assets. It does come down to being more personal for me when it comes to drug testing. I value freedom and privacy above business so adding a random drug screening would probably nor be something I would incorporate.

My lease agreement does have a section about illegal activity being cause for immediate lease termination. You can start going down a rabbit hole if you believe that every contingency can be accounted for when allowing someone to take residence in your property. I can dictate no guns fired on the property other than in a life or death situation. But, wouldn't I be even smarter to say no guns period and then write a clause for periodic unannounced property searches? You see where I am going. People have a right to live with a certain degree of privacy.

Side note: I also prefer a little higher end property with higher rents and more financially qualified tenants. My duplexes were right around $200k each. My brother-in-law won't buy a unit for more than $20k. Different business models that can both work successfully and have different risks and rewards.
What should be really scary here is how the property owner may be in danger of forfeiture or seizure because of the actions of the tenant.

How did we get to this point?
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Last edited by slinger58; 12-30-2015 at 10:06 PM..
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Old 12-31-2015, 09:28 AM   #25
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Other than commercial properties, the only rental I ever had/have is the house in the Keys. More of a vacation rental with the same families since the 90's. $1650.00 per week. I use a retired couple for cleaning and minor general maintenance. Luckily they're all responsible people. Sure there's been some minor damages over the years and I've never had to put extra charges against them.

I had good luck with my commercial properties, so much so that I've considered looking into them again. Got my son started with a couple this past year. Mainly to teach him something about investing.
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Old 12-31-2015, 06:15 PM   #26
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Quote:
Originally Posted by PressurePros View Post
My properties came with tenants that were all already long term so I haven't been through that school of hard knocks yet. The business side of me agrees wholeheartedly about doing everything you can to protect your assets. It does come down to being more personal for me when it comes to drug testing. I value freedom and privacy above business so adding a random drug screening would probably nor be something I would incorporate.

My lease agreement does have a section about illegal activity being cause for immediate lease termination. You can start going down a rabbit hole if you believe that every contingency can be accounted for when allowing someone to take residence in your property. I can dictate no guns fired on the property other than in a life or death situation. But, wouldn't I be even smarter to say no guns period and then write a clause for periodic unannounced property searches? You see where I am going. People have a right to live with a certain degree of privacy.

Side note: I also prefer a little higher end property with higher rents and more financially qualified tenants. My duplexes were right around $200k each. My brother-in-law won't buy a unit for more than $20k. Different business models that can both work successfully and have different risks and rewards.

Hey Ken can any reason you chose multi family over houses or condos?

thanks
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Old 01-01-2016, 01:40 AM   #27
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Quote:
Originally Posted by Dave Mac View Post
Hey Ken can any reason you chose multi family over houses or condos?

thanks
Dave, easier to rent and you rarely have to worry about total no occupancy. (ie one person moves out you still have the other tenant paying rent). At the time I bought, in the economic slump, the CAP rates were better than for single family homes in the same area.

As my first foray into investment it seemed easier to manage 4 units spread over two duplexes than 4 sfh's. Two roofs, two lawns, etc vs four. Its also usually less expensive to hire property managers from a percentage standpoint on a multi family building than a sfh.

Downside is slightly lower appreciation and harder to sell. We also have the beach house which we rent out but that is transient and seasonal so I don't consider that the same type of investment. From here, I know I want more properties and am not sure which way I will lean.
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Old 01-01-2016, 07:57 PM   #28
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Quote:
Originally Posted by Wolfgang View Post
Other than commercial properties, the only rental I ever had/have is the house in the Keys. More of a vacation rental with the same families since the 90's. $1650.00 per week. I use a retired couple for cleaning and minor general maintenance. Luckily they're all responsible people. Sure there's been some minor damages over the years and I've never had to put extra charges against them.

I had good luck with my commercial properties, so much so that I've considered looking into them again. Got my son started with a couple this past year. Mainly to teach him something about investing.
Hey wolf do you use a management company for your properties?
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Old 01-02-2016, 08:41 AM   #29
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Quote:
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Hey wolf do you use a management company for your properties?
No. Same families since the early 90's. Kids have taken over from parents in some cases. I am on my second couple for the maintenance. I think they enjoy the extra income. It stays booked 49 weeks out of the year. Since 91, I've only had 3 cancellations, (due to emergencies, etc.), and have used that time for some major maintenance. Otherwise, the major stuff is done during the 3 weeks it is open. A retired friend of mine takes care of that. He considers it his vacations. I buy materials and supplies, he stays for free.

A few years ago, Florida changed some laws around trying to find new ways to collect revenue. They wanted to impose a "hotel" tax on vacation rentals. Not sure how I got out of it, or if I was grand-fathered in. Thinking it had something to do with my shortest bookings being 2 weeks.
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