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I too question why you would rent out one place and have to rent another one yourself to live in, I think you are doing it bass-ackwards.
Being a landlord is not easy or cheap, and you can get into financial trouble very quickly if something goes wrong, like a tenant who stops paying, or some major expense. Even experienced people with money behind them often incur problems with rentals, so for someone like you, who is evidently on a budget, it can be devastating. Not everyone should be a landlord.
My suggestion is to compromise with her on the reduction, just to appease her, then give her notice that when the lease is up you intend on moving into that place yourself........and I WOULD move back there. You will live in a nice home and I bet when you figure out the finances you will be better off.
I too question why you would rent out one place and have to rent another one yourself to live in, I think you are doing it bass-ackwards.
Being a landlord is not easy or cheap, and you can get into financial trouble very quickly if something goes wrong, like a tenant who stops paying, or some major expense. Even experienced people with money behind them often incur problems with rentals, so for someone like you, who is evidently on a budget, it can be devastating. Not everyone should be a landlord.
My suggestion is to compromise with her on the reduction, just to appease her, then give her notice that when the lease is up you intend on moving into that place yourself........and I WOULD move back there. You will live in a nice home and I bet when you figure out the finances you are better off.
Don
Thanks, Don.
I am definitely considering it, but I really don't like driving. I live 1.4 miles from where I work now. It takes me 20 minutes to leisurely stroll there.
I had to rent out a place I owned because the commute was killing me. I rented a place in town. Was the right decision at the time. House was in Sumas, WA and job was in Bellingham. 45 minutes on a good day, and forget about driving it in snow and ice with a small child. Why you are doing this is your business.
To your question: The answer to her would be "no." I'm assuming your lease doesn't specify how big a washer/dryer is included. Since you know she's leaving anyway, no need to shmooze her to keep her.
Your offer of $25 off is more than necessary, too. Picture what she would actually have to haul to the laundromat that won't fit into that washer. Maybe her comforter, which probably wouldn't fit into the old one anyway. Everything else should fit fine. She'll just have to do more loads.
How often does someone wash their comforter? Once a month? So, maybe $3.00 total to wash and dry the comforter at the laundromat. She's coming out ahead even at $25/month. At $3.00 to wash and dry a load, $25 is 8 loads of laundry. If she wants to haul everything to the laundromat because she doesn't want to have to wash several small loads, too bad so sad - that's on her.
Her electric/gas bill may have gone up because the smaller washers and dryers do cost more to run, because you have to run them longer and more often. She's probably trying to get you to pay the higher utility bills. Again, nice try, but the answer is no.
$150/month for 6 more months would have practically bought the washer! That's just unreasonable. I guess you can't blame her for trying, but I'm amazed she would. Do you know how many loads that would be at the laundromat at $3.00 to wash and dry one load? 50 loads. Per month.
OP, you're giving her a $25/month rent reduction when she's only paying the area norm for what she's getting and now you say that she's planning on leaving at the end of the lease term in August anyway. Or, since you said "was" planning, was she using the dissatisfaction with the new appliance as a bargaining point for that?
Just because she's a single mother and a teacher and you "feel bad" for her, you'll be out $150 total which you could probably well use yourself. Being a landlord is running a business and best you leave emotion out of it in future so you don't get taken advantage of. Good luck!
RainbowHope: Is she asking for a $150 reduction per month?
Yes.
RainbowHope: Are you charging market value for the apartment now?
Yes. Maybe even slightly below.
RainbowHope: Would you be able to rent it for $1200 if your tenant decided to move?
I feel pretty certain that I could.
Okay. I am a landlord as well. I would not reduce the price by $150/month. That is completely rediculous for your tenant to ask that. I would offer a very small reduction in rent IF you feel the tenant has been good. At the end of the lease term, I would take the opportunity to boost the price of the unit if you are priced low. Give the tenant your increase amount in writing so they have time to move if the new price becomes a deal breaker for them.
I think it depends if you want to keep her as a tenant? Is her plan really to leave at the end of the lease, or just a ploy to get a large decrease in rent?
I have been both a landlord and a tenant. I think her request for 150 off is too much, maybe 25 for the duration of the lease just to keep her appeased.
The size of the appliance isn't your problem. Besides,comforters don't need to be laundered that often.
I didn't buy the extended warranty as I've been advised against it.
As far as pulling out the w/d unit at the end of the lease, that's way more trouble for me than leaving it there and raising the rent for the next lease term. I would have to pay someone to deal with moving it out and putting it somewhere else.
On rentals I always buy the extended warranty. I've used it quite a few times. Got free replacement appliances years later . It's the only time I buy a extended warranty. Simply because I know tenants will be harder on things. But I buy the basics stove dishwasher and sometimes fridges. I would not drop the price at all. It has a W/D. Just because she doesn't like it is not your issue.
After 5 years it's cost of doing business for me. I've written off all the value, got use out if it. If it's broken beyond reoair I just get another. I only had to use the warranty twice. Ironically both times was a clothes washer on the only rental that had one.
Last edited by Electrician4you; 03-07-2015 at 09:33 PM..
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