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UTILITIES, APPLIANCES
& PAY TELEPHONES
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PAY TELEPHONES
- If you want problems on your property like break-ins, vagrants,
drugs, etc. just put a pay telephone in front of your building.
Think about it. With the proliferation of cell phones, who would
want or need to use a pay phone? Maybe people who do not want
their conversation traced. People who can't afford any type
of a phone. Pay phones attract problems. If you were to live
on the street, would you rather live near a pay phone or quite
a distance away?
NEVER PUT A PAY TELEPHONE ON YOUR PROPERTY!! If there
is one there when you acquire the property, get rid of it.
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APPLIANCES -
Probably the best course of action if you have older appliances
is to get a Home Warranty Protection plan that covers them.
Otherwise, be prepared to fix them when they breakdown, especially
if you have a good tenant.
We had a tenant once that was retired, single, and on the senior
pro golf tour. Being on tour, he rarely stayed in the three
bedroom condo he rented from us. He always paid his rent early,
and never missed a beat during the previous 3 years. One weekend
he was home and was doing his laundry when the dryer froze up.
We sent out a technician who found 5 socks in the motor mechanism.
The tenant determined that one of those socks was his but the
others were from previous residents. The bill came to $70.00.
The owner refused to pay it, stating that the tenant caused
the repair. The tenant paid for the repair and immediately gave
his notice. He moved and it took us 90 days to get the unit
re-rented. The unit was renting for $850.00 a month. That $70.00
repair, that the owner refused to pay, cost him an excellent
tenant and over $2,500.00 in lost rent.
When you have a good tenant, they rarely ask for much, and they
take care of the place... use your head. Pay for the repairs!
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UTILITIES -
Several of the utilities like trash collection and public sewers
attach themselves to the property, not the person who orders
the service. What does that mean to you. That means that even
if the trash bill is in the tenants name, if they do not pay
for it, it attaches to the property and becomes your responsibility....
be prepared.
Also, you need to keep enough money in your account, especially
when your property is vacant, to cover the necessary utility
bills like water and power. If not, we will have to turn them
off, and then you'll really be upset.
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