All Forum Posts by: Uwe K.

I mostly rely on two things:
Other postings for comparable places, and my gut feel (which includes my other places currently rented and feedback from potential tenants).

Rentometer I use as one source, but I do no put much value on it. I don't use Zillow and friends, since I think they are mostly far off, same as with their Zestimates often.
My main source is listings on Craigslist in the same area, taking size, condition, features, and neighborhood into account.

When I read $200 increase I thought "damn", but it is "just" 7%. Still, I would probably not push beyond 5% depending on the market and when the last increase was, especially if the tenant is good and you want to keep them.

Generally, I think inflation has a limited direct impact on the rent. Some areas increase lot more, some decrease. Same with house prices, in the recent years they were certainly not quite in line with the inflation rate. When the coal powerplant opens up next door, a 5% inflation doesn't help you. And if you have the hottest place in town and students can't find a place to live, you couldn't care less about a 1.5% inflation, but rather jack up prices every year up to what the market can bear.

I pretty much agree will all you guys: I would depreciate over five years. Plus a guy doing a recent installation in one of my rehabs told me they have now seaming irons where they can put in replacement patches and you will never see it. Provided you kept some carpet pieces.
I would also not be in front of the judge trying to find reasons why the tenant would need to pay $1600 on a 6 year old carpet.

Marc:
Carpet generally depreciates over 5 years per MACRS. I was just wondering about the 27.5 years because if you build the house, the whole construction cost including the carpet and other fixtures will be depreciated over 27.5 years (for residential). Even though the carpet will likely not last that long.

Don, yes, same Uwe ans Germany Uwe. Came to WI with a student exchange and got stuck somehow :)

With fiberglass, if yo have a proper vapor barrier behind it, it shouldn't start stinking and rotting - in theory. All that extruded foam sounds expensive.

What, you can't have basements in Texas because the oil comes gushing out once you start digging? :)

Anyway, Don: In your version without studs, how would you mount the electrical boxes?
When using the foam board in the stud bays, I think you would seal the corners like you would seal the gaps/seams on the glued on board. That would prevent the breakage on the insulation, I think.
But then I am not an expert (yet), I was just starting to look into the whole basement remodeling thing as mine is due to get done April or May.
I've only heard in our area that screwing studs flat to the basement wall and putting the drywall on that is not up to code. Not sure why, if lack of of proper insulation, or whatever mysterious reason inspectors sometimes come up with.

Hmm, good point. I checked the verbage and, of course, it's wishy-washy:
"amount withheld as reasonable compensation for each item or claim"

Keyword "reasonable": With the stinky worn-off carpet I just ripped out at another new acquisition I probably would have had problems charging 100% of a new carpet.
I guess it then is up to the court commissioner to decide at what age which amount is "reasonable".

I've used Lowe's numerous times for a carpet install with their $97 special. First one was even $79, I think.
Anyway, as others said, no need for premium pad, get the cheapest (was 48 cents here). Just three weeks ago I had another install completed and this time I questioned the installers about this.
He didn't even know what they charge for the pad. The installer supplies it, and they get it cheaply. After all, it's just old shredded t-shirts and stuff. Lowe's charges me an arm and a leg for the pad and subsidizes the installation. The installers themselves get a fair fee in the end.
He told me when he goes out he would typically charge around $4-5 per yard (as they all think in yards) incl. pad, so about 44-55 cents a sqft. Pad alone, he said, about $1.50 per yard, 17 cents.

I don't know NC law, only WI law. But I am guessing there is something similar, though not identical.
In WI, 12 hour notice by landlord required, and not consent from tenant needed.
As a tenant it might also be wise to help out in that respect and not make the landlord mad. He might get extra picky with the move-out protocol and deductions... :)

I don't want to beat a dead horse with another "security-deposit-deductions-because-of-carpet-stains-question". But I have a special twist to this and might be more of an accounting issue:

Let's assume the tenant is really responsible for the stains and let's also assume the stains are not considered normal wear and tear, so deductible.

Mr. Taxman tells us carpet will be depreciated over 5 years. But he also tells us residential RE will be depreciated over 27.5 years. In case of a new construction (or addition. etc.) this would include the nails in the studs and the carpet, as well.
Carpet is original to the new construction, completed six years ago.

Question: How to calculate the remaining value of the carpet for security deposit deduction purposes? Use 5 or 27.5 years?

Thanks
Uwe

Sorry for digging up this thread, but I agree, plus they don't make sense.
The Certificate of Mailing tells me that I've sent it. Or sent at least something.
Certified Mail does that plus creates a record when it was delivered and requires a signature. But apparently that record is being kept at USPS. So why would I pay extra if I don't even see it and know about it?
I would have to pay another fee for the return receipt to actually see what I paid for previously...

Now we just have to figure out if the postal service learned from the airlines or vice versa. Wait until they charge you a penny to actually use the stamp they just sold you.

Anyway, now I still don't know what to use :-) Maybe I put some insurance on for good measure, in case they loose it.

In that case: stay away from 2 BR units :D
Like others said, buy the whole building or nothing. Headaches down the road are pre-programmed otherwise.
Even if it some sort of condo situation, a condo assoc. with 2 owners will probably always end up in a deadlock.