All Forum Posts by: Alex Get

My Tenant has been in the house over 10 months and she has been  late about 3 times, she paid with late fee.
The new story is "I had death in the family and I haven't been able to get to the bank I have to wait for a check to clear on tomorrow to cover the rent .Do you want me to send the $$$ amount (which is 3/4 of the total rent amount).I have today and the remainder in the morning or send the whole amount in the morning"

The lease is a year lease with 5% late fee of the 1st day of the month with 5 days gross period.She knows that I am serious for the late fee and I don't like playing around but I also want to treat my tenant professionally so If you were in my  case do you take 3/4 of the rent today? and the remain tomorrow or all together tomorrow? If you accept 3/4 of the money today how much are going to charge for the late fee? is it 5% from the remaining 1/4 only or 5% from the whole rent? How do you begin your letter in the family death case while your gut and experience is telling you its made up case? 

Share me your experience and your opinion in this case please, thanks.

I was looking for home owner insurance for LLC property. The best quote I found was from allstate agent and it was for Landlord policy, the question is if this policy is not under the LLC name what is going to happen in the worst scenario? is it something you can buy it for your coverage? obviously,on the policy its stated the "Applicant is:- Individual" not entity, even if the agent told me that its the only policy allstate has it to cover this LLC,i don't feel it is the right policy of coverage under individual name. What is your experience and opinion for this matter?

Thank you

@Rafael Zavala,
I suspect that would be one of the case.

Thank you.

@Jason Bott, 
I guess it building policy,I will check with my agent.I have over 6 properties. Thank you so much for your portfolio policy suggestion,I will work on it ,i never know there is such a policy out there.

@Matt Clark,
Thank you for referring me Erie insurance and I will shop around.

@Julie Marquez,
Thank you for sharing me the information.I will find out about it during working ours.

@Julie Marquez, 
The Same price? Its Impressive!!
Does your insurance company operate in your local area  or nationwide? if you think they operate in East coast please PM me.

Thank you

In my name I have some investment properties which are from 4Bed/2Ba SFH to Duplex and all of them are rental property, the coverage is replacement value and the highest property insurance among these are $735. Now my investment property is expanding and I suppose to form LLC,and in last month I purchased the first investment property in the LLC name.Here is some details of the coverage, its dwelling- fire,extended,and liability in the same city with the other properties.What I can say is except premises liability,and vacant house, every thing else is almost the same coverage with the others.The new house is 3Bed/1Ba SFH. what wonders me is the insurance quote for the LLC Property that I got today,Guess what, the insurances quote that I received today is $1968.70.Since its a business i was expecting a bit higher than other properties but as you see it is way higher than the others.I wounder if you went though like this and what do you think, is this quote normal for LLC investment property insurance?.

@Account Closed,Thank you for the information, i am reviewing their homepage now.I will come up with update.

@Tchaka Owen@Ryan Deasy,you got my gut feeling.That is why I brought this loan to BP forum.I would ask the lender different questions to figure out either its real or  funny business, your opinion will safe my appraisal money ($550)  and educate me a lesson for the future.