All Forum Posts by: Alex L.

Assuming the "rent control" allows for consideration in potentially increased property taxes or insurance, I'm not too concerned about it. I could see how it might be beneficial, and am curious to see if it'd actually keep rents across the board at a more nominal level. The only affect it'd have on my activity, I would imagine, is that I'd probably make yearly rent increases mandatory just to keep up with rent control numbers and not fall too far behind. I would be more concerned about other legislation bundled with it... like squatter friendly laws.

If you were rehabbing this property for 8 months, issues like the distressed shed and lead-based paint testing/rectification should have been handled a while ago. I'm not sure what you mean by "level up" the backyard, but I'm guessing you mean that it needs leveled. If this was for a section 8 property, or you have a local housing authority that inspects rentals prior to receiving a license, you should have obtained a copy of their requirements prior to beginning rehab. Doesn't seem like there's much you can do now besides address the concerns, though.

I would personally replace it, especially if I was going to hold onto it long term. However, it might make sense to replace it later after you've recouped some money from rents. If this is a BRRRR situation, though, I'd replace it now.

That quote stuck out to me as seeming to be a bit high if this is for a single furnace system. I could be very wrong though, as I focus on SFHs. Either way, I know you've received a few quotes from professional companies... consider contacting your local supply house and asking if they have any recommendations for HVAC contractors, as well as asking if they could price you for HVAC materials. For example, in my area and for the properties I purchase, it's not unusual to get quotes from professional companies ranging from $6500-$9000 for a 96% furnace and 1.5 ton AC installation. Instead, I call Banner Supply (my local supply shop who also gives me 10% off as a contractor/landlord) and they were able to quote me $3400 for the materials, and then put me in contact with a couple of HVAC installers that they recommend who offered to do the job for me for $800-$1,250.

Again, I'm not too familiar with multifamilies, but I imagine you'll be able to save a decent chunk going a similar route. Also, it may require you to be more involved.

This is one of the most unhinged things I've read in a while.

I've got a couple of 3 bedroom SFHs that I'm in the process of rehabbing, and am toying with the notion of listing them as MTR for travel nurses. I've noticed that, in my area, most travel nurse housing listed on Furnished Finder is 1 and 2 bedrooms. There seems to be a severe lack for 3 bedroom rentals, although that doesn't necessarily mean there could be a demand, either.

Does anyone with experience renting to travel nurses have any words of wisdom in this regard? I'd like to think that 3 bedrooms would be nice for those traveling with family/kids, but I could be entirely wrong.

 You're responsible for acquiring an updated copy of the national DNC list, and checking the numbers that you're cold calling against it at least once every 30 or 31 days prior to calling them. If your particular state also has their own state version of a DNC list, you'll need that, too. I'm not familiar with PA.

To be completely honest, though, you're pretty safe if you call someone on the DNC list only once within a 12 month period. Two or more times within a 12 month period, though, is when the communications become an actionable offense. Robo-calls, or AI voice calls/messages, are always a violation even on the first one.

I'm not an attorney. I'm simply someone with a lot of experience when it comes to TCPA lawsuits because there's nothing I hate more than health insurance or auto warranty companies cold calling/texting my personal phone.

No recommendations for a script, but I certainly hope you're referencing the DNC list in your endeavors... otherwise you're on your way to getting sued for $500-$1500 per solicitation under the TCPA if you're not careful. One of the reasons people tend to stick to physical mailers. 

I've used Stessa for the past 5 years, and really do like it for what it is. It doesn't have a tenant/maintenance portal, which is something I'm interested in for the future. Will be taking a look at Innago or Hemlane as a replacement. 

In addition to the thickness, make sure you choose something with a good wear layer. Generally 12mil and up is ideal for rental properties. I personally wouldn't go lower than that.

 Same here. Not only do I love my own pets, but I'm an animal lover in general and feel that I'm morally and ethically obligated to allow pets (within reason, and well-behaved, of course). In our area, our animal shelters are severely overpopulated, and the local pound has an intake waiting list of 70+ dogs at any given time. A large number of the population here are renters, and many landlords don't allow pets, thus only adding to the problem as many people would love to adopt, but simply can't. I also see so many dogs having to be given up because people move, and the new property doesn't allow pets. The last thing I want to do is add to the problem. Pet proofing my rentals (high-quality LVP, no carpet) and charging a non-refundable deposit has never done me wrong yet. There's bound to be an exception eventually, but that won't keep me from allowing pets as, so far, I've only had great experiences. 

I'm actually working on having privacy fences installed at a couple of my properties so that pet owners will have enclosed backyards to be able to enjoy. Something most rentals around here don't have.