All Forum Posts by: Al Pat

Wouldn't City condemn the property if not repaired in due time? it will be deemed uninhabitable?

Does anyone have experience with Grange Insurance for the rental properties? Their quote is fairly low compared to big players like AllState etc. Just wanted to get perspective from their current customers on the BP forum.

I had this happened to me and I spoke with tenant about scheduling delays. I also bought two space heaters for couple of days or may be three days. Once everything became normal, I returned the space heaters to store as I didn't want to store them. Tenants were happy, no rent deduction was offered.

I always go with cheap HD cabinets, white ones or Oak ones and put nice counter top. Not granite though but the color. Tenants don't always take good care of pricy cabinets. I personally wouldn't consider expensive items without payback. Let's say if you install Mahagony cabinets at $6000 and are able to raise rent just for that fact by $200 per month, you still have two plus year payback. Totally not worth it. on the other hand the same does not apply to HVAC because without it you can't rent the place. Just my two cents.

I collect security deposit and rent at the signing of the lease. I don't have a PM but if I would then I will be all over him for not getting this straight. Now, I have learned my lesson by renting three unrelated girls in their 20s who weren't college student and I will not do that again. They always blamed another for short of rent and pay period etc. I highly recommend your PM to call their work number from the application. it is also possible that they are waiting on their paycheck. Also, if they transferred the utilities in their names and it is disconnected then you know they ate not going to move in. Keep the deposit and move on. My lease has a clause that says if they do not take possession of the premise in seven days (a.k.a move in inspection with me) then they loose deposit. Hope it resolves peacefully, good luck.

@Wesley W. a great emails, hope you don't mind others using it. @Karen Kasjaniuk it is typical, I create competition by inviting multiple people in same time slot and also telling them that they are the first one to see followed by three other family, so they show up for sure. it works. If they all come at the same time, which happens, just tell them others came early because they really want it. This will drive desperation.

How would this protect you? Any accidents due to negligence will fall back on the property owner whos name on the title. What are you trying to achieve?

I have my business accounts with Wells Fargo. Minimum balance requirement is $600 for both checking and saving. However, they don't offer Zele payment acceptance for business account for free like they do for personal checking. I did find a way around it by using CASH app. My tenants pay me through it and it goes to my business account next day. I have also opened Capital one Spark credit card which has pretty good cash back program. All expenses related to REI are charged to it. I also maintain my excel spread sheet that I email to my CPA at the tax time and it makes her job easy. Yes, it is a business and must be treated like one. By doing this you will be able to take lum-sum distribution every quarter or end of the year in bug chunks.

Don't do it. Not only you will loose tenant but also good handyman when things go bad. It is not a matter of if but when because disagreements will happen over something.

What is the best way to introduce yourself to your inherited tenants in duplex that is not house hacked by landlord? I want to ensure they know where to and how to send their next rent to me and not the old owners.