All Forum Posts by: Blair F.

Mike Wood I have rented once completely unseen in person, and this last time just a friend viewed apartment for them. I am in Carrollton/Uptown area. It has worked out well in those situations. Both were moving in from out of town.

Joe Scaparra thanks Joe. Yeah I haven't tried re-keying the deadbolt just the lock in the door handle. That is hard bc you can't easily turn the key 90 degrees and have it stay. I'm going to work at it. But I'm thinking in the future smart key deadbolts and no locks on door handle may be easier. Good to know about the tool at Walmart. Bc of course I can't find the key that works to the back door deadbolt (I obviously need a system, losing keys)

Hello, I currently have one duplex that I manage. I have put in place a lot of systems to make managing this rental and future ones easy. However one of my biggest issues is keys. I had SmartKey locks installed in door knob and deadbolts of front and back door. However I am having a lot of trouble re-keying them. I thought I could switch between a set or two of keys and re-key every time. Does anyone have any suggestion on systems or products for making rental keys easier? I would consider key pad locks on future rentals that may be short-term rentals, however that seems a little extreme for my 100 year old one bedroom long term rental.

@Shaun R. I use the Quickbooks online simple version ($15/mo) as I only have one duplex and it is cost effective and works well for my needs. My plan is to upgrade to the pro/plus for class tracking when I add another property. (however, I haven't fully explored how difficult upgrading will be). 

Andrew Magoun for my quickbooks I have fixed asset account for each of the following: building, land, furniture and fixtures, and improvements. I do my own quickbooks during the year as well. I would assume it would go to an improvements account based on the nature. But it really depends on the depreciation period. For instance new appliances in furniture and fixtures are depreciated over a fewer number of years than a new roof for example. I save my capital expenditures in a file and verify/provide to my tax accountant at the end of the year for him to confirm depreciation period.

John Cushing go to you city/township assessor office website. They usually have tax estimator feature

I didn't realize this was the case either. Good to know. Does this still apply if you are moving up in house/moving up in square footage?

Ron Rohrssen I email a canned email response with my detailed rental criteria to very email I receive asking about the property. I ask that if they meet and accept the criteria to email me back to set up a showing. (Eliminates a decent number) Then I do showings, if they are interested I email second canned email with link to Cozy application as well as list of additional support I require (copy of ID, pay stub, etc.) for application to be processed.

Mike Greenberg do you have 2 years of landlord experience on your tax returns? It's my understanding that this is usually a key item to having lenders count rental income for debt to income.

This sounds like a horrible rental. I hope that is not your intention.