All Forum Posts by: Brandon Y.

Have an 1890s home in Lynn, MA, and can't wait to get started on its renovation! I'm looking to fix it up and rent it out. Does anyone have recommendations for a reliable contractor in the area who specializes in upgrading electrical systems, drywall, and flooring? Or GC? Any tips or advice would be greatly appreciated!

I'm looking for recommendations for a contractor who could remove horsehair plaster from an 1890s home and replace it with sheetrock. The renovation will be in Lynn, MA. 

Has anyone had experience with this type of project? I'm particularly interested in hearing about contractors who have worked on older homes and understand the challenges involved.

Any advice or recommendations would be greatly appreciated!

Thank you

Hello..  I am new property owner. I am location in Boston area. 

Does anyone has a recommendation for an accountant in Boston area?

Thank you and happy holiday.

Located in Boston area, I have two units that are currently under priced and I would like to bring the rent to the market price. The tenants have live for more than 2 years.

What is the best approach to the tenants for the increase rent? Is there a cap on how much a landlord can increase the rent at a time. Would 30 days be enough time for notice or does it depends on the length of stay for the tenants.

Thank you for your time.

Hello,

I am in Massachusetts and I am in the process of closing a duplex with tenants in each unit. I would like to know what is the best way to structure the finances for the properties. These properties are going to be purchase under my name and not in a LLC.

Beside the bank accounts that are reserved for the security deposit and last month rent, what accounts should I have. 

I have read that each unit should have its own accounts and also another account for expenses.  

When the tenants pays the rent, where which account should they send the rent to. Do I need a holding account?

What other financial structures would you recommend?

@Colleen F.

Thank you for the information from MassLandlords 

Here are the links to the webinar regarding to lead paints. https://masslandlords.net/reso...

 @Colleen F.

Thank you,

I found an article from mass.gov

https://www.mass.gov/doc/105-cmr-460-lead-poisoning-prevention-and-control/download

Section 460.100: Duty of Owner(s) of Residential Premises Part (B)

 @Mason Hickman,

Seller agrees to have a lead inspection. I have up to 10 days to get it inspected. 

https://www.mass.gov/doc/105-cmr-460-lead-poisoning-prevention-and-control/download

Section 460.100: Duty of Owner(s) of Residential Premises Part (B) 

This part states that as a new owner of the property and have a tenant younger than 6, I have 90 days to get a Letter of Full Compliance or or a Letter of Interim Control. 

I suppose that answered to my question #1 - should I still get inspected. I have to get it inspected.

I m purchasing a home in Massachusetts and my offer just got accepted for my first multi-family.

The home was built prior to 1978 and it is a two-family side-by-side. Currently, there are tenants at will and both unit tenant would continue to stay in the house after the closing.

Both tenants have been staying in the house for more than 2 years. Unit B tenants have a toddler.

The seller has no knowledge of the lead and the building was never inspected. My concern is that I will be acquiring a tenant with a baby and living in a home that is built prior to 1978, which has a possibility of lead paint present. I have 10 days to get it inspected.

Knowing that there is a very high probablity that there are lead paint;

1. should I still get it inspected?

2. Deleading is a high cost procedure. How can I avoid the situation that need to delead the home? Or is there a way?

3. How do I handle the situation of acquiring a tenant with a toddler living in a home built prior to 1978?