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All Forum Posts by: Calgary Smith

Calgary Smith has started 3 posts and replied 8 times.

Post: How to structure lease with owner LLC and mgmt LLC

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

3) Is the lease between the renter / Lessee and the Owner LLC (with the Management LLC acting as an agent for the Owner LLC), or is it between the renter/Lessee and the Management LLC (who acts on behalf of the Owner LLC.)

Post: How to structure lease with owner LLC and mgmt LLC

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

Hi everyone,

I've searched the archives but can't find an answer to what seems would be a common item - For residential leases where you have an LLC that owns the property and another LLC that manages that property, takes rent, does repairs etc., how do you structure the lease agreement. (There is an agreement in place between the 'Owner' LLC and the 'Management' LLC.)

I want to keep things as simple as possible so my questions are:

1) Can I simply make the agreement between the renter / Lessee and the Management LLC/Lessor or do I need to reference that the Management LLC is acting on behalf of the Owner LLC and state the name of that Owner LLC in the lease?

2) Can it simply be the 2 signatures > the renter / Lessee and the Management LLC/Lessor? If yes, do I need to reference that the Management LLC is signing on behalf of the Owner LLC or acting as agent for the Owner LLC in the signatures?

Thanks in advance for the help/insights!

Post: Has anyone used Zillow rental applications? Your experience?

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

I have just used it for the first time and after 7 emails back and forth with Zillow support I still cannot see my applicants results.   Everytime I try to access them I get an error message telling me that I need to contact support.  Supports latest response is that I need to disconnect my account from my private server, and it's a Hotmail account!  Ugh.  They've clearly got some development work to do.   

I will not use this again.

To get around the issue of not getting enough data from applicants I removed the duplicate items from my original application form (past landlords, references and job details) and had them do a two-part application - filling in the remaining details for me and also doing the Zillow application.

Post: Refinancing Multifamily (quad)

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

Yuriy, it's been years, but I'd be interested in what you ended up doing.  Thanks!

Post: LVP or Carpet on 2nd floor unit of quad

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

@John Underwood, @PJ M. - thanks for your inputs.  I figured she was probably right but thought I'd see if there were any people who had had good luck with a LPV as sound-helpful as carpet.

Post: LVP or Carpet on 2nd floor unit of quad

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

Hello Everyone, 

I can't tell if this is the right location (so if it isn't please give me a link) but here it goes.  I'v been replacing carpet with LVP in a number of my units but have gotten push back from my PM on doing so with my latest turnover.  It's the second floor unit in my quad and she says that it will cause too much of a noise issue and that we should go again with carpet.  Any thoughts?  Is she right or is there a better quality ie more expensive and cushioned version that does the same as carpet?  I've been googling but to no avail.  Thanks for any input and personal experiences with LVP on second floors.

Post: CPA in Panhandle, Florida

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

Hello, I'm looking for Florida CPA recommendations, preferably the panhandle region. Ideally they would specialize in real estate, are knowledgeable around tax planning, retirement etc. and have experience dealing with American's based overseas. 

Thanks!

Post: $50,000 Profit Group Flip Before and After Pics

Calgary SmithPosted
  • Rental Property Investor
  • Florida
  • Posts 9
  • Votes 2

What an amazing opportunity for those able to attend.  Congrats on giving back and having such success, both for the trainings and the sale!