All Forum Posts by: Cathie Kovacs

Doing what’s been described will not maintain the aging on the original invoice though. Apply their original (bounced) payment to this new invoice that you create so that the original invoice is still unpaid and ages properly. 

To clarify, you are all speaking of month-to-month leases for a fixed term (of say, 1 year) or something else?

Correct. Didn't have the LLC so nearly wet myself when my attorney said they could force the sale of both of my houses to satisfy the judgement. Thankfully it didn't go that far.

An LLC will limit something like this to just the assets of just the one LLC, IF you practice proper separation between you and your LLC (no comingling funds, proper execution of documents etc.).

Quickbooks Self Employed ~$5/mo. 

 I’ve been hearing more and more of these types of claims as the state has basically allowed it to become legalized extortion. CYA. 

I just filed the quit claim to move one of my rentals from my name to an LLC this morning. Clearly I see some benefit in doing so.

 An umbrella policy or large liability policies will not protect your assets in the case of a discrimination or other such suit, only liability claims.   The only thing you can do to insulate your portfolio is to compartmentalize by property into individual LLCs, in my opinion.  

 I have been the defendant in an unsubstantiated/bogus discrimination claim. If you Google this in Connecticut, the payouts are huge! It scared the crap out of me and I won’t leave my other properties at risk again.  

Assuming you're talking about a single member LLC, there are no tax benefits or costs different then you're doing it now. A single-member LLC will still appear on the schedule E on your personal tax return, as before.

ADUs are often legal. Check your field card. 

The difference between an ADU and a multi family is that the main house of the ADU is owner occupied. In a true multi, the homeowner may not live there at all nor are the required to be.

If you are occupying the dwelling, you are fine to rent out the ADU (thus the term vs in-law) to an unrelated party.

Call your state Fair Housing Commission. Mine were quite helpful when I had questions. 

Don’t they have to sign an employment verification form? I’ve had employers refuse to talk to me without one. 

I google my candidates. Hadn’t thought to google their bosses though. Thanks for the tip. 

Hello fellow Cozy users. 

I like the way that Cozy handles the tenant application and screening process but I’m stumped about how to handle employment verification paperwork. I’ve been sending those out separately via HelloSign and I feel the process is disjointed and cumbersome. 

Any way to include those in the Cozy process or at least send them via Cozy if I like the candidate? How are you all handling this element of tenant screening?