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All Forum Posts by: Pradeep C.

Pradeep C. has started 6 posts and replied 15 times.

Post: Homeowners (HO3) vs Dwelling and Fire Protection (DP3) policy

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

@Jason Bott Thanks Jason. I will call my agent and have it changed.

Post: Homeowners (HO3) vs Dwelling and Fire Protection (DP3) policy

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

Hello,

Hope everyone is doing well during these testing times!!!

I have a question regarding Homeowners insurance vs DP3.

We have moved to our new home and wanted to rent our old primary home. We are ready for Homeowners insurance renewal end of the month and we are currently having a HO3 policy on the old property. 

Since we are moving to our new primary home, I wanted to know if I should ask my insurance company to provide a DP3 policy quote for the old primary which we are going to rent out or keep the insurance as HO3. We are going to have the renters get a renter's insurance for the tenure of the lease as well.

Any advantages of keeping the policy as HO3 vs converting to DP3.


Please explain and clarify how should we proceed. 

Thanks a bunch. Stay Safe Y'All

Post: Pet fee(non refundable) renewal when renewing a lease

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

Hello,

My tenant paid a non-refundable pet fee when they moved in 2 years ago and would like to renew the lease. Do you typically have them pay a pet fee again upon renewal?

Please let me know what the norm is.

Thanks!

Post: Where To Post A Rental

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3
Originally posted by @Erik Sherburne:

@Pradeep C. those are most of the questions I use as "starters" and make it a conversation from there.      

 Thanks Erik.

Post: Where To Post A Rental

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3
Hello Erik,

Can you send me the list of screening questions that you use for intial screening for your rentals? 

Thanks!

Originally posted by @Erik Sherburne:

I've had good luck with Craigslist but part of my system is to start with the email screening.  When they show interest (respond to the ad) I have them answer questions to make sure they aren't a bot/scan/lookyloo:

-When are you looking to move?

-How many people are going to live with you?

-Is your monthly income three times rent?

-Can you afford to pay first months rent and security deposit at lease signing?

etc.

This lengthens the screening process intentionally.  It helps your vetting and it shows them that you are serious and know what you are doing and won't just rent to anyone.

Good luck!

(Sidebar: I actually had renters tell me that Zillow is good too)

Post: Looking for Real Estate agents in NE raleigh area(27616)

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3
Hello, I am looking for a Real Estate agent specializing in the NE raleigh area(27616). Please respond to me to discuss more. Thanks!

Post: Pet policy criteria for tenants

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

Thanks again for all the responses. I sincerely appreciate it.

Thanks!

Post: Pet policy criteria for tenants

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

Thanks for all the responses..

My another question here is:

How do you all monitor/keep track of rented properties if the tenant brings in a pet when they signed for "No Pets" on the lease agreement.

Also how do I track if they (Guest and dog) come over and stay overnight at random times.

Thanks!

Post: Pet policy criteria for tenants

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

We have a prospective tenant who's Girlfriend will visit him every other week and maybe stays a day or two. She has a pet(dog) who will be with her during the time she visits/stays at the rental property.

The GF is not a co-applicant but just visits him and stays a day or two.

How do I address this situation since we have a "No Pets" policy in all our rentals.

Should I charge a pet fee every month along with a pet deposit or should I say "No Pets."

Please advise.

Thanks!

Post: Buying 2nd Townhome in the Same community for real estate Investment

Pradeep C.Posted
  • Rental Property Investor
  • Raleigh, NC
  • Posts 15
  • Votes 3

Thanks a bunch for your prompt responses Karen and Kate. I sincerely appreciate it.

Thanks!