All Forum Posts by: Colleen F.

There is nothing magic about 9, 12 , or 18 months. You could make it 14 if you want and the tenant agrees.. One way to manage it is instead of increasing rent look at a cost you can shift to the tenant. Water, trash? Also it may be not renting because it doesn't look well taken care of or the property manager is not marketing where people read. Some PM put it on their web site only and tell you its not renting. Who the heck goes to a relators website...

So at this point I would accept the low rent, if you feel strongly on increasing it after 9 months think about if you really want to let it go vacant anymore now over $150 which is what the 9 month vs 12 month means. That being said make sure the renter passes screening because a bad tenant costs more then no tenant. Also the 60 day notice is a good idea. You personally may want to do some showing the next time around to find out what prospective tenants think about the property.

Run the numbers as if it were a regular investment. Assume your 1/3 interest is a part of the down payment. If the numbers work only then make an offer on it to the other part owners (remember if you buy it no real estate commission and you should work that into your offer.) However if it hasn't been rented I don't think the bank will count all the rental income to any large extent. You should use the tools on here to see if it makes you money.

It will be valued at the date of death assessment and the executor should have had that value assessed. Depending on your relationship figure in your taxes if you are not a direct decendant of the deceased. Can you afford it? Would the other sellers want to finance the deal? short term?

If you can't do granite remnants cost effectively I would not do granite for a mid range rental. The sink piece is probably big for a remnant A granite look formica would update it or if you are handy you can refabricate second hand corian. Add a microwave overstove, white is cheap. If you do granite do an undermount sink

@ Jon K. Good for you that you caught that! The fact he would lie about the smoking is one of those red flags you can't ignore. Hopefully you will find the right tenant after a few of these duds..

For outside work we don't always give notice. However that is mowing the lawn and edging and it is in the lease that we do that. For tree trimming I would likely tell them. I can see where a Saturday might be an issue for a tenant on this. I would just let the tenant know that you had arranged it for Monday and you will talk to the arborist, you are sorry for the inconvenience and you did not intend to do it then. I am not sure if the outside you technically need 24 hours notice. You don't for anything that is a safety issue like fallen over trees.

Do you having parking? If so, assuming a Worcester area location, snow removal, grass, and cleaning for $1200/yr ? Maintenance seems low.

Yes, it is and smokers are not a protected class. I don't allow smoking inside and prefer no smoking. One house is furnished and we had some challenging students there. I did not do the cleaning myself so imagine my surprise when my son removed the couch cushion and half of it was burned. A burn about 18 inches wide and into the cushion. I didn't care about the couch so much as the safety risk so that is why I don't allow smoking.. Sometimes what people say and what they do is entirely different.

what does the lease say? It is best if it says no pets without written approval of the landlord. I would then say to them you just moved in, lets see how this goes and we will discuss it (providing the property is suited to it ) in 6 months.

You've done what sounds like a very good job so I probably wouldn't agree to it. If you do you could hand her one of those neutral color pallets from the store and say these are the colors, nothing darker. When I have agreed it is because the room needed painting anyway either because a previous owner had a very dark color or we were showing something before we painted and they expressed a preference. I do advise when you let anyone paint be specific. If you don't want woodwork painted or you want the ceiling white you need to say so. (personal experience). Sometimes people say sure but you have to pay someone to paint it back when you leave.

Well those Colorado homes might be in designated flood plains when they try to renew their insurance...

There is a wealth of information on the flood zones and flood zone Map updates on this site. Remapping happens it seems after each natural disaster in an area. It is really important when in a flood area to understand your position and what you might pay for insurance as well as what you are covered for. http://www.floodsmart.gov/floodsmart/pages/flooding_flood_risks/map_update_schedule.jsp

I am not an insurance agent but have some personal experience in flood claims and insurance..