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All Forum Posts by: Colleen F.

Colleen F. has started 60 posts and replied 8270 times.

Post: Do you fertilze the grass on your rentals?

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

Scott , of note here may be that all our properties are pretty wet on their own and are on septic so no problem with the grass growing in the first place. We have grass that's good enough. I would say I just view fertilizing as an extra cost with no real return. I differ from you in that I don't view it as an investment in the property. Landscaping in general yes but just greener grass no. You may be in a different area. We are on par with the average neighbor we have without fertilizing. I need to control my expenses so there is a good dividend because there is no point in having the property if their isn't a good dividend.

Post: Buy, live in, fix up, and sell!!

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

We did this but not by design. I just love old houses, we had low budgets for our areas, and we have moved for other reasons. I have to say it was easier for the kids when they were little but harder for me. The floor that took too long to dry had us in a kitchen and bathroom only situation for a week while my husband took a business trip. It was not even poor planning on our part just bad luck. So pros money wise it make sense. Cons - it isn't as easy as you think, you have to be flexible. My parents leant us their motor home at one point and we parked it in the driveway for a week (as you cannot live without a bathroom). I found this a much better solution then leaving or going to a hotel with the kids since it meant they had their friends around and a backyard to play in. As they got older they were less tolerant and tested more- not always being respectful of the no play zone. Of course it depends on the personality of the child and what kind of listener they are. I suggest knowing your limits and be willing to do temporary supportive housing when needed.

Post: buying first multi-family

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

Just another comment on MF. Fire alarms are required at times based on the number of units. Rhode Island, understandably with the probably the toughest laws on this requires a fire alarm and usually quarterly inspections on 3 units and above so find out what your municipality requires. If there is such a requirement it is the responsibility of the seller to have this inspected and in order before sale at least in RI. They have to call the fire marshal and have it done or you won't close (trust me our seller pushed it to the last minute and tried to get the system through without complete compliance- no way that is going to fly) In RI you also need a certificate of lead compliance which essentially means lead free friction surfaces, not sure about NJ (although it is one of my favorite places!)

Post: buying first multi-family

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

Inspections , If you need a specialist hire one. We had to get a structural inspection and it was worth it. Repairs, bring in contractors to estimate any major needed repair that is complex. You'd be surprised what things cost. Best advice , run the numbers and don't cheat , make sure you include all expenses even if the seller didn't. Our sellers insurance was half ours as he had no coverage...

When you get rent rolls and leases make sure they are complete. Many of the leases we got were just messy and missing pages. Lead disclosures weren't made or there were inconsistencies from lease to lease. Get a payment history. We didn't it worked out okay but I see other people here are not so lucky.

Horror stories well for landlording many are the same issues as single families with the exception that in MF they can hear what goes on next store so sometimes that 's not so good.

Good luck.

Post: Do you fertilze the grass on your rentals?

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

Not a chance. Do you provide lawn mowing for single families? We do for one but that is college students. We are thinking about what to do for another single family since it is adjacent to a MF we may include mowing but for other properties in the past we had not. Fertilizing would not even cross my mind just means more mowing to me.

Post: things that go beep in the night and then some.

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

No drop ceilings, they are all plaster. I just had a plasterer in but it started before he got there and I don't think anyone closed anything in. It is the first floor tenant complaining but you have reminded me I haven't been in the attic lately. There wasn't anything there and it doesn't make sense but at this point I am checking everything.

Post: things that go beep in the night and then some.

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

I have checked there are only CO detectors with battery and they don't seem to be beeping. What is a UPS? Universal Power Supply?

Post: Converting To Coin Op Laundry Questions

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385
If the machines are plugged in to your electric (you pay the 110 for the laundry machines and you pay water). You could send a notice reminding them that although the machines are theirs the use should be limited to the occupants as you pay for these utilities (you might want to have this in the lease) and should you determine that use is excessive you will move to a different system such as coin op... Our lease allows us to charge for excessive water use but we only once had to. If you decide to talk to them I would consistently mention this same information. Good luck.

Post: things that go beep in the night and then some.

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

Ok so I am stumped. I have a tenant complaining of a periodic beep in a 5 unit building. I can hear it, other tenants hear it occasionally but she hears it night and day every 15 to 45 minutes for like 1 second. The building has a fire lite MS-4 fire alarm but neither the inspector or the manual report this as an alarm this unit makes and the panel is green lighted. The emergency lights don't have a beeper and we have stood in front of the Verizon Fios boxes, septic alarm, Battery CO alarm and it wasn't coming from them. It doesn't seem to be in her apartment and when you sit in the front hall it seems to be referred to the upstairs but when you go upstairs it seems to be below you. What else can beep like this? None of the other tenants complain so I don't think it is coming from their apartments and she says it hasn't happened before. We are relatively new owners and put in a call to the old owner but I am open to suggestions.

Post: Tenant accidently burned the oven tray

Colleen F.
Posted
  • Investor
  • Narragansett, RI
  • Posts 8,383
  • Votes 4,385

If it was not the previous tenant and they put it in there it is their damage and they should be paying for it. That being said if they claim its not their candle you may have trouble getting them to pay. I would however tell them the previous tenant used the oven frequently so it is unlikely the candle was left behind and they need to be careful in storing flammable items. I would not be giving them a gift certificate for dinner or making nice over the incident.

Some tenants are more hysterical when things happen. It is good to see for yourself sometimes.