All Forum Posts by: Cory Kerr

Hey BP I hope all is well. Im just now returning to work after sustaining an injury, being out, and being paid through Workers Comp for 2 years. I've been trying to obtain an HELOC on both of my investment properties(one I occupy) but I'm being told Workers Comp isn't considered taxable income, which basically means I was unemployed for 2 years. Is there a way of getting around this or any ideas? Thanks

@Ronan M. Hey, hope all is well. Are your "go to" guys for boilers still working the southside? If so would you mind PM their info? Thanks.

Will have to comp seeing that it wasn’t habitable according to city laws. This increase was only due to the extent of the repair. Letting them choose between having a functional dated bathroom or having a full update at a higher rate. It was a 12.5% increase which isn’t bad because it’s been no increase in almost 6 years. 

Good afternoon. I hope all is well. 

Was faced with either patching up old bathroom plumbing/tile walls vs updating the entire bathroom(which allowed me to update plumbing for 2 other bathrooms too). After being presented the scenarios, the tenant choose updating the bathroom along with a rent increase and 1-2 week renovation time. The 1-2 weeks turned into 3 weeks.

How should I compensate them? Should it be any less seeing that it was their decision knowing there wouldn’t be a bathroom for at least a week?

Prob about 20% but yea that’s nice amount of money left on the table.

Thanks for your input! Its the only bathroom and it isn’t big. 8x7 and most estimates have been at least a week. They’re on a month to month lease. I get your perspective. Tenant could potentially stay another 5 years and not raising it by then would have me more under market than I care to be. 

Greetings! Hope everyone is well. 

A tenant in my 3 unit reached out about a leaking shower head, low water pressure, getting water for the tub reconnected(it has the old setup with 4 handles with 2 going to shower + 2 for tub spout), and refinishing the rusting tub which the prior owner did every 5 years.

I've had the property for 5.5 years, and besides upping rent since I acquired, I haven't raised rents. To make the repair I'll need to demo 2 of the walls, replace plumbing, put the walls back up, tile the shower, and get the tub refinished. I want to just demo the unit I occupy(having a different plumbing issue & will need to open my bathroom ceiling) as well as the one the with issues and redo all the plumbing except for the toilet stack while the walls are down.

Tenant is a good tenant, at times pays late w/late fee but always gives a heads up. Is it better to just demo the bathroom and update(floor, paint, fixtures, vanity, etc.) then go up $100-150(still well below market) or only replace what was asked and rent stays the same? 

Would it be better to ask what she wants to see if she can afford? Will I have to accommodate during repairs or just see if she has somewhere to go? 

Thanks!

@Brendon Pishny Thanks! This is Indiana btw.