All Forum Posts by: David K.

Wow....for a boiler that retails for $2000..... 

Hey Guys-

In all my units the heating systems are forced hot water gas baseboard.  At some point the 25 or so year old boilers are going to start going.  Anyone have one changed out recently?  Trying to get a rough idea on cost?  Each boiler would heat a 800-1000sq foot apartment.

Thanks!

100% agree.  

Keep them.  Calculate the costs of a turnover, missed rent while vacant etc. and it won't be worth it.  Bump em up $25-50 instead and they will stay.

Thanks guys!  Went with the one time courtesy.  

Tenants leave in drop box.  If rent is not in drop box I send out an email.  State Law says I can send a letter to quit, or even at some point take out from security deposit.  I really don't want to upset the apple cart over $45, but this type of stuff bothers me!

I don't want to kick them out, not my goal.  I only want them to pay rent on time, which they do for the most part.  I actually thought of increasing rent with a 30 day rental notice increase....

3 Beds, 2 bath for a turnover costing $3900 with pets....doesn't seem that crazy considering you've done no work yourself.  I recently turned a unit over using a contractor and some of my own labor and spent almost 3k for a 1000 square foot unit with only one bathroom.

Being out of state you're going to pay more, not figuring that into your costs is painting a much rosier picture than it really is for the future.

Just wondering how you all handle these type of situations.  In all my RI rental agreements I charge a late fee of any rent that comes in after the 5th of the month. (rent is due on the 1st). I have a tenant who claims to have paid the rent before the 6th of the month, when in fact he paid the following day.  He's decided to not pay the late fee.  I'm a bit torn on how to handle this.  Never have I had an issue with the 5% late fee, as its clearly stated in writing.

$500 door profit after cap ex, expected maintenance, vacancy deducted or before???