All Forum Posts by: Dan Perrott

@Dale Hensley  - The fee is a minimal $5 for all of your properties.    It's not that big of a deal.  The focus is to address dead-beat landlords of which I am in support of.  We just need to watch to make sure it doesn't turn into something much bigger than that.

Just to let landlords in Indianapolis that the Landlord registration is now open.  Here is the text from the Indianapolis Department of Code Enforcement.  It is easy to complete.  Just trying to help everyone out....

Indianapolis Landlord Registration Program

Beginning January 1, 2015 as part of the Indianapolis Landlord Registration Program, all owners or landlords of rental units will be required to register the properties with the City of Indianapolis Department of Code Enforcement (DCE). Please continue reading for important information on this new program.

Landlord Registration Enrollment: The initial registration period will end March 31, 2015. There will be no enforcement activities during the first three months of the program.

Accessing the Landlord Registration Form: The registration form is available online through DCE's Citizen Access Portal ( http://permitsandcases.indv.eov/citizenAccess ). Applicants must create a portal user account to access the landlord registration form. Applicants may also register at a kiosk available to the public in the DCE Lobby (1200 S. Madison Ave).

Completing the Landlord Registration: The property owner or a designated property management company can complete the registration form. An individual who owns multiple rental properties may register all properties together and pay one registration fee of $5. A property management company who represents multiple owners must complete a registration form for each owner.

Required Information for the Landlord Registration: Please note applicants need to enter only the parcel number (not the rental property address). The property address information will be auto populated using the parcel number information. To assist with the registration process, below is the information needed to complete the registration:

o Parcel number information is available at: http://maps.indv.gov/AssessorPropertvCards/

Landlord Registration Fee: Paying the registration fee is the final step of the process before submitting the registration form. Applicants can pay the $5 registration fee with an eCheck or credit card. The payment service is provided by a third-party vendor working in partnership with the City.

Viewing the Landlord Registration: Beginning January 1, 2015, the public can access the landlord registration list at DCE's Citizen Access Portal.

Renewing the Annual Registration in 2016: DCE will provide information on the renewal process In 2015. The annual renewal process will require minimal action from registered landlords.

Questions: Please email [email protected] or call (317) 327-4316.

Department of Code Enforcement

1200 Madison Ave.. Ste. 100 | Indianapolis. IN 442251 Phone: (317) 327-8700 | www.lndy.gov/dce

Fax Numbers: Building

All of our properties are within 10-12 miles of our home.  All of our properties are within 2 miles of a major hardware store (lowes, menards, home depot).  We take care of all of the issues ourselves (we are the PMs).  Getting calls from tenants is rare because we maintain our properties at a high level.  Do it yourself PMing is not bad if you put the systems in place and take care of your investments.  Screening the tenants effectively AND educating your tenants to take care of the small items before calling is key.  But if something occurs, then the location being near a major hardware store is key.

I change the locks every time a tenant changes.  I have multiple sets that I rotate but I try to avoid using the same lock at the same location.

Here is the statement from my lease:

_______________________________________________________________________________

Appliances – Although the following appliances are presently in the dwelling:

• Frigidaire Refrigerator (FRT8B5HB0-BA74712959),
• Frigidaire Electric Range (FEF326FBB-VF73871578),
• Goldstar Over-Range Microwave (MV1502B/01-709TANS00063),
• Frigidaire Dishwasher (FDB130RGB1-TH73816876)

the use of these appliances is not included in the rent. If Tenants wish to use these appliances, they agree to assume all responsibility for care and maintenance. Tenants agree to return the appliances in the condition supplied less any normal and reasonable use. If Tenants wish to use their own appliances, they may request that the owners’ appliance(s) be removed from the premises.

_______________________________________________________________________________

This has never been an issue with my tenants.

Welcome to BP.  You are in the right place.  Make sure you take advantage of the resources available to you on this site and don't be afraid to ask questions. 

Take a look at the following website. It allows you to enter an address and it will provide the latest FEMA information on the property. It is a wealth of information about flood zones and what a lender may require. You will need to call a flood insurance provider for quotes. You will need to create an ID with the site. I have never had an issue with the site.

www.freeflood.net

I do agree that being in a flood zone could kill cash flow if you are not careful.  Look at your numbers carefully.  Call for quotes for flood insurance.

Hope this helps.

Welcome!  You are in the right place to learn.  Get connected!

What type of RE investments do you do?

@Raj S. 

@Shawn Holsapple 

In Indianapolis, if the customer does not pay the sewer bill, the utility company can put a lean on your property until it is paid - even if it was from a rental.  Be aware that you could be held responsible if they do not pay. 

I had a tenant go bankrupt and I had to pay the bill to get the water released to the next tenant.  There are laws in Marion county specifically about sewer liability to the property owner no matter who the utility was being billed to.  Hope this helps...

@Guy Raveh There is an INREIA meeting on Tuesday evening of the week you are in.  There are many Indy BP members that attend this meeting.  This is not an inclusive BP meeting but it is a good place to network. 

www.myinreia.com