All Forum Posts by: Emily Cole

Let's say you have an expense that is a repair. You have two different quotes for two variations of the repair job. For context, your cash flow/income is small. One quote costs more than the other. Is it better to maximize the amount as a business expense to claim on taxes? Or is it better to consider your tight cash flow and choose the lesser option?

that’s a great idea! When I renew the lease with them, I’ll see if I can add that in. Thank you so much! 

I don’t currently have the funds to do that, and they were complaining about the cold initially so we turned the heat up for them but they’re still leaving windows open regardless. 

Well my house is very old and the heat comes through radiators. There’s no current way to separate it or lower the heat in just their side of the house. We also do tend to keep the thermostat a little low. Plus they did complain about the cold during the winter so we turned it up for them. Of course now I know that it’s probably because they’re letting all the frickin’ heat out through the windows. So. I’ll probably just address it directly, my hesitancy is more on the legal side of things ie how do I enforce them keeping the windows closed. 

Hi everybody! 

I have an issue that I need help figuring out how to address. I have an apartment that’s attached to my house and I’m renting it out to two tenants (a brother and sister). They’re pretty good tenants overall, quiet and don’t cause trouble. But I’ve recently noticed an issue; they leave windows wide open for hours (if not days) on end in the middle of winter. This is a problem because we have a gas heated house and it’s very expensive. We didn’t include heat in the utilities we’re charging them for, which was one of the appeals we used to find tenants when initially listing the posting. But they’re wasting all the heat and letting it escape out the open windows. Since they’re not paying for it, I’m assuming they’re not considering it an expense of theirs but it is an extremely large expense for me. 

I’m not sure how to address this; it’s not exactly like I can force them to keep their windows closed. So I don’t even know if it’s something I can even bring up. I’m considering adding the heat to their existing utilities charges this coming fall (since winter is basically over at this point for my area) and just letting it slide until then. 

I’m also experiencing another issue with them that I’m not sure how to address. 

I can smell a very strange odor coming from their upstairs rooms (again, their apartment is attached to my house) and it’s so strong that it’s coming through my guest bedroom and even into my landing. It doesn’t smell quite like marijuana and I know the male tenant smokes but he’s kept it outside, as required by our lease agreement. I can’t figure out what the odor is and I’m not sure how to bring it up. Is it just my nose being sensitive to their smells? I know everybody’s house/furniture/bodies have their own unique scents but this is far too strong to be anything like that. 

Any input to either issue would be greatly appreciated!! 

Sincerely,

Emily

Hi James! Thank you so much for getting back to me! Parties and drunken students breaking things was definitely a major concern for me. I didn’t consider the other side that the parents/students might want to fix their record and end up paying for the damages. Thank you for that excellent point! 

Have you encountered any major damage over the years? IE structural damage or major plumbing/electrical damage? 

Hi Jonathan! So many great points here! Thank you so much! I’m definitely going to be looking into a local landlord association. 🙂

I’m pretty worried about partiers, like you mentioned, and that’s one of the biggest reasons I’m hesitant on moving forward with college town properties. Is there anything you’ve discovered over the years to help combat this or somehow control this a little? I was thinking maybe a duplex would be best (separation of tenants, less chances for large and destructive parties) but I know that’s not always possible with available properties on the market. 

I really appreciate you taking the time to send me your feedback!! 😁

Hi everyone! I hope you’re doing well. :)

I have a question that I was hoping to get some community feedback on. I’d love to know from any of you who have rental properties in college towns; what are the pros and cons for being a landlord with college student tenants? What are the vacancy rates, typically? 

Are there any major pitfalls or turn-offs that outweigh the potential benefits? 

What about subletting? 

And do you include any specific details in the lease agreements that you wouldn’t typically include with more permanent tenants? 

Any feedback is greatly appreciated! 

Hello! Quick question for anyone who will know. 

What's the difference between the book "How to Invest In Real Estate: The Ultimate Beginners Guide to Getting Started" and the book "The Book On Rental Property Investing"? Does the new one replace the old one, or are they different altogether? 

I'm trying to get into the real estate investing game and am looking for a comprehensive guide/walk-through on different investing methods. I'll eventually be getting both (and more) but my question is really which one should I start with?

Thank you very much! :)

Does the new book called "How to Invest In Real Estate: The Ultimate Beginners Guide to Getting Started" replace the old one titled "The Book On Rental Property Investing"? And does anyone know if there's going to be an updated "Tax Strategies for the Savvy Real Estate Investor" book that includes the latest changes? 

Thank you very much! :)