All Forum Posts by: Shane Moss

I'll make two assumptions:

1. You have the rental in an LLC
2. The cash you have for payoff is in your personal account

If these are both the case, one thing to at least think about is how the payoff will increase the net worth of your LLC. Of course this isn't a good thing if the LLC is ever sued.

Thanks guys! I agree, I think problems with an adult tenant can be worse. Again, I just simply don't have much experience with young children. I don't have close family or friends who have young children.

In any case, it looks like I won't be renting to this couple anyway. Their background check was not very favorable. There were too many issues with past landlords.

Scenario 1: The wood floors need to be refinished because dog urine has ruined them and the pet deposit doesn't completely cover the damage. Can part of the security deposit be used to cover the rest?

Scenario 2: You have holes in the ceiling and walls (obviously not from pets) and the security deposit doesn't completely cover the damage. Can part of the pet deposit be used to cover the rest?

None of these cases have happened to me, but I'd like to know how this works in case I'm unfortunate enough to be in a situation like this.

Thanks!

I've got a soon to be married couple with a 2 year old wanting to rent my 2 bedroom property. I faxed off their background check earlier tonight. I was just curious what the average experience seems to be with children around this age. I don't have kids myself, so I can't honestly say I know what the typical 2 year old is capable of doing to a house, but I'm worried. I've got wood floors that were just re-finished, so spills I'm guessing won't be a big deal. The stuff that comes to mind immediately are issues with walls and scratching the brand new kitchen cabinets that were just installed.

Thanks guys. You all make good points. Sounds like it may not be worth the potential pitfalls that could come with it.

That crossed my mind, but I think a tennant would have already put some trust into the landlord. I mean we have all their info and get a check every month with an account number. Now, a total stranger, yeah, I could definitely see that.

For those that don't know, a new company called square up allows you to take credit card payments using your cell phone and a card reading device that plugs into the headphone jack. There are no monthly fees and no application to fill out. You are only charged a small transaction fee for each swipe. You can also manually input the card number into your phone, but the transaction fee is a little higher.

When I set-up my account months ago, I attached it to my personal account because I did not have rental property at the time. I didn't really need the thing, but I thought it would be cool to use for those times when you're trying to split a bill at dinner with friends. Anyway, now that I'm in the rental business, I was wondering if I should offer my tennants the ability to pay their rent plus 3.5% (the maximum fee charged by the processor) with a major credit card. My biggest concern is that they'd use it to pay for the rent that they otherwise couldn't afford. I'd hate for it to bite me in the butt later down the road when their monthly credit card payments become unmanageable and they can no longer afford rent.

What do you guys think?

I agree with you. I just got a call tonight from a women that saw the ad on Craigslist and wanted the actual address for a drive-by. My thought process was the same. Most theifs, I think, aren't going to be so bold as to ask for the address and then rob you.

Thanks for the older posts Uwe!

Should I be concerned with posting the full address of my vacant rental property on Craigslist? I see a lot of people on Craiglist only specify street cross-sections. I'm guessing this is for security reasons, but at some point you have to show the property or give the address to a caller who'd like to drive by and see it Although, I guess doing it that way creates more work for a would-be-thief therby making it less likely to be vandalized.

What is your opinion?

I used this stuff to try and get rid of millipedes. It didn't stop them all, but I had quite a few dead ones where I sprinkled the stuff.