All Forum Posts by: Hunter Copp

If you have a 3br & 3bth townhome and the new potential tenants are four friends who want to share the bedrooms, is there anything in violation if you rent it out to the four and let them share the rooms. Is there anything against four tenants and three bedrooms? 

I have just repair an issue with the upstairs toilet that led for the overflow to leak through the ceiling and into the downstairs living room. The tenant had placed baby wipes and other things down it causing a massive clog and a plumber had to called, which cost $400 due to the magnitude of the clog. As the landlord I got it fixed, but am I liable for the damages to the house because they caused the water to overflow through cracks and get to downstairs? Are these kind of issues covered by the deposit? Thank you for the time and help. 

@Jesse Szakacs

In my own experience, being from Hawaii and owning real estate in Texas, it is important to have asset protection. Currently they are owned in name and have just found an insurance company to cover the asset which includes liability insurance as well. I think it is a personal decision on what you decide, but I would defiantly call around to see the coverage you are able to get with different insurance companies.  

So we inherited tenants from the previous owner and now have to get the HVAC unit replaced because the dogs piss left a whole in the outside unit, causing Freon to leak out. This has prevented the unit from being replaced due to significant damage. Its an older unit so we decided to get a quote from a company and they came back with the cost being around 5K to replace. Prior to this we had two more companies assess the unit and stated that the significant damage to the unit was caused by the owners dogs. After getting that info we decided to spilt the repair cost with the tenant, 3000 for the tenant and 2000 for us due to the unit being a little older. She said she wouldn't be able to pay that right now, so we offered to come to 2.5k and are open to payments. How would you pursue this situation and what different options are there to try to get as much of the money for the cost of repairs back, so its not fully out of pocket? On top of that she only paid half of the current months rent and not the utilities, stating she would get the rest to us by the 15th. I am based out of Waco, Texas and was wondering the rules on that situation and the process for eviction if it comes to it. 

So the other day I came across a duplex that costs 359,000. It is currently rented for $1000 each unit due to Covid, but is pre-leased for $1700 until July 2022. I would have to put 20% down and closing costs so in total I need about $79k in order to make it work. After running the deal there is about $500 cash flow. How would you get the money to make the deal work?

So I will be planning on renting out 3 bedrooms to college roommates for a house hack. I was wondering when signing the lease with these three roommates, do you have them sign and then have a co-signer if they are not the ones paying the rent? For example there parents would be paying for it. Do I get the parents signature on the lease agreement? Thank you.