All Forum Posts by: Jennifer Allen

After collecting tenant pass-throughs for the year, do you pay the property taxes at the end of the year or the beginning of the next year?

The benefit of paying the following year is the interest income accrued. However, when you do the annual reconciliation, the property taxes would not show in the current year. How do you typically handle this?

My commercial tenant has requested a W-9 form from me. The property is owned in a single member LLC. I have an EIN for banking purposes for the LLC. However, the W-9 form specifically states that I should not use the disregarded entity's EIN. What are the steps to apply for an EIN online as an individual? For instance, do I select sole proprietorship or LLC? Has anyone done this?

How much cash reserves should you keep for a triple net lease? Do you try to cover your monthly expenses for X months for when you have to find a new tenant? Do you base it on the building cost or size? I'm trying to figure out how much money I should keep on hand so I don't have cash flow problems if a tenant moves out.

Thanks.

I live in Texas and own 2 homes in Ohio. The first property management company I used wasn't very good, so I switched. The first property management company did not tell the new company about a utility account they had opened. They continued to receive bills. They did not pay them, or notify the new management company or me. The account was sent to collections and it is now on my credit report. I've contacted the collection agency. They say they only remove it when it is a case of identity fraud. Is there anything I can do?