All Forum Posts by: Jennifer Rysdam

I would just bring the form and brochure to them. Tell them that you forgot to give this to them, and that there are no issues that you are aware of.

I don't think the price you are getting is unreasonable. The local market has shifted and your price reflects that. Nobody is forced to rent from you if they feel it's too much. I agree with the previous poster that this probably isn't going to be a long term rental anyways, so this extra will just add a cushion to your turnover costs. Your heart is in the right place, and none of us would want to pay extra because of a disaster, but that's how the market works in those cases.

Best wishes, happy holidays, and thank you for your service!

I just use QuickBooks. I have it linked to my bank and upload every few days, apply things where they go, and I'm done. One the 23rd of each month I go in and invoice all of the tenants (I have an 8-plex), which is directly sent to their email. Then they have the option of paying right through QuickBooks via ACH, dropping a check in the rent slot in the building, or depositing cash right into my account at the bank.
At tax time I can print out Profit and Loss for my taxes and get the info I need for the rent tax forms for the tenants. So far so good.

I use the vinyl plank in my rentals and it looks great. I guess it would depend on your plans with the condo. Are you going to rent it out or resell? The hardwood might appeal to buyers, but the vinyl would be more durable for renters.

I would send a text or call to the renters upstairs that the neighbors downstairs are getting woke up at night from foot noise and anything they can do to help with that would be appreciated. I would also text or tell the tenant downstairs that air purifiers and box fans are GREAT for noise issues. I had one that was complaining that her daughter couldn't get a good nap during the day because of noise. I told her that noise is part of living in an apartment building. It's like living in a house full of people. I told her about the air purifiers/fans and it worked great for them. 

With 6 kids, I've been using them for years to get babies to fall asleep and stay asleep.

While I appreciate your generosity in helping people out, I would say no way. That's not only too much risk, but you'll really upset the neighbors while you're at it. Not many fears as a parent compare to having a sex offender living near your home. I try hard to keep my neighbors happy. That way they keep an eye on my property for me because they like me. 

What if he's makes meth in your house? That's something you may have to disclose later when you sell.

I do background checks on all of my tenants. I'm not sure if you do, but he'd never qualify to live in my rentals.

I prefer 30 year. I'm not locked into the larger payment. I can pay more if I want to. I have more free capital to invest in the next property. 

The higher your debt payments, the less money you have. I like to let the bank hold the debt while I buy more properties with my money.

Good luck!

Read, read, read! If I could go back in time, I'd have bought a multi-family when I was younger and house hacked. I would have lived in it and managed it. I can't even imagine where I would be now if I'd have done that. Not only free or almost free living, but very low down payment because of occupying it. Read this. Good luck!
https://www.biggerpockets.com/renewsblog/house-hackingcase-study/

I just use QuickBooks online.

You're in Florida. I would change it at your earliest convenience. Not only will the tenant appreciate having a newer one, it may be quieter and more efficient as well. The middle of summer, when it will be sure to die, you may pay a lot more for faster service. Not to mention the multiple phone calls you will probably get from the tenant while they are waiting for it to be fixed/replaced.