All Forum Posts by: Kelly S.

Hi BP community-

Does anyone know if there is an insurance company that offers coverage to pay for repairs to rental properties? Repairs for rental house issues such as plumbing or appliance repairs? Regardless if the repair is needed from normal wear and tear or caused by the tenant?

Just wondering if such insurance exists.

Thanks!

Kelly

Thank you everyone for your input. The AC unit I'll admit is not brand new, however it was in working order and has been serviced regularly to maintain it and make sure that it is not in disrepair. I  can deal with not holding them responsible for AC...but the other 2 are clearly their fault. Is the best option to deduct from their deposit? If so, should I tell them now? What about if repair needs keep coming that are cause by the tenant? How can I draw the line with them? Is there a tactful and legal way to bring up this repair issue before more occur?

Thanks!

Kelly

@ Nat Chan

The repairs were:

Door lock broken

Kitchen sink needed snaking because of excessive food sent thru disposal...think she clean out the whole fridge and dumped it down the disposal...pipes completely clogged with food. Disposal was working fine prior to move in.

AC repair from them trying cool house too fast and cause the compressor to break and need replacement. Again...AC was in good working order.

Kelly

Hi BP community!

We have been landlords for many years, with multiple properties. We haven't had this issue before and we aren't sure how to handle it. Any advice would be helpful and appreciated!

We have new tenant who has been in the property less than 2 months. Already we have had to make 3 repairs each costing more than $100...all clearly caused by the tenant. At what point do you draw the line with them and say that any future repairs need that are caused by you are going to be paid for by you? Or say this will be deducted from the deposit? They have a 1 year lease and have even considered letting them out of the lease early. The house did not have any repair issues before they moved in and my phone seems to ring every other week with another problem. I'm afraid that we are going to continue to have problems. We do a through check on all tenants before hand and these tenants are professionals. We really would like to say something to them before another repair is needed but don't know how to put it tactfully and legally.

Thanks for your help!

Kelly

Hi BP community! 

Has anyone worked with Realty Shares for funding your investment properties? If so, can you share your thoughts and experiences with this company and/or this type of fund?

Thanks for any input-

Kelly

Hi BP community!

I was just wondering if anyone has used "The Funding Company" to obtain financing for investment property( SFH or multi-unit).

Any feedback would be greatly appreciated.

Thanks!

Kelly

Does anyone know of any private investors that offer decent rates with less $ down in NC then traditional lenders?

Hi BP community!

I'm looking for some creative financing ideas to purchase a duplex with little to no money down, owner financing is not an option.

Any ideas?

Thanks!

Thank you everyone for all of your input! It is greatly appreciated. A lot of good advice from you all. I'll be reviewing the current lease we use to see what it says about noise, etc...and I won't let their ages make me automatically want to rule them out, they might be great and responsible tenants.

@Steve Combs thanks for your input. Your right about not having to worry about the issues kids bring...I'm just worried that they will act like big kids and cause more damage. I just want to try to protect us from excessive property damage. These guys could end up being great tenants, and don't necessarily want to lose them on fears of them throwing big parties.  I just don't know if there is anything we can put in the lease or otherwise to help prevent them from throwing parties.