All Forum Posts by: Kim Livingstone

My mom's home was a 4 unit building, she lived in one apartment and rented the other three. She passed away and left the building, our family home, to me and my 2 siblings via a family land trust. The current home owners insurance company notified me that they need to remove her name and put someone's name in her place. They are unable to name the land trust as the insured. My one sibling currently resides in one unit and the insurance company suggests naming him on the policy and adding me and my sibling as additionally insured. Is this the route to go? What type of property insurance will protect both the property and my siblings should something happen to a renter, guest, general public or if we are sued? Please advise.

It's a building with 4 units. I don't know how old the child is. I would imagine under 12.

On what grounds would you deny this request? Just need some extra feedback.

A renter wants to hold their little sisters birthday party in the backyard of the property. Sister doesn't live on the premises. The building is quiet and all renters have been informed of this. The renter made the request in writing, per their lease, but I'm not comfortable with having kids running through the backyard or building. Has anyone experienced this and do you have any advice?

I understand Chase offers a Quick Pay account and service. Has anyone use this and can provide feedback?

Any advice on choosing the best system for collecting rent and paying bills? I'd like to have renters submit rent payments directly into an account and want to be able to produce tax documents at tax time. System should be able to pay bills, insurance, etc.

Thanks to all for your great advice!

I'm a newbie. What if you are the trustee and property manager/agent handling all of it? Should the Land Trust be named and under it have me as Agent? What are the pros and cons?

What if you haven't set up an LLC yet or hadn't planned on doing so,is it best to use the land trust name as the landlord?

Just a basic question. If you have your property in a land trust, what name goes on the lease?