All Forum Posts by: Lauren M.

I'm trying to return security deposit to previous renter. The first check just disappeared- renter claims to never have received it and it was never returned via post office. I put a stop payment on the check. Got new address from tenant. This time it was returned because the address was incorrect. How many times am I required to keep sending it? Thoughts on what to try?

Do you use an independent contractor for flooring installation or do you use a big company for flooring purchases and installation? Any good deals on vinyl plank flooring and carpet? I would love to hear your process for the flooring aspect of prepping a rental!

We need to buy all new appliances for a unit we updated. Does anyone have a go-to appliance bundle package that is reasonably priced? We would need microwave, dishwasher, refrigerator and oven/stove combo.

We bought a junker of a rental property that we hoped to renovate to improve rental income and equity. The tenants moved out. We do not know the prior condition of the property before the current tenants moved in, but there were broken panes of glass on the windows, piles of hidden trash on the side of the house, etc when they moved out. The tenants could easily say it was previous renters. Since we do not know the state of the property before they moved out, what are we legally allowed to keep to pay for these items? The tenant also asked over text message how much they would be getting back and we stated a number. Since then, we found the crawl space area has a lot of items and junk that we need to dispose of (again, we still wouldn't be able to prove if it was the tenants that just moved out or the tenants before them). Could we change our minds and deduct more money since we found junk that needs to be disposed of?  

@David Dachtera We have four units total, bringing in a range of $600-$1250 each.

Does anyone use Quicken's Rental Property Management software? What other software is out there for tracking rental income and expenses that you would recommend?

What is the correct way to install laminate floors? Should all baseboards and door trim be removed before laying the floor and then you add baseboards back after the floor is installed? Or is it okay to add the flooring without removing the baseboards and add a quarter round after the floors are laid? This is for a rental property and it seems tedious to pull up all the baseboards, but we don't want to cut corners either...

Do you provide a microwave and/or dishwasher in your units? We will be gutting the current kitchen and we are trying to decide if we should add a microwave mount over the stove and a spot for a dishwasher. It's between a B- and C+ class and is a duplex. 

We will be rehabbing a property that we plan to maintain as a rental.  Is it better to put in a pre-fab tub surround or use cheap tile? What will have the fewest problems/maintenance issues considering this will be a rental property? What would be cheaper to install (either DIY or by a contractor?).

I've prepared our taxes for years using software like TurboTax. Our tax situation is pretty standard, but in addition to a W-2 from my husband's employer, we own two small "businesses" - a freelance company and a real estate company (both are sole proprietorships). This year we purchased another investment property. My questions:

1. At what point should we hire a CPA to do our taxes?
2. What are items to make sure I document if I prepare our taxes for 2016? Our lender for the rental property we purchased in 2016 told us there is a big tax deduction for our purchase and gave us a piece of paper that he said our accountant would need. Any other items to make sure to include or watch out for?