All Forum Posts by: Luke Hoffman

@Scott Trench so I have to make a reasonable effort while they are still in there?

@Luke Hoffman I think I found it. It’s in the default section.

The tenant informed me that they will be leaving at the 8 month mark of the lease. I use bigger pocket lease form for Indiana. Where does it mention what happens if they leave early? Do I get the other four months of rent?

Has anyone invested in Evansville, Indiana? And who do you use for property management?

We have a rental in southern Indiana but we are looking to expand.

@Andrew Syrios I will definitely be adding a piece on financing. I normally just tell her what needs to happen.

@Sergey A. Petrov yes my wife stated what happens when you are on a work trip and something happens. I had no answer for her. So here we are!

Hello!

My wife has requested that we have standard operating procedures. I am currently writing them out. I have tenant move in/move out, maintenance, tenant screening, rent collection, turning over a rental, tax time.

What are the ones that I missed?

My wife and I currently own a rental property and plan on turning our primary home into a rental this year. I want to add a partner to help our rental business grow while my wife wants us to continue to fund it on our own. I have a partner who has expressed a lot of interest in being an investor. I need help determining whether it is a good or bad idea to bring in an investor.

Note: current rental cash flows 200 dollars per month after accounting for expenses and our houses projected cash flow is 200 per month if se don’t refinance. On the rental we have a 4k dollar bathroom remodal happening this month that we owe about 2.5k out of our own money (not rental) and just today the renter emailed us about a leaky roof.

@Dmitry Prosvi they have to call me before they do any changes on the property. So I was thinking I treat it like an inspection and do the work that they identify myself. Thoughts?

My renter wants to sign up for a local non profit winterization plan. They will come through and look through the property and update anything that needs done for free. They will also help the tenant cover the utility bill on an as needed basis (renter has 5 kids). Tell me why I shouldn’t have the non profit come and help with winterization of the house?