All Forum Posts by: Wendy Man

RE Journal is reporting no growth in rent compared to 2021, and other places are reporting drops in Minneapolis rent.

What are you seeing?  For us, we have definitely noticed a drop even from Jun to July/Aug this summer. 

https://rejournals.com/an-end-...

Do you retain in the owner account some set working capital from your landlords (e.g. $500 per unit)?  If so can you immediately draw from the working capital immediately for maintenance expenses then replenish monthly when needed?  Larger expenses like roof seems like can be a direct pay by owner item.

Thank you for doing this. For rentals categorized as passive investments, it can take a decade or more (esp. With depreciation) before a property has a profitable year.

Would the hobby tax or similar apply in this case?

Why do you feel that you need to be present with the police?

@Kunal Lakhwani

Which company did you end up using and how did it go? We are also out of state so that info would be very helpful. Thanks!

@kunal

Which company did you end up using and how did it go?  We are also out of state so that info would be very helpful.  Thanks!

 How did you resolve this situation?

Agree maybe walk away.

If you choose to continue, maybe give the seller a discount for delivering vacant, offering the current tenants cash for keys, or something similar.  I am not sure where the 90 days are coming from.  If in the lease the seller can so give notice now. 

In all cases I would say make sure you can insure it.  Call some companies now.  But you already know of all these issues.   

@Peter Mckernan Than you.  You noted (one) unpaid tickets.  What if there are multiple?

Hi Everyone,

How much would you weigh things like previous: DWI/DUIs, unpaid or late-paid speeding or parking tickets, misdemeanors or gross misdemeanors for possession of drugs like marijuana (where it is not legal), when screening potential tenants?