All Forum Posts by: Samantha P.

@Connor O'Brien

I will definitely post an update. Thanks!

@Kristyl L. Isaacson

Yes it's a licensed daycare. Yes it's legal as long as she doesn't go over the maximum amount of kids for the space. Her lease says the property is only to be used for residential purposes though.

@Jay Hinrichs

I actually did so a lease addendum as soon as I closed saying what method she should use to pay me her rent each month and stating that she has no security deposit. She signed it and I have it on file with her lease. So she knows she has no security deposit and it is in writing with her signature.

@Vincent Incopero

Im going to reach back out to my attorney and see what i can do. Thanks so much!

@Mike B.

Yes please PM me. Thanks so much!

@Mike B.

So in this case, what will suffice to show that she did use up her security deposit? And now I'm concerned that my lawyer let this slide at the closing table.

okay, will do. Thanks!

I still have more questions. Like, what if the tenant doesn't pay the policy and it lapses? What happens when they move out and there is damage? Do you make the policy extend beyond the lease?

@Kyle Mccaw

Since the policies are anually. How does this work if a tenant stays there for multiple years? Do you just add be additional cost to their rent? Or dobyou have them purchase another policy with the signing of the new lease?

@Kyle Mccaw

Valuable info! Thanks so much!