All Forum Posts by: Akeim Fin

Is there a particular model of the Schlage Encode that you use? I am currently using Schlage and running into the issue where I have to change the batteries every 2 to 3 months I’ve tried all kinds of different batteries. This is in New England what are the temperatures can drop very low during the winter. I don’t need WiFi as their is no internet for me to connect to. Just want something to minimize lockouts and allow contractors to get in 

Hello everyone, I am looking for a recommendation on a lock for keyless entry. The lock I am currently using at one of my properties dies very frequently and I’m trying to avoid the same situation on a new property. This is going to be for a common door at a multi family, so it will be use quite often. Any recommendations?  I will not be living their so I dont know if I will need WiFi. Just looking for something that can hold multiple codes. What do you guys use ? 

Looking for your input on different flooring options for one of my units. I know the de facto option for investors is luxury vinyl plank but I’m curious if this is strictly because of price. I had a bad baseboard that caused a flood soaking my hardwood floors in a unit I’m house hacking. Now insurance will cover like kind witch leaves me with allot of options and no additional out of pocket cost. What’s your Opinions on Engineered hardwood or bamboo floating floors in a rental? Is their any appraisal/ appreciation considerations I should keep in mind? This is my first insurance claim so any guidance/tips will be welcome.

Thank you

Hello all,

What is your experience with “blackout dates” in a month to month lease? For example some verbiage in a lease saying you will be charged x fee if you move out between Nov-Feb or you can’t move out between Nov-Feb . I have always used 1 year leases to avoid winter move out but ever lawyer I’ve come across strongly recommends moth to month. I see these blackout dates as a sort of middle ground. Does anyone have any experience with this. This will be for proprieties in Rhode Island but any feedback is welcomed. 

I know I know You are not a lawyer/can’t give legal advice. I’m just asking what’s your experience. Have you seen it, have you used it, how did it work?

If you are military I would also look at Navy Federal credit union. They can do up to 95% LTV. I was just about to do one myself when they stopped taking applications due to the Coronavirus but this is temporary.

If you do not see the check box that people are talking about, make sure you have selected For rent by: owner. Then it will appear. If you select For rent by: Management Company / Broker then there is no option to hide your phone number. Hope this helps. Good Luck!! 

TLDR: How do I charge for washer dryer hookup giving myself max flexibility? 

I have a gorgeous 3bd 1 bath that I have been struggling to fill. Currently there is no laundry and no pets. I am considering adding a washer dryer hookup in the basement. Can I charge them to use the washer dryer space? I don't want to put it in the  lease. I want something that I can easily stop if something goes wrong like they decide to wash their entire family cloths and the water bill goes $$$$. This is an owner occupied space so I want a low risk, hight flexibility option. Can I call it a fee and add it to their rent monthly. Seems like a silly questions but sometimes calling something a fee vs rent can have an impact if you have to go to court. 

I noticed you mentioned you are military. Can you use your VA home loan witch offers 0% down payment ?

I use one of the online services like renometer or cozy to get a starting point then adjust from their. Keep in mind that timing is a big part of this. I had a completely redone 1st floor gorgeous 3 bd 2 bath that I had to rent for 1200 because it was in the middle of the wintering and that was a struggle. Come summer time I was able to easily rent it out for 1350.   Sometimes taking lower rent is more profitable than keeping a place vacant for higher rent. Do the math to see how much time is costing you does waiting 3 weeks offset the cost? 

@Theo Hicks I also like to set the tone from the beginning and do this by listing on the ad itself my qual standards and that the app fee is non refundable. We also use cozy. It's  about $40 for a background check and credit score. Something to keep in mind is laws change and with mass being right next to RI, I would just be cautious that RI doesn't decide to follow mass and make charging for app illegal or something else that you may post on an ad.