All Forum Posts by: Matthew Defore

Hmmm... those are certainly good ideas, but it doesn't seem like it follows the true rent by the room approach. From what I'm gathering, you are saying that you don't recommend it. The rent by the room material that I have found would take that you essentially treat a 3 bedroom SFH as a tri-plex with a common area and lease each room as its own property. Yes, this adds considerable management interaction and has some nuances to address, but I'm curious about it on the cashflow side. Any thoughts?

Who's renting by the room on their properties? I'm interested in experimenting with this on one of my condos in a college town.  My questions are:

-How do you try to pair up compatible "roommates" without having fair housing law issues?  I'm concerned that if I do the regular first come first serve method, I will mismatch tenants who will conflict with each other. 

-How did you approach utilities?  I'm considering charging rent + a flat fee each month for utilities + charge any overages to the tenant if they exceed the prepaid amount (divided evenly among the three rooms).  Is this worth the headache, or should I just cover utilities outright and up the price?  For those who pay utilities, did you install a nest thermostat that will allow you to monitor it remotely to ensure that they are not taking extreme advantage of the flat rate fees?

-I'm planning to lightly furnish the common areas, but not the bedrooms

-In your experience, how much easier is it to fill vacancies with quality tenants on rent by the room compared to traditional renting?

-In a college town, there are often advertisements for informal subleases and such for students who leave mid-semester or otherwise.  How can I compete with the informal subletter?

-Any suggestions for extra language in the lease for rent by the room? I'm thinking of some type of fee-based incentive to enforce quiet hours after 10pm, etc. 

How would you guys handle this problem? As you can see, the ground is washing out from under the patio.  For now, I have a scissor jack supporting it from underneath.  However, even without the scissor jack and the bricks, the patio does not move when you stand on the edge of it. 

I have an appointment with one of those foaming concrete companies to give it some support underneath it, then I would like to build a series of 12"-18" retaining walls stepping down from the patio to get rid of the slope, and hopefully the washout. 

Any ideas?  Is there a way that I can get ahold of some foaming concrete product myself? 

 Can you change the countertop color/design by glazing?  How much do you typically pay for glazing?

Could you share you experience with resurfacing kitchen countertops for rental properties?  I've studied several YouTube videos and the process seems quite achievable, however my concern is that many of the products ask for "no countertop use" for up to a week after application.  Given the necessary 3-day window to complete this project, plus an additional week after installation might be pushing it on my turn-around window.

How do your experiences compare? 

Who has experience with this product?  The youtube videos make it seem pretty easy.  How does the quality compare to the old fashioned tiled back splash?  Is peel and stick too good to be true?

I have my first opportunity to take a private money loan from an acquaintance.  This will be a first for the potential lender as well.  I am still kicking around the idea, and I want to learn more about the concept first.  My first question is, how formal is a private money loan under these circumstances?  Is it as simple as receiving money from the acquaintance and repaying it according to the terms that we establish?  Can this be an agreement written between us, or is there any regulation involved?

I have a condo that is mortgaged through AmeriHome Mortgage as of two months ago.  I purchased full dwelling coverage for this unit through a large reputable insurance company. Last month, I received a letter from AmeriHome, stating that my insurance is not satisfactory and they will be providing their own expensive insurance if I do not correct the issue.

I called customer service and they advised that the problem is that I have a condo, but I have not provided proof of "blanket coverage" from the condo association.  I explained that my condo unit is a detached, freestanding dwelling and it has no shared walls or roofs, therefore there is no blanket coverage from the association.  They made a note, and asked me to allow 48 hours for review.

I called back a few days later, and I got the same endless circle of demands, that I need proof of blanket coverage.  I re-submitted my policy along with a letter from my insurance agent explaining the situation.  Please allow 48 hours for review.

I called back. Same problem. So I sent the HOA docs, which explains the insurance responsibilities. I asked to speak to the person who is in charge of making this decision and I was told that they don't communicate directly with the insurance review team, they only leave notes for them. Please allow 48 hours for review.

I am calling back Thursday and I fully expect to get the run-around again.  How would you get through this issue before they purchase their own expensive plan?  I am starting to get a tad frustrated. 

Thanks @cara kennedy!  Has anyone looked at the other pics to give an opinion if it's snake holes? 

@Jill F. How durable is the Daich Countertop coatings? That looks like a great alternative to replacing the counters.