All Forum Posts by: Melinda Miller

Hi Andrew 

We have a 4 fam in Carondelet (South St. Louis) with 3 1br/1ba and 1 2br/2ba. 

Here are our actual utility costs, monthly. 

A long-time tenant does the grass for $40, weekly in spring, 2x month in summer. 

Hope this helps. Your mileage may vary, but this should be close.

Good luck!

We rented to a woman in the 'entertainment' business. No W2. Best tenant ever. 

Mark K. Agreed - easier to collect more $$. We are nearby and always out anyway. We also have bookkeeping down to 5 minutes a week. The reason we went weekly with one guy is that his late fees had snowballed out of control. A good tenant otherwise (quiet, clean, employed), so we are working with his lifestyle/culture instead of against it. Win-win. 

We have a class C 4fam in Missouri with inherited tenants. This crowd can't remember from one Friday to the next what they are supposed to do. The weekly thing works. It sounds like 4x the legwork but it's better than revolving door evictions or constant cash for keys. We have more options AND we paid. 

We also have a building full of nonbankers. We have had good luck with Cash App. Its free, up to a point. What that that point is I'm not sure, but I doubt we will ever reach it. It works well. 

I have a question to who give the tenants deposit slips. How do you handle it when they deposit the incorrect or partial amount? 

Thanks Kurt for your detailed explanation. I appreciate all your help.

Sorry about the duplicate post. I didn't realize I did that and now I don't know what to do about it. Good question about the ceiling height. Thanks for making me think about this. Half the area is about 7' 6" at the peak. The other half is over 7' ish for pretty much the whole thing. So it's close but ok I think. 

I would like to keep the look of the sheathing but I would also like to be Queen of the World.

Somebody I wish I could tag him here mentioned a radiant barrier. Any experience with that?

The rafters are definitely 2x8, 14-16 o.c. I was guessing about the oak, so I am sure you are correct about that. This was built in the late 1920s, is brick and plaster, 1 story (+ basement & attic) on a stone foundation.

The property is in the City of St. Louis, where codes are enforced inconsistently at best. I've tried the foam board in other applications-could have used tissue paper instead. 

I believe the rafters are 2x8 oak, but I could be way off base there. Since the ceilings are peaked and 7' at the center anything of any depth cuts it too short. The floor is already mostly insulated and decked. Not sure I'm ready to give up on the aesthetic. It is a visually stunning space with great light and old school character. 

Thank you Shaun, Bryan, and Arlan for taking the time to reply. Looks like I might have a 2-season bonus room on my hands. Oh well. Thanks anyway.

Best, 

Melinda