All Forum Posts by: Mike Howard

I am curious about the Buildium workarounds for Section 8. We adopted Buildium this year and now have a 40 unit 100 % HUD property under contract. We need software that can do the TRACS reporting. Yardi has been recommended but we prefer not to invest in another platform, if Buildium will do the job.

Thanks Steve for your thoughtful response.  I like the idea of a separate agreement to purchase.  I will certainly talk with my attorney about his approach, but that seems to be a viable method.

Who has experience in rent to own or lease/purchase options in KY?  Anytime I advertise a property For Rent, I immediately have numerous inquiries about Rent to Own.  I like the idea of getting a decent down payment vs. a rent deposit.  My attorney, however recommends that I avoid this since the local courts tend to look at this as a purchase, which could result in a lengthy foreclosure process when things go south.  She advises that eviction is much quicker and simpler to implement.  Is there a way to structure this in KY, so that I can get a down payment but avoid the lengthy foreclosure process, when the tenant is not able to close on the property?