All Forum Posts by: Monica Corbett

Thank you everybody for your responses. I appreciate the different perspectives!

Thank you, that is what we were thinking too. If she can't come up with a local co-signer who meets all of our standards, then we will deny her. Thank you.

Hello, 

We just had a potential tenant apply and she meets all of our minimum tenant standards except she has one account which appeared to be a revolving credit that a collection agency purchased and the status is "seriously overdue." She is current on all other accounts, but there are 2 other accounts on her credit report that says closed and purchased by another lender, but I do not see them anywhere else on the credit report and they are from 2015. So we denied her due to her credit report but gave her the option of getting a co-signer. 

My question is, would you consider an out-of-state co-signer? Also, do you think I am being too cautious rejecting her based on this one account that for all I know she could be working on settling? And what about the other 2 accounts? What is the likelihood that they would try to collect after a couple years? And how would I know if she has already settled that debt or not?

She is concerned that she will not be able to come up with a so-signer and has offered to pay for a whole years lease up front. My gut says that this is a bad idea. Does anybody have any experience in collecting the rent all up front? 

Thank you.

Great idea @Account Closed! Thank you for the reply 

Hello, 

In my area the city will not let tenants have their own water/sewer/trash account. The owner of the building must be the only name on the account. I now own 2 duplexes in which all units are metered separately. All leases say that the tenants are responsible for paying all utility bills. 

I live in one unit and until now had been handing the bill to the tenant who lives next to me and allowing him to handle his bill. I recently purchased the other duplex and have just received their first water bills. I have been doing some research and many people recommend paying all the bills yourself and then billing the tenant to compensate you. I would like to do this as I understand I am personally responsible for the bills. 

However, I need some advice. I have read that if they tenants see that the landlord's name is on the bill they will feel less obligated to pay, so what kind of template are others using to bill the tenant? Are you providing the tenant with a copy of the bill and then asking them to pay you? If not, on the letter you send your tenant are you breaking down all the costs and consumption such as it states on the original bill or are you just giving them the total cost due?

Thanks!

@Tom Mole My husband has the pro account and cannot figure out how to post the pdf analysis that he has on his account to the forum to ask for opinions. He is at work now and asked me to try to figure it out. Thanks!

Hello all, 

My husband and I are interested in a deal and have used the Bigger Pockets analysis software to evaluate the deal. Is there a way to post the pdf of the analysis here to ask for advice?

Thanks!

@Karen Margrave excellent advice! I was just wondering about this myself. 

Hello all. I am looking for a RE attorney in Toledo, OH that can help my husband and I set up an LLC with an operating agreement and review/set-up a lease for potential tenants.

Thanks!

Thank you everybody for the responses!