All Forum Posts by: Steve Q.

Howdy, 

Anybody have success finding affordable insurance for short term rental such as Airbnb?  Specifically I'm looking to make one unit in a four-unit building short term, the other three would remain long term.  This is proving difficult to find. I talked to someone at Proper Insurance a few months ago and they needed at least half the units to be short term. They also did not have any coverage for renting out rooms individually on Airbnb, only full units. 

Thanks!

Hello,

Long story short:  Tenants didn't pay last month's rent and damaged carpeting with smoking (prohibited in lease) and other stains, left significant junk to be cleaned out and some other damages.  Prorating the new flooring at 50%, they owe about $2000.  Entire security deposit of $1000 is gone to the unpaid rent. 

I need to send the official security deposit letter within 20 days now. Do I list all the damages exceeding the deposit? Or just put "$1000 - unpaid rent." and leave it at that?

Longer version:

Newly purchased multi-family in RI. I inherited hostile tenants who had been given notice to move out of the unit which I needed vacant for my owner-occupy loan.   They refused to communicate much and did not pay their last month's rent, saying I should use the security deposit. Then of course they left the place damaged and a mess, though at least they did move out at the end of the month, but I have no security deposit and they smoked in the unit. 

I had filed for a court date for the unpaid rent, and after they moved out was advised as such: to not go to court so it would be "passed" and stay on their record. Should they want to remove it from their credit score, they will need to contact me and at that point I can ask for some money towards the damages they left in exchange for dismissing the case.  

Now, after assessing the damages, it's quite a bit.  $250 in professional cleaning for trashed apartment. I spent hours removing junk, full fridge and freezer, trash, storing some belongings. (Can I put a monetary value on my time removing junk?) Broken closet doors, some keys not returned,  broken window blinds.

I have ample evidence that they smoked. Have been scrubbing walls and will need to paint. Had to rip out carpet. New floor cost about $4000.  

I don't have any interest in speaking to these people again as they were rude and unreasonable. However, I'm out a chunk of money and a lot of time cleaning and inconvenience living out of  a suitcase waiting for the apt to be ready. 

Should I list the damages on their security deposit letter, explain the court record on their credit score,  and invite them to pay me the security deposit back and call it even?  (They will only see it if they have forwarded their mail. They left no address.)

Should I send it to collections?  (I don't have any move in check list or pictures, just pics of how they left it and proof of smoking.)

Or do I just list that the security deposit went to the unpaid rent and let them figure out the credit hit down the road?

Thanks!   

Hello,

I'm buying a four-unit in Pawtucket, owner occupied. I'm trying to find the best insurance option and it's getting confusing.  Allstate gave me a great quote if I bundle with my car, but their car insurance was double what I'm paying with Progressive right now.  Progressive gave me a decent quote on the house with the auto bundle.  Amica and Nationwide came in high.   

Replacement value is coming in around $450k to $550k.  And best quotes are around $2300 per year without the auto discount. Anybody doing better than that on a similar property?  

I'm thinking I'd like a broker to run a bunch of different companies and find the best deal.  Any recommendations on finding that person?  I tried one off of google and she came back with one small company with a ridiculously high quote. Useless. 

Thanks for any help.