All Forum Posts by: Nkechi Jarvis

If you pursue #4, how much do you plan to sell it for?

Hello @Chris Tighe,
Zoom meeting sounds great. We're still considering building.

 Thank you so much for your response! Very enlightening.

 Watch the Bigger Pockets Podcast Episode 689 by David Greene and Rob Abasolo -  Follow the link below:

https://youtu.be/OAGIc3GWuEs

I believe you may contact the CPA on this podcast, he provided very useful tax information and may retain your services!

Hello BP Community!

I am new to landlording here, I just received my first request from a traveling nurse for housing  through Furnished Finders- the request is for a fully furnished house, utilities included for month to month lease up to 3 months. I hope to set up the lease through Keycheck - I signed up with Keycheck through Furnished Finders, for background check, signing lease agreement (for additional cost through keycheck), and rent collection by stripe on Keycheck platform.  

How do I include an addendum regarding the allowable amount for utility cost after which the tenant has to pay the balance? I would like the tenant to get renter's insurance - is it possible for MTR to obtain renter's insurance? If so, any suggestions of insurance companies that issue renter's insurance for MTR? What should I do if the tenant declines to obtain the renter's insurance? What additional Landlord insurance can I get to cover my LLC as the home owner's insurance will not cover rental? The lease will be between my LLC and the tenant, even though I own the property under my personal name.

Can I contact the nurse's staffing agency or employer for a reference? Some people say they skip this as they feel the nurse has already passed all background checks before approval by their employer.

How do I deal with inventory/furniture in the property as I have heard how STR/MTR renters walk off with items used to furnish the house when they leave at the end of their lease?

I plan to ask for one month rent and one month refundable deposit, even though when I checked on Furnished Finders to see how other landlords advertised their rentals, the amount of most refundable deposits appear to be less than the monthly rent.  Is this the case for month to month lease? What if the renter requests to terminate their lease before the end of lease term for any reason, should this be included in the lease?

What else do I need to cover on the lease agreement to protect myself and my property? Any other useful tips are welcome!

Thanks in advance for your suggestions!

 Thanks for your reply. It will be a semi detached duplex. 

I will follow up with these.. thank you for your suggestion.

I have a vacant lot (40 feet by 108 feet) near University of Houston, Texas Southern University,  and Downtown Houston; and I have just recently re-platted the lot as two separate lots (each is 2,160 sq. ft. UNIT A & UNIT B) to build a duplex. My initial intension for re-platting a lot of this size was to be able to sell one unit if the need arose or to rent out the units as fully furnished mid term rentals, including utilities. I am concerned about the cost of building materials.  Initially, I thought of building a three story duplex but found out that the cost would make return on investment very challenging. Any suggestions about floor plans on small lots for two story duplex?