All Forum Posts by: Patty Capson

I purchased a triplex in Aurora Colorado. I have hazard insurance and an umbrella policy.  Do I also need a landlord policy?  

I am giving two apartments a much needed update. Located in a transitioning area, however still a little bit rough around the edges. Using LVP flooring and painting the cabinets white...I'm stumped on what type of counter tops I should put in...I've been told not to over improve.  Also, white, black or stainless appliances?

I'm also interested in expanding my traditional rental business to the springs area, but I don't have a feel for the market there.  Any input I can get on that would be awesome.

I've considered buying a short term rental. How can I find out what the vacancy rate is in specific  areas?  I'm looking at the Colorado Springs area, would greatly appreciate any input.  

I have 4 properties, currently using Cozy.  I want more capabilities, looking at Stessa.  I tried Tenantcloud and felt it was too time consuming...What do you use and what are your likes/dislikes?

One of my tenants lease will be up in June and I don't want to re-sign them.  I want them out because them are not great tenants but more importantly, I want to renovate the unit and get it up to market rent.  How should I word the letter to them that I will not be extending their lease and how far in advance do I need to deliver it?  

I just purchased a fully rented triplex. It has a shared boiler and shared water heaters. The seller added a little bit to each lease, but not nearly enough and the rent is already under market.  The families in the units vary in size so some use more then others.  How should I fairly split the cost.  Also, how much can i raise the rent when I renu the lease. The rents are all around $300  below market (each unit)

I really appreciate all of the great advice, Thank you everyone!!

I'm closing on my first triplex this week...yay!!  I've met all of the tenants, but I want to send them all introduction letters.  What should I say?  What shouldn't I say?  Does anyone have a template that they would share?  

I am closing on a Triplex in Aurora, Co this week. One of the tenants has 6 months left on their lease, but needs to be removed. The other tenants have witnessed drug deals, her apartment is filthy/borderline hording. The other tenants have complained that they are having mouse and roach issues since she moved in a year ago.  Unfortunately the previous landlord kept no records, so I have no record of timely payments and the lease that is in place is super vague. How do I approach this?  

The other two tenants are awesome and I don't want to loose them.