All Forum Posts by: Peter M.

If you accept pets make it a pet fee not a pet deposit. Pet deposits are refundable. Also considering charging pet rent ($25/month)

I recommend duplex-4plex if you can find it in a place you are willing to live. You can get higher rents than individual rooms in a house plus you aren't sharing the kitchen sink and bathrooms. The hard part will be finding one if you utilize an FHA program because there are stricter guidelines (you wont be able to buy a super run down property for cheap to fix up). Look into the FHA 203k loan. It will be a lot of red tape and paperwork but if it was easy everyone would do it. Good luck.

You could do either depending on what the current tenant will agree to. Get a smaller deposit from the new roommate enough to cover an eviction if it came to it. I would just add an addendum to the current lease and if they want to renew at the end of the original term you can put them together on one (along with a rent increase if you are so inclined)

Rokus with TVs that have integrated DVD players in them.

I am referring to non-tenants' pets. My particular situation was a corner lot surrounded by multifamily housing with a fire hydrant. When I was living there I asked people to pick it up and got the previous responses I posted about. Eventually I came to the conclusion that it wasn't worth confronting people about it. I didn't want someone realizing I lived there and key my truck or leave flaming bags at the door. Chose to look at it as free fertilizer. You can't control irresponsible pet owners.

And absolutely if I allowed pets and witnessed my tenant not cleaning up after a pet or littering you bet I would charge them. 

@Tyler Kastelberg Would you be able to elaborate of your experience? If not on the forum you can shoot me a PM.

@Account Closed This is violation of fair housing rules in the US. Sure, if you have other vacant units or the timing works out great. But you cannot refuse to rent to a family because it is an upstairs unit or refuse to place single people in downstairs units. Best you can do it warn potential tenants before moving in of those situations. Explain it is a consequence of living in apartments and if they know up front they are less likely to complain. Walls are thin, you can hear people next to the same as above you. 

Not my own but happened to my CPA who runs a successful private firm:

Her daughter (teen) allowed her boyfriend (teen) to drive her car which was in CPA's name/insurance. Boyfriend hits 3rd party while texting and driving. No major injuries but both cars totaled. 3rd party learns who actually owns car, threatens to sue. Drops suit after the lawyer looks into CPA and realizes they won't be able to go after private assets or the business. 

2nd story also not mine but does not have happy ending. Husband has good job with good benefits but gets laid off. The only life insurance he had was through the company and 6 months after the layoff gets cancer and dies. His wife and kids lost pretty much everything. That one hit home for me since I just had a daughter and finally caused me to buy my own policy. 

I agree with Costin that it is all insurance; and insurance and lawyers fall into the category of necessary evil. Asset protection can be expensive but when something happens that is totally out of your control you'll be happy its there.

Also even though you did not "hire" them, a reduced rent in exchange for a service would be seen as an employer/employee relationship in a court since there is a defined monetary value. I'm not saying you can't or shouldn't do it but this exact situation can arise from that type of agreement. 

*Except the lawyers