All Forum Posts by: Rick S.

@Kimberly T. search on Adverse Action Letter as there may be examples in the Tools--Forms area on BP.

Here is a good link as you want to be sure you follow the requirements to avoid any issues:

https://www.ftc.gov/tips-advice/business-center/gu...

Check with Cozy as well as they may have a sample they provide.  

@Gary Fare look into the flat fee option at rentrecoveryservice.com.  I have never used them but they seem to be one of the few that offer the reporting option.  

@Roshan K. try calling 866  775  0961 as that is the main support number.  If you still cannot get the issue resolved let me know.  Thanks.

@Damian Love for asset protection we added an umbrella insurance policy in addition to the LLC. Not sure if you already looked into that.

Hi @Joe Deasy sorry for the issue you encountered with the data as I am going to send you more information on the recommendation and the ResidentScore as I apologize that wasn't clear.  

The recommendation is based on the ResidentScore, however that is only one aspect of the report as we always recommend considering the payment history, late payments, debt amounts when making your final decision.  I personally pay more attention to the payment history and debt amounts than credit scores or recommendations provided.  

The tenant does not see the recommendation either so you don't have to follow the recommendation.

I will message you more information now and thank you for letting us know about the issue.  

@Art Maydan Fair Housing rules don't apply to owner-occupied buildings with no more than four units.  

@Jordan Napoli the Due on Sale clause can occur if the bank is notified of the change so that is something to be concerned with.  From what I have been told it is uncommon, however I have seen other posts on here where it has happened.  

When we transferred our more recent deed we made sure our insurance company wouldn't need to notify the mortgage holder when we added the LLC name to our insurance policy. So keep that in mind also if you decide to transfer the deed.

You will get varying opinions on here of whether to just have an umbrella policy or move to an LLC. We are using both an LLC and umbrella policy.

@Jordan Napoli I have heard of people who still list the LLC on the lease as the party the tenant is signing with even though the property is listed in the person's name. I don't know if this would provide the same protection so you would still want to consider an umbrella policy. I would suggest sticking with the LLC as it sounds like you will use it at some point.

I would talk to a real estate lawyer as it was pretty easy for us to move our most recent property to an LLC so you could consider that after a refinance.

@Allen Hua the other two I see mentioned on BP are lawdepot.com and rocketlawyer.com

Hi @Shea Spinelli sorry for the delay as I didn't get notified of your mention.  We don't have an app at this time as we have mobile pages available for a number of pages.  Adding an app is a future enhancement we are planning, however I don't have a time frame at this point.  Thanks!