All Forum Posts by: Ron DeMaria

I appreciate everyone’s insights.

I feel before long every pet will be an ESA due to websites that promise to make it so easy. This site promise esa cert after a 3 minute assessment!!

https://pettable.com/

is there a method to know what ESA certificates are valid?

I fully support legit ESA situation but I feel there is a lot abusing this privilege, which is unfortunate.

Fellow Landlords,

I noticing more and more dogs/cats are ESA's. I welcome pets in my rental but like to be compensated for the wear and tear.

How do you handle this situation? I know if we have multiple applicants we are free to choose who is the best fit....

I was also thinking of increasing the rent to include the "pet-rent" for everyone - but that make the rental price look inflated.

I appreciate your thoughts.

Thank you!

Ron

Good points, thank you @Colleen F. I like the idea about including a few pads in the welcome pack!

Thank you, @John Underwood and all who responded. Good point about keeping it in good repair.

This is a question that I've been pondering - I have a rental property that I can easily payoff but I am concerned about the risks that it can expose.

So essentially for any lawsuits or gold-diggers, I don't show up as owning the property. The bank owns it, and I feel that's a nice deterrent to have a multi billion dollar bank own it while I control it. The bank gives me a 

"moat".

So my question to my fellow BP investors is what can we do to protect our hard earned assets? 

Here are some options, I have in mind.

1. Get a HELOC on the property which will place a lien from the bank.

pro: No cost (I like this idea, plus you can pull money if needed)

con: Still will show the mortgage is paid off. Tax billings will come to you due not having an escrow.

2. Refinance the remaining small balance on the mortgage for a 20yr loan

pro: Will have mortgage lien on the property. That's nice.

con: Will show the dollar amount of the mortgage and that its small. Adds risk

Unnecessary cost on interest and closing costs. 

What else?

Hello!

I just got a rental unit with solid hardwood floors and I am getting it beautifully refinished.

I like to hear your thoughts on what do you require your tenants to when they vacate? This is a A- unit renting for $1700+ with a max of 2 dogs.

For units with carpets, I ask tenants to have it professionally steam-cleaned and provide the receipt. For hardwood, what's reasonable to require? Great if I can have them rebuff and polish the floors.

I like to hear your thoughts.

Thank you!

Ron

I am curious - Is there a way to obtain listings of properties that are owned free & clear? I'd appreciate any points. Thank you!

I learned something new - Thank you, @MathewPaul I also a golden rule to fellow investors, I learned this with this issue. It’s best to tell repair techs only to share details with you. Since distorted facts can cause confusion like the one I am dealing with...

Thanks, Matthew. It is a heat pump. Can you explain why it will not happen? When the a/c was on the heater ran causing the place to heat up. So tenant think the reverse is true. I appreciate if you can explain

Thanks. I appreciate your responses and I agree. Would you advice signing a simple agreement summarizing the issue and that payment? Just to have paper trail...