All Forum Posts by: Ruchi Patel

From my understanding - paint last upto over 7 years if there is no lead issues. So this basically says the tenants can violate, mess up the walls as they please and not be liable for the actions as the owner has to paint. That is just not fair. 

But isn’t drawing with crayons in every room considered negligence and unacceptable. The landlords didnt provide walls painted with marks or drawings on it. 

we had a tenant for 5 year who had 3 little kids that drew all over the walls in the apartment. The house was freshly painted before they moved in. So we mentioned that they will be liable for the paint expense which he thinks is the landlords responsibility to paint every three years. Clearly not be accountable of the damage his kids caused to the their negligence and carelessness. 

What the does the below regulation mean? Seems like he cannot differentiate btwn regular wear and tear and intentional damage/ 

Paint requirements: Interior walls, ceilings and other exposed surfaces in rental units must be kept smooth, clean, free of flaking, loose or peeling paint, plaster or paper and maintained in a sanitary condition. Painting or other protective coatings are the responsibility of the occupant, not the landlord when required more than once every three years, as a result of acts or omissions of the tenant. (Rental units are not required to be painted between tenants.)

@Natalie Kolodij Thank you! However since i closed the house in October, can I at least deduct insurance expense and interest that was paid for 2 month plus the utilities since its still operating expense on a investment property whether it was rented or not at the time. I would think getting repairs and renovations done is considered an operating expense. Please advise

Hello, we bought a investment property in October but was not rented till February 2020 as it was going through renovations. Can some real estate accountant guide me as to what can be deducted on my 2019 tax return. 

Is the closing costs, taxes, material expenses, construction labor cost and all considered as expense in 2019? Please help

Can anyone recommend good insurance for a investment property that covers plumbing/ heating whether it’s repairs and replacement. Any good affordable package rates out there? Would appreciate recommendation and review from people who buy such insurances.

I hired a handyman who probably called himself a contractor running a business under Bentleys LLC in jersey city,Nj. Basically we paid him upfront of 50% of the amount agreed upon to buy materials (kitchen cabinets/bathroom vanity/ faucets/ tiles/paint.ec)

He basically bought in tiles/backsplash and 3 bottom cabinets/paint and then most likely he used up the money on personal expenses and stopped showing up to the site. He was basically very irresponsible and unprofessional did not even have courtesy to call and let us know he won’t be working due to xyz reason. Everyday he would say he would come tomorrow but that tomorrow never came. He has all his tools laying around all over the house. I texted him to send me proof of all the receipt since he claimed materials were pre ordered but he was just fooling us and thinking we were dumb enough not to catch his lies everyday. What cabinets take 3 weeks to bring from nearest Home Depot or Lowe’s.

His name is Al Remillard and I would appreciate advice on want can be done to show him his right place and to ensure his reputation is hurt if he has any to begin with. It’s absolutely disgusting to see such people calling themselves professionals who have zero ethics or integrity. Something needs to be done to help others who actually work hard for every penny and are honest. It was an absolute nightmare dealing with such people who think they can really be big business professionals who have zero to none experience and act worse than school kids.

Any one know how much it could cost to rehab a two family which is about 1950 sqft in jersey city? In terms of timing and cost? Any good general contractors that are good and have good pricing in the area? Trying to see if anyone has undertaken a similar project. I see many people re gutting and renovating the whole thing. I would appreciate some insight. 

@Jerry Padilla

Yes the rate was locked when we started the paperwork and all

The mortgage officer is saying she’s charging us the cost of the rate they paid the lender so we have to pay them back. So are they saying they paid a lender price to get us the rate ?