All Forum Posts by: Sam Lofton

Hi,

    I'm looking for a reliable handyman and plumber in the Columbus, OH area. Does anyone have recommendations? 

Thanks!

Sam 
 

Hello,

     I'm a real estate investor in Columbus, Ohio. Some of my tenants' lease is about to expire and I am not resigning with them. They have an outstanding water bill and their previous landlord had to take them to Small Claims Court for not paying the bill at their old residence. Am I able to use part of their security deposit to pay this off? All other utility bill debts follow the tenants but the water bill is ultimately on me if they do not pay. My lease clearly states that the tenants are responsible to pay all utilities used in association with the property. 

Thanks in advance!

Sam
 

Hi Everyone,

     How much cash do you recommend saving in reserve for each of your rentals? How do you divide that reserve? (Ie 6 months of vacancy, X amount for repairs, etc).  I'm new to this and currently have 2 rentals. My thought is that the more cash flow a rental produces, the less money you need in reserves but I'd love to hear other peoples' opinions/advice. 

Thanks in advance,

Sam

Hi,

I am screening a potential tenant who owns his own Drywall company (in a verified LLC). He does not have paystubs but has provided the last two years of bank statements for me to verify his income. His income looks great but I want to be thorough. Are there any red flags/additional information I should look for when assessing a tenant's bank statement?

Thanks in advance,

Sam 

Hi,

    I'm screening tenants for my next rental and have an applicant who is self employed. How would you recommend verifying his income? Are there extra stipulations you would include in the screening process if a potential tenant doesn't have a W2 job?

Thanks in advance,

Sam 

Hello,

      My tenants asked to use Cash App to send rent. Does anyone have experience with this application for rent collection and any pros/cons they'd like to share? 

Thanks!

Sam
     

Thank you for your responses. I appreciate the help!

Hi Everyone,

I just purchased my first rental and have tenants moving in on 9/1. I want to provide them with an EPA Approved Lead Based Paint pamphlet, as the house was built in the 1960s. Do you know if it is a legal requirement to have both the Lessee and Lessor sign a "Disclosure of Information on Lead Based Paint" form? I live in Columbus, OH. My attorney did not include it in the lease, so I'm not sure if it needs to be added or if I can just have a separate form to sign.

Thanks!

Sam