All Forum Posts by: Sara Taslitt

Hello- 

I am in the process of finishing the attic space in my two family. I am debating between vinyl planking and carpet. We got a quote and the vinyl planking would be more than double the cost of the carpet (3,000$ more).  What are your thoughts? I was at first thinking that having carpet in a rental property is not a good idea. There will be a bedroom in the attic space and just some extra living space. 

Please, give me some input!

@Richard Sherman....could you elaborate a bit on why you put LED lights in?

Thanks everyone for your input. I appreciate the way you think as investors (I am new to this so I find that I get consumed with concerns about keeping my future tenant happy). I think that I will just discount the rent by 10$ to cover the common area lighting and disclose it in my lease to cover it.

Thanks!

Hello-

I just had an electrician doing some work in my two family house. I am living in the second floor. My first tenant is moving in next week.

The electrician noticed that the common area electric is on the tenants breaker. I have asked the tenant to get the utilities in her name before move in day, but now finding this out I am conflicted with what to do.

We live in Massachusetts, so I looked up the law here and it says that you can have the tenant pay the common area in a building less than 4 units as long as it is disclosed to them. Here is the link: https://www.mass.gov/guides/housing-courts-guide-to-landlord-tenant-issues

I am thinking that it would be appropriate to give the tenant a credit or lower the rent a bit based on this.

We originally asked 1275 for rent so I thought that asking for 1250 could cover that.

I would love some feedback!!

Hi- Thanks for your response. I know that the security deposit must go in a separate account, but where should I put that money before it actually becomes the security deposit.  I am thinking I can put it in any bank account before actually making it the security deposit, but I have my doubts. I am having a hard time finding information on this.

Thanks for your help!

Hi Everyone-

I have just accepted my first tenant in my new rental property. I will be collecting a deposit to hold. Where should I put that money? I plan on making it her security deposit if all goes well, but before it becomes the security deposit, where should I keep that money?

Thanks!

How much do you ask for when asking for a security deposit?

Has anyone used selectblinds.com?  

Has anyone used selectblinds.com?  

I am about to close on my first two family. I am trying to get all my documents in order. I have been warned to be careful regarding the security deposit. I know that it has to be in a separate bank account and I have gone to my local bank to ask about accounts. What else should I make sure to do?