All Forum Posts by: Sigmund VanDamme

Very helpful - much thanks.  I think, for now, I’ll probably use Buildium (my current software) and manually enter into furnished finder and AirBnB and require approval so it doesn’t auto schedule and so I can send a proper lease.  Given I will only have one MTR and Hospitable is $59/month it makes sense for now.

Again, thanks.

I am in process of moving some of our long term rentals to Mid-Term (30-180 day) rentals,  We currently use Buildium to manage our long term rentals and it working decently.  We are looking to rent our properties to visiting nurses and the like.  The best site for that is furnished finder.  

We are looking at software to manage the booking of our mid-term properties.  I have looked at software like Hospitable and it looks great except it does not integrate with Furnished Finder.  Most of the software I have seen looks solely targeted on the short term rental space.  Any recommendations much appreciated.

Much thanks in advance.

Very helpful - thank you

I am trying to sharpen the pencil in regards to my financial model for the single family homes that we own.  We currently use 3% but I am finding that is inadequate and I am wondering if anyone here had a back of the napkin number they use.  I am sure it varies depending on the property and features like age of roof and appliances, etc.

Any guidance much appreciated.

Thanks,

-Sig

I am looking into the development of flex space (warehouse with a small office space).  I came across Flex Space Untapped which offers a training course and mentorship for $12k.  

Has anyone had any experience with them?

Any help / comments much appreciated.  

Just a quick update.  I use the contract Nathan gave me and charge the tenant two months rent and they need to give me three months advance notice. Thanks everybody here for your help!

 Steve - thank you for your reply.  Can you elaborate on “You've collected a security deposit above the NY state cap”?  I am unfamiliar with a cap or what the limit is.

Thank you.

I have a tenant who is about three months into a 12 month lease in his asked me what is options are if he were to be able to get out earlier.  Him and his partner are looking at buying a house.

How are you guys recommend handling this?  On a related note, he is renting a single-family home, and I live in upstate New York, where it is generally harder to rent during the school year (most people in this area rent in this area to go to the Schools and they are looking at places over the summer).

Here is the email he sent me:

I wanted to reach out to see if you would be open to discussing terms for an early termination of our lease. Basically, we are beginning the home-buying process, and we were hoping we could come to mutually-agreeable and mutually-beneficial terms for ending our lease early. For example, we’d be open to terms stating that:

• Three months notice is required to terminate, and
• We additionally would forfeit our security deposit (which is equivalent to 1.5 months rent)

These are just example terms: We are absolutely open to negotiating terms that we can all agree on as fair.

I’d like to emphasize that we do not yet have a house bought, and this entire discussion is hypothetical. We additionally don’t need an answer right away, if you would like to take a few days to think it over.

Thank you for all of the replies.  Progressive does not do additional insured and I think they are probably not alone.  

My new tenant told me that Progressive stated that they cannot add my LLC as an additional insured; however, they can add me as an additional interest.

Is this the same thing?