All Forum Posts by: Joe Powers

An LLC will offer you the greatest protection for your personal assets should anything go wrong. But check with your state and the banks and lenders in your state. Here in NJ most won't allow a property to be in the name of a LLC if you have a mortgage on the property.

I had tenants move out when their lease was up
They notified me 2 months in advance that they were leaving. They never paid the last months rent and left everything they owned in the house. Unfortunately none of it was worth much. Anyone have similar experience?

I own vacation rental properties at the shore and do weekly rentals.I work with a lease even if its for a week. Be careful with long term tenants.They may sublet your property to others on a week by week basis and make money on it.

I raise them 5% every year and notify the tenants 60 days before their lease comes up for renewal. It costs more to do business every year. Taxes & Insurance go up.

Just wanted to take a minute to say hello. I'm new and am just familiarizing myself with the site. I'm from New Jersey and own several rental properties.