All Forum Posts by: Todd Witt

@Kevin Sheen we require the security deposit to be paid at lease signing. A prorated first months rent is due/required on move in day before we hand over the keys.

@Charles Wisniewski congrats on your first REI!

We set up a separate Venmo account for our rentals with our LLC name and linked to our LLC bank account. You can transfer the money out of the Venmo account with a few clicks immediately after rent is paid and it's in your bank in a few days. Tenants and managers both love it.

In my opinion the fair way to handle this is to treat it as if a third party were coming in to buy a percentage of the property from you. Therefore, the sale of equity should be based on the value of the property at the time of the sale (500k). The $161,130 is worth 32% of the property, all of which is coming from your equity. At the end of the transaction your boyfriend would own 82% and you would own 18%. Don't forget he has already seen the appreciation on his original 50% that he originally purchased. From the information you provided I don't see why he would be entitled to part of your appreciation on top of that.

Welcome to BP Damon! This is a great resource to learn.

@Account Closed we have taken these doors off of some other units when we were remodeling them and know they were not put up the best. If they were installed well and were a bit more modern we would probably be keeping them, but as it is they are an eyesore to the tenants, very difficult to get clean at turnover, and are not sealed up very well.

@Stephen E. The tenant has lived there for a while and is generally a good tenant. We have taken these doors down in a few of the other units and they were not put up very well so they are easy to take down. I agree with you though, tenants seem to think that demo is free and it can actually add up sometimes (like if we had to replace drywall behind the door once we removed it).

@Luka Milicevic Thanks for your response. This is actually their first request in a year or so. Hopefully it doesn't snowball, and hopefully provided a rod will not give them the green light for more demands.

@Chris Eaker I agree it is silly to argue over, especially with a tenant who pays rent on time and is generally clean. I had also never been asked and was just curious what others generally do.

@Erik Johnson That is a good point. I was envisioning the spring loaded curtain rods with rubber ends that adjust tot he wall width, but if I may them provide the rod and they choose one they need to drill into the wall that could be bad.

we have an inherited tenant who is requesting that we remove the existing door on his bath tub so he can use a rod and curtain instead. We were planning on removing the door when we turned over the unit for the first time anyways so when he mentioned wanting it removed we have no problem doing that for him. 

The debate we are getting into is he thinks we should be responsible for supplying the curtain rod and he will be responsible for the curtain. To me, I would rather the tenant provide the rod since they are removable, breakable, people have different decorative opinions with them, etc. Plus I seem to remember always supplying my own curtain and rod when renting both houses and apartments in the past.

At the end of the day this is optional maintenance and we can just not remove the door if we can't agree on who provides what. Or we may just supply the rod since they are not very expensive. Still I was just curious what other landlords do. Do you all typically supply the curtain, or curtain rod, or both, or neither?

Welcome to BP! It is a great place to learn and get support.