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31 August 2024 | 3 replies
The security deposit is approximately 10% of total repairs so it won't cover most of the damages.
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4 September 2024 | 9 replies
Allow showings but, you have to be careful - we do not show homes to anyone who has not provided a photo I.D. and been screened through our validation process and provided a credit card in case of damages.
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4 September 2024 | 2 replies
Hopefully their deposit is higher than the damage, but if not, you can document everything and try small claims court, but honestly it is not worth your time as you are unlikely to see the money if you win.
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4 September 2024 | 9 replies
I do supply the 1" light-filtering miniblinds from Lowes (Project Source) - and yes, they get broken pretty easily, but I charge for their replacement on turnover if they are damaged, as @Kenneth Soles does.With the blinds installed, the units show better, create some opacity to thwart people trying to ascertain if the unit is vacant, and provide some privacy once the tenant moves in.
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3 September 2024 | 0 replies
Here is a great article that walks through frequently asked questions on cost segregation studies: https://www.biggerpockets.com/forums/51/topics/1113749-cost-segregation-faqPartial Asset DispositionsA partial asset disposition allows real estate investors to write off the undepreciated value of building components that are replaced during renovations or those that are damaged/destroyed.
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4 September 2024 | 8 replies
The clientele tend to be habitually unemployed/unemployable and relapse is not uncommon, which often leads to fights, damages, or the revocation of licensing privileges by the municipality.
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5 September 2024 | 4 replies
All Contractors are subject to the lender’s determination that the contractors are qualified and experienced, have all appropriate credentials required by the state, are financially able to perform the duties necessary to complete the renovation work in a timely manner, and agree to indemnify the borrower for all property losses or damages caused by its employees or subcontractors.Multiple Specialized Contractors:Ø Since this is a limited repair/renovation program, no General Contractor is required.
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30 August 2024 | 17 replies
Tried both, damage deposit works better.
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1 September 2024 | 2 replies
Can the 3 weeks in lost rent be taken out of the old tenant's security deposit or would we need to seek for those damages separately in court?
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29 August 2024 | 4 replies
We are having our roof replaced due to storm damage, however, when the shingles were removed another storm came through the area and caused a significant amount of water damage inside the house.