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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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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.
4 September 2024 | 11 replies
I believe that when they do move out that they will use the bond as the last months rent and I will have nothing to fall back on if there are damages.
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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.
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28 August 2024 | 9 replies
The inspection report came back showing signs of old termite damage.
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3 September 2024 | 22 replies
If you're concerned about issues, make sure to have a camera pointed at the driveway, smartlock that logs all the comings and goings, noise monitor inside and you can even place one in the backyard, and lastly get damage rental insurance on each booking that the guest pays for by baking the charge into the nightly rate.