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3 April 2024 | 6 replies
If there’s an electrical issue, it’s typically up to the landlord to fix it.Heating and Cooling Systems: The landlord is responsible for maintaining and repairing any installed heating and cooling systems.Appliances: If the property comes with appliances, the landlord is responsible for repairing them if they break down.Safety Repairs: This includes things like smoke detectors, carbon monoxide detectors, and any other safety equipment the property might have.Remember, these responsibilities can sometimes vary based on the terms of your lease agreement, so it’s always a good idea to clarify these points with your tenants.
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5 April 2024 | 43 replies
Gross negligence is typically defined as conduct showing extreme indifference or a reckless disregard for someone's safety or propertyGood luck determining whether the PM's act rises to gross Wilful Misconduct/Gross Negligence.
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4 April 2024 | 42 replies
Fees are built into a lease to make that reminder memorable.Refrigerators feel like a modern necessity but they do not rise to the level of habitability concerns (i.e. life, safety, health).
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1 April 2024 | 4 replies
Otherwise many investors would buy, "kick out," and bring in higher paying tenants.I think the better question is what's needed that is health and safety?
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1 April 2024 | 6 replies
On draw #3, the tediousness of this process, which caused delays, and then an extension form was requested where we would need to explain the delays, was really getting to the both us, and my GC vented to me his frustration about the delays in payment.He's been really patient and understanding, his team works fast and they do good work.
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1 April 2024 | 10 replies
It can only protect you if you are honest, a landlord who keeps health and safety codes up, you have great insurance, you never mix the money, and you are lucky.
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2 April 2024 | 45 replies
I would encourage you to compare that rate of return with the income you may be making from the property and then factor in the safety of the savings account versus the unknowns of repairs and maintenance of your purchase.If your monthly return on investment was $400 on the property, and you can make $333 just letting your money sit, I’m not sure I would make the investment in a high interest rate environment, factoring in the fact that you will probably want to refi your property within the first two years of owning it at a high interest rate.I think I would ask myself what is the advantage of buying now, versus buying a year from now.
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31 March 2024 | 8 replies
The Nest thermostats have this feature, they call it a "safety temperature".
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31 March 2024 | 14 replies
Having a clear plan will help you stay focused and motivated as you work towards building your real estate portfolio.Be Patient and Persistent: Real estate investing is a long-term game, and success doesn't happen overnight.
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31 March 2024 | 4 replies
@Ryan Fox @Kevin SobiloOur lease does state:"Tenant may not infringe upon the quiet enjoyment right or safety of other tenants through disturbances including but not limited to TVs, stereos, musical instruments, other loud noises, heavy walking, or other disturbing actions."