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21 May 2024 | 12 replies
Make sure to keep the photos and document all conversations for court.
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21 May 2024 | 12 replies
@Mohit Arora to gain some piece of mind in this same situation, I drafted a "Holding Deposit Agreement" document that is entered between the potential tenant and I.The purpose is to use the deposit to hold the rental until the lease signing and transition this Holding Deposit to a Security Deposit once the lease is signed and all other move-in funds are collected.You can message me privately and I can send you the doc I drafted.
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20 May 2024 | 0 replies
(rent payment at fair market value.)Loan Payments: Ensure the rental income paid by the LLC is used for mortgage payments, clearly documenting the transactions to avoid co-mingling of funds.Insurance:Landlord Insurance: Obtain a landlord insurance policy for the rental portion of the home through the LLC.Homeowner's Insurance: Maintain a separate homeowner's insurance policy for my personal residence.
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21 May 2024 | 44 replies
They have very stringent requirements as to documentation, and they charge fees and points, but Tim Corr, the lending agent, was upfront with these, and he was also on point, making sure that all my T’s were crossed and my I’s dotted.
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20 May 2024 | 4 replies
As long as you can document two years of work/income, yes (All things being equal).
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21 May 2024 | 41 replies
I hope you have documented the damage he has caused.
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19 May 2024 | 6 replies
I've asked for any documentation that these 2005 Rules & Regs were rescinded, changed, or no longer in effect.
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22 May 2024 | 30 replies
Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Payroll & payroll taxesBusiness income tax preparation and paymentsLabor: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...
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21 May 2024 | 58 replies
They provide everything to succeed including a back office portal, marketing materials. all of the forms and documents plus over 1,000 pages of case studies and completed documents.
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19 May 2024 | 25 replies
By documenting with a detailed logbook and performing all of the labor myself (e.g.: handling bookings, cleanings between clients) I can show that I have passed one of the required material participation tests ('Activity that constituted all participation substantially').§ 1.469-1T(ii) Exceptions.