![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1442049/small_1621512341-avatar-alaah.jpg?twic=v1/output=image&v=2)
20 October 2024 | 4 replies
And, then, as time passes, because the lifetime of the lease decreases, the real value of the property actually decreases towards 0 until the lease gets renewed and there's absolutely no guarantee that it will.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2515520/small_1695673065-avatar-mostafak8.jpg?twic=v1/output=image&v=2)
17 October 2024 | 0 replies
Lease expire in 5 yrs but I don't see a renewal option offered to the MSO group.They bought this place 2 yrs ago.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3123198/small_1727029020-avatar-rahuls159.jpg?twic=v1/output=image&v=2)
13 October 2024 | 3 replies
Under property management costs, usually just the standard 10% of monthly rent is often referenced but the lease renewal costs & tenant replacements costs are not mentioned quite as often.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2973746/small_1713900114-avatar-julias114.jpg?twic=v1/output=image&v=2)
17 October 2024 | 19 replies
The only issue would be having to verify income for the lease renewal if needed.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3006911/small_1714166399-avatar-adamk478.jpg?twic=v1/output=image&v=2)
18 October 2024 | 14 replies
I'm currently paying $4100/year for insurance, and when it renews in October it will go up to $5500/year.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2100976/small_1715724573-avatar-cmooreproco21.jpg?twic=v1/output=image&v=2)
17 October 2024 | 1 reply
Now, let’s dive into the upsides and downsides of moving to this kind of arrangement.The Upsides of Consolidating Your Insurance into One ProgramSimplified ManagementManaging multiple policies with different renewal dates, coverage limits, and terms can be a logistical nightmare.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2936368/small_1706802259-avatar-ananths3.jpg?twic=v1/output=image&v=2)
19 October 2024 | 14 replies
Pay rent (this will likely happen again next month, we don't renew people who can't afford to pay rent on time)2.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/184593/small_1683201988-avatar-john05261.jpg?twic=v1/output=image&v=2)
17 October 2024 | 14 replies
As for insurers not renewing insurance in certain zip codes it happens all the time.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1984783/small_1738975138-avatar-willm188.jpg?twic=v1/output=image&v=2)
18 October 2024 | 7 replies
Installation Costs and IncentivesAverage Cost: Residential solar systems typically cost between $15,000 to $25,000 before incentives for a 6kW system (suitable for an average home).Incentives: Illinois offers substantial incentives, including:Federal Tax Credit: A 30% federal tax credit applies to system costs.Illinois Shines Program: Provides Solar Renewable Energy Credits (SRECs) that homeowners can sell for additional income.Net Metering: You’ll receive credits for any excess energy your system produces, reducing your utility bill.2.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2984856/small_1711831688-avatar-rosemarye2.jpg?twic=v1/output=image&v=2)
17 October 2024 | 14 replies
After 13 weeks and then their renewal of another 13 weeks.. you know have a good solid move in date for your next resident.