Zach Rumfield
Family cabin in the mountains next to a major ski resort. Why not AirBnB?
22 November 2024 | 15 replies
I think guests hardly ever damage things intentionally, but when you have luggage coming in and out all the time and little kids running around a "new place," there IS a lot more wear-and-tear, scuffs/dents/scrapes, and broken glass.
Andrew Fidler
Anyone else having problems with LMHA Section 8 in Toledo???
22 November 2024 | 9 replies
I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.
Ally Gao
What is the best alternative for carpet flooring
19 November 2024 | 9 replies
More damage in the bathrooms, but overall not too bad.
Tyler Gilpin
Section 8 Market Rent etc
21 November 2024 | 19 replies
@Tyler Gilpin When you say "does pretty well", is that more of a commentary on the quality of the tenant (aka "lack of damages to your property") or the timeliness of payments (either via HUD or the tenant's portions)?
Will Gaston
Nearing 1,000 College Student Tenants: Here's what I've Learned
21 November 2024 | 305 replies
We certainly have some problems with damage, but rarely goes over the deposit amount.
Albert Johnson
Can a tenant break the lease for health issues?
20 November 2024 | 9 replies
This can help with limiting the time your unit sits vacant.These situations can get tricky, but I always recommend staying level headed during your interactions with the tenant.The worst case scenario is the tenant ends up unhappy that you don't want them to break the lease early and/or they don't want to pay for an early lease break (hopefully defined in your lease agreement with them) and ends up damaging your property, costing more, prior to their actual move out date.
Kaven L.
Should a PM walk the property before dispatching a plumber?
21 November 2024 | 21 replies
I wonder what it will cost you when they remove their washer dryer and damage the pan again.
Marcellis Mosby
Establishing rehab costs during short open house
18 November 2024 | 3 replies
I’m new to house flipping but have extensive experience as the owner of a successful property damage restoration company.
Brandon Staines
Girlfriend and I broke up , Now what about the house?
19 November 2024 | 7 replies
Or she starts dating a guy with a dog-sitting or weed growing or meth cooking business who does damage to the house.
Troy Welch
Legal Advice-1st Position Lender, Borrower Filed Ch 11 Bankruptcy
20 November 2024 | 2 replies
Defaults and Remedies A default exists under this note if (1) Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral to this note; (2) (a) Borrower or (b) any other person liable on any part of this note (an "Other Obligated Party") fails to timely pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party other than as described in (1) above; (3) any representation in this note or in any other written agreement between Lender and Borrower or any Other Obligated Party is materially false when made; (4) a receiver is appointed for Borrower or an Other Obligated Party or any property on which a lien or security interest is created as security (the "Collateral Security") for any part of this note; (5) any Collateral Security is assigned for the benefit of creditors; (6) a bankruptcy or insolvency proceeding is commenced by Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; (7) (a) a bankruptcy or insolvency proceeding is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations of the petition against it, or an order for relief is entered; (8) Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party is terminated, begins to wind up its affairs, or is authorized to terminate or wind up its affairs by its governing body or persons, or any event occurs or condition exists that permits the termination or winding up of the affairs of Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party; or (9) any Collateral Security is impaired by loss, theft, damage, levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral security of like kind and quality or restored to its former condition.