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16 December 2024 | 18 replies
Furnished Finder does make it tricky since you need separate profiles for each room, but platforms like Apartments.com or Airbnb might work better if you're aiming for full-house rentals or structured by-the-room arrangements.If you decide to rent to multiple individuals:Tenant Screening: Screen each tenant thoroughly to ensure they’re reliable and responsible.Clear Communication: Introduce potential tenants to one another Detailed Agreements: Use separate leases for each tenant and specify shared vs. private spaces, utilities, and maintenance responsibilities.House Rules: Create clear, written house rules to prevent misunderstandings.Inventory Tracking: Document everything in the home (furniture, appliances, etc.) to avoid disputes about damage or missing items.Also, market your property with its flexibility in mind—like proximity to hospitals for traveling nurses or universities for graduate students.
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12 December 2024 | 9 replies
@Hsin-I Hsu Owning a $2.5M house can be an expensive commitment, not just because of the upfront down payment but also due to the ongoing expenses for repairs, maintenance, and upgrades that inevitably come with homeownership.Renting at $5K a month, especially for a 4-bedroom house in the Bay Area, seems like a solid deal.
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12 December 2024 | 5 replies
If I continue to charge $500 month, that's $6,000/year, If half of that went for maintenance, it's still $3,000/year.
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11 December 2024 | 14 replies
query=garage#sear...If you can rent a 2 garage at $450 without spending ~$150k for a garage ADU conversion, no work/risk of the ADU conversion, the lower maintenance/capex, easier eviction, no rent control, less tenant interaction, it will not convert your SFR to rent control, etc, it seems superior to the garage ADU conversion.
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16 December 2024 | 8 replies
There is much to learn: pricing, marketing, screening, contract law, lease enforcement, late/unpaid rent, property abandonment, squatters, maintenance, tenant neglect or abuse, communication, and 417 other things.Buying a decent property but not managing it well can impact your finances, marriage, sanity, physical health, and desire to invest.
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11 December 2024 | 1 reply
We were able to create a great coworking lounge as well as build out a great entertaining space on the rooftop for stargazing, yoga, movie nights, dancing, great food, drinks and ocean and city views.It was in decent condition, just a lot of deferred maintenance, Has appreciated.
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11 December 2024 | 13 replies
Unfortunately there's a lot of alarmist/scare tactics utilized to upsell these services that do nothing but generate revenues for those who are selling the service and often leave the clients with recurring expenditures i.e annual maintenance costs.
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9 December 2024 | 6 replies
I am considering other options to see if there are ways I can hire someone to just do showing only and mamage my own rent collection through Zillow app, I also have my own contactors to do maintenance but have been paying monthly fee to my property manager who has done literally nothing, they also never answered my calls.It definitely sounds like you need to reevaluate your relationship with your property manager.
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10 December 2024 | 5 replies
Approaching it like that would also automatically set an expectation for the owner to pay maintenance expenses.
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3 December 2024 | 21 replies
I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.