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21 May 2024 | 1 reply
I am currently renting out rooms to friends (all moving in/out at different times) and need to get a lease together.When I buy my next primary, I want to be able to use my current rental income to get approved for another mortgage.What kind of lease do I need now in order to make sure the above can happen?
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22 May 2024 | 2 replies
You can always move it under a LLC once you close as well.
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21 May 2024 | 4 replies
I'm a landlord and home owner but my girlfriend and I are planning to move to LA in July and rent a place.
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22 May 2024 | 15 replies
Smart money move.
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24 May 2024 | 259 replies
Our factories dissolved or moved in the 90's and 00's and Grand Rapids has reinvented its self as the center for medicine, education, technology and most importantly beer (Beer City).Grand Rapids Michigan has been in the top 10 for rankings in the country for almost 10 years in multiple categories.
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21 May 2024 | 12 replies
if you bid and win and its not occupied, move in or rent it or sell it.
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21 May 2024 | 1 reply
My tenant did not provide a forwarding address when they moved out.
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18 May 2024 | 13 replies
Hello all,A lateral move with my current employer has my family moving to North Carolina.
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22 May 2024 | 3 replies
If they have a timeline on moving, or needing a reasonable timeline to find a replacement property, try and be accommodating. - Love letter.
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22 May 2024 | 19 replies
Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.