Your lender will probably require it and even if they don't it's simply good policy for you to have it on any property that you own. 

There's a hole in this ship and I need to plug it soon before it bleeds me dry.

Can you simply add additional plinths to give structural support or does all the flooring need to be ripped up to rebuild the sub-flooring?

This contrast greatly with New York, where they simply blow our numbers away in terms of new units built each year.Because we're so much slower at adding supply and we're not building dense enough, we're simply not able to keep up with the demand and that is keeping prices high, effectively stalling Phase III - Hypersupply of the real estate cycle.Just to meet the demand and prevent home prices from growing at the 200%+ rate it's been heading, we need to be building hundreds of thousands of new units more than we're already building every year.So why aren't developers rushing to develop in Los Angeles?

What contract should I use being this is simply lot and utilities?  

People shop for value, benefits, quality, simply a better deal, how do you show that you can deliver that?

By searching out mispriced assets - Assets (property) that is being sold for less than what it's worth.Let's take a look at how our Sokcho Investors apply Intelligent Investing rules to Property #2.Original Asking Price: KRW 150,000,000After Negotiations: KRW 100,000,000 + 10,000,000 for all the furnitureKey Money deposit from new tenant: KRW 100,000,000Out of Pocket Price for our investor: KRW 10,000,000For KRW 10,000,000 our investors were able to get a room full of very nice furniture (in fact, one regret they had was leaving the nice furniture in there and not replacing it with sturdier, furniture) and control of an apartment in this building:Here's an important point to consider: The negotiation down to KRW 110,000,000 wasn't simply an arbitrary number to 'buy low' - but it was based on understanding the market and knowing what the current key money rate for the apartment was.

@Lois Stern Simply let the other side know now, don't wait.  

I wouldn't feel comfortable giving out my account numbers as this lead to something unwanted in the future.Depending on the bank you may be able to have the tenant deposit into your account by simply giving them your name.  

I am sure you can simply google the subject and get read up on it.. seems like an odd topic for BP frankly