Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

109
Posts
27
Votes
Edward R.
  • Real Estate Investor
  • La Fayette, NY
27
Votes |
109
Posts

Doing another Fire insurances Rentals with ALE

Edward R.
  • Real Estate Investor
  • La Fayette, NY
Posted

A Friend contacted me about a coworker who suffered a small fire at their house so needs a temporary place for 3 months. She put me (my 5* Airbnb) in touch with the person and he checked things out online and my virtual walkthrough page and He's  likely renting it.  He mentioned his USAA insurance does work with  ALE  Relocation Plus he has a publice Adjustor (a reputable local firm) (I worked with two others before)   Should I have ALE pay me directly or have the customer pay directly instead?  (thinking tax purposes). It's a semi-retired couple, Very trustworthy and financially secure (I know his work position, and prestigious enough to have his own Wikipedia.  (impressive credentials).

His contractor said 2- 2.5 months but I'm going to request ALE do 3 month minimum lease. 

Also, I think ALE may even pay the 3 months in full in advance if pushed.

I also implement my own short-term lease with guests that stay an extended time

Most Popular Reply

User Stats

1,388
Posts
1,541
Votes
Adam Martin
  • Rental Property Investor
1,541
Votes |
1,388
Posts
Adam Martin
  • Rental Property Investor
Replied

I have gone through ALE before and it went well.  You are going to sign the lease with the tenants who will be responsible for the deposit.  They are going to give you a couple additional sentences to put into your lease stating that they will pay directly and can be the ones extending but what they wanted seemed to make sense so I had no issues amending it.  They will pay you directly and you are going to authorize this in the wording they send you and will be mailing you a check, there is no direct deposit option but it really is no big deal.  I did have a check get lost in the mail, my USPS tracker said it was coming but then they lost it.  No big deal they overnighted a new one.  I can't see them paying in advance but it doesn't hurt to ask.  They wanted a 3 month lease but I said I wouldn't go less than 6 and they agreed.  The tenant moved out after 5 since the house was done but they paid the full time.  

Loading replies...