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All Forum Posts by: Ari Friedman

Ari Friedman has started 1 posts and replied 22 times.

Sorry you are having to navigate this when you’ve already had to adapt to so much.


There’s something called a Special Needs Trust you could look into: https://www.forbes.com/advisor/legal/estate-law/special-need...

Post: Should I sell or rent

Ari FriedmanPosted
  • Posts 22
  • Votes 15

Good advice so far. Also think through taxes as far as cap gains exemption goes. If you have substantial appreciation may want to sell it to lock those in.

Quote from @Muriel Hair:

Has anyone use SimpliyEM for property management software, If yes, please provide pros and cons.  I would also like recommendations of what you use,  We have under 5 properties. 

We use Innago for 3 properties. Inexpensive, handles payments well, absolutely amazing customer support by email. Interface is a bit convoluted sometimes but not terrible.
Quote from @Cindy Joseph:
Quote from @Ari Friedman:
Quote from @Cindy Joseph:

We purchased a duplex and will be living on 1 side and renting the other. I found out llc is not a good idea. Do I need umbrella insurance or landlords insurance or both? Landlord is significantly more than umbrella. 

Definitely LL. Umbrella not a bad idea as a supplement, but it’s supplemental.

Thanks, what’s the difference between the two? My understanding that umbrella covers liabilities after homeowners insurance maxes out  

LL takes the place of homeowners. Umbrella is supplemental when you exceed coverage on the primary. Your agent will be able to explain.

Post: Electric Heater in condo needs replacement

Ari FriedmanPosted
  • Posts 22
  • Votes 15

Most electrical heaters are more about the electric than the heater. Try an electrician?

Quote from @Cindy Joseph:

We purchased a duplex and will be living on 1 side and renting the other. I found out llc is not a good idea. Do I need umbrella insurance or landlords insurance or both? Landlord is significantly more than umbrella. 

Definitely LL. Umbrella not a bad idea as a supplement, but it’s supplemental.

Naviens are good units.

heatinghelp.com has a database of contractors who know what they’re doing. Important with hydronics—easy to do silly things that cause problems.

Dan Hoolihans books are essential reading while being fun at the same time.

Innago now offers this. Tenants would probably like it bc it helps their credit. Bumping an old thread. Anyone done this have pros/cons? How do you remain compliant with FCRA?

Absolutely have it inspected.  We do lead/sewer/radon for every property.  Not sure about MA, but in many areas there's a "Lead Safe" certificate which is different than "Lead-Free."  If there's no peeling paint and the swabs come back clean, then it's lead safe.  Needs repeating every few years, but you don't have to do a full remediation.

Aside from costs and legal liability, do you really want to be renting a property with lead to a family with a toddler?  Lead is awful and ruins lives in subtle but very real ways.  Don't mess with that.

Lots of local codes regulate how much a lease breakage feee can be charged. We had to break a lease once and offered to pay two months rent (lease break fee in lease was 1 mo, plus security deposit) as well as find a new tenant. They agreed, but then started tacking on extra fees and such. Consulted lawyer who noted that city only allowed prorated rent to be charged for the time before it was re-rented. Found a tenant two weeks later so only wound up being out the security deposit.  Check your local laws.