All Forum Posts by: Alicia Katnik-Canney

Thanks everyone for your input and ideas. I really appreciate it. Hilary, beautiful rental, thanks for sharing the photos!

Great Jon! Thank you for the advice, I will look into an estopple letter. Is there a specific format to follow or do I just write up a letter with the above mentioned info?

Thanks Jon. I know that one of the units has been fixed up immaculately but the other two are nothing special. I am thinking new flooring and paint and some minor upgrades to the kitchen should do the trick. Our plan is to use the profits from this year (as there are renters through this year) to make the upgrades and then, hopefully, get the higher rent the area commands!

What are some of the best upgrades to make on a rental property in order to increase rent? Our unit is in the worst shape of all 4 and therefore is rented for the least in the complex. This is our first rental and it is hard to not get excited about making it nice. I need some advice about what makes sense when upgrading. Thanks in advance!

Sharon, thank you! Yes, I agree that is seems smart to have them sign a lease that holds them accountable to me. I appreciate the insight.

Thanks Brian! I wasn't sure if our name needed to be on the lease. I appreciate the response.

we are purchasing a property that has renters through this year. There is a lease in place but do we need to give a new lease to our tenants and have their signatures and ours, as the new owners? Thanks for the help.

Jon,
Thanks for the concern. I don't know how different things are from Denver to boulder but here in boulder rents are pretty high if you get in the right area. I have run the numbers on several different analysis tools and they check out. Unless I am missing something, as this is my first go at this, then I am in the positive! We are considering HOA, mortgage, taxes, insurance, and maintenance. Anything else??

Anson,
Thanks for the welcome! Long term I would like to buy and hold for long-term monthly rental income. We just moved to the boulder area and are enjoying it so far . . . the afternoon storms are fun to watch!

Mark our deal is just off Colorado, very close to CU. It is a 3bdrm, 3bath, 1500sq. ft. townhouse. We have agreed to a purchase price of $220,000 and the property has renters through July 2012 so it is nice we don't have to deal with marketing the property just yet.