All Forum Posts by: Alec Hilliard

Yes, that seems extremely high. I just had a 1550 SqFt house painted for around $3500 exterior and interior. 

@Alec Hilliard I have different bank accounts for each LLC but I have more than one property in each LLC and I have the checks written out as, "rental property 1, LLC."

I do one lease for the whole house, peer pressure is powerful, let it work for you, they are all equally responsible.  I never get in the middle of any issues they have between each other, including payments.  I don't care who pays what portion, as long as the total amount is paid.  Parents co-signing is a double edged sword, they are more PIA than the kids.  If they are not on the lease you do not have to talk to them, or allow them to have any input on anything. 

They come to me as a self selected group.  I don't want to be responsible for putting strangers together and any problems that may occur between them, sexual harassment being top of mind.  They choose who they want to live with and deal with the consequences of it among themselves. 

I provide them with a booklet on how stuff works, and how to make simple repairs on their own, they are clueless.  Like if a breaker trips, how to reset it.  How damaging uncontrolled water can be and how to stop the flow immediately.