All Forum Posts by: Brice Alef-Torrisi

Hello Bigger Pockets Community, 

I have a Tennant looking to move out in May and she wants to have a family member take over her lease. What is the procedure for transferring a lease to someone else? Will I need to write up a new contract or is it a matter of amending the current lease. Please let me know what steps need to be taken. Thank you very much!

Hello everyone,

I recently bought a second property in Michigan and I'm really excited to get it rented. However, I was unsure whether I needed to open a new bank to manage the finances associated with the property. I currently have a bank account dedicated to my first property which I hold in an LLC, and I'm planning on paying out of pocket for the start-up costs initially but I wasn't sure if creating new savings accounts under my first LLC's Bank constitutes a comingling. If anyone has any insight on how they manage their finances between multiple properties/LLCs, I'd greatly appreciate it.

Thank you.

Hello Everyone,

I recently bought a 3-unit investment property in Michigan and have plans to rent out one of the units to the sister of one of the neighbors. I have her staying in the one br while we renovate the other unit she wants to move into so I can begin collecting cashflow. She moves in mid-June so I collected the Security Deposit and First month's rent ($1200 sd + 800 for the 1br). I have a couple of questions. Do I prorate the amount for her first month in the one-bedroom and then charge her the full month's rent for the following month? Secondly, how do I deposit the Security deposit into my account from Venmo in order to keep it separate from my other funds? Lastly, should I continue collecting rent through Venmo or should I have her set up automatic payments with my bank? 

Thank you very much.