All Forum Posts by: Colleen F.

Aside from price it is very taste specific. The kitchen and to some extent the baths are not as taste specific so that is good they are big ticket items that I think would appeal to most people. However if what I am seeing in the bath is leaning mirrors I suggest you attached them to the wall, that is not good for showing and it makes the space look unfinished. If you are advertising to families that is just one thing they will see and think , got to take care of that right away. The coffered ceilings and diamond pattern wall are something you like or don't and that could really limit your buyer pool. If the diamond pattern is wallpaper I really would undo it, sorry to say. Good luck!

The one year lease gives some predictability to when vacancy will occur. That is an advantage if there is a time frame that is desirable to rent your unit. For example if you are targeting families who want to move for the new school year. I have never had a problem with letting a one year go to month to month but generally the expectation in this area is a yearly lease.

We just refinish wood floors and they hold up well. In one apartment they are oak and they look brand new. In a house we have fir and not as good but carpet to me is a pain. No matter what you spend it seems like carpet looks good for maybe 3 years. If feel you have to cover the floors and you never intend to show the wood floors again then put allure or something with glue on them. If you think someday you want to re-expose them I recommend to use laminate or something without adhesive backing. (I am biased against adhesive due to dealing with the black cutback-maybe the newer versions come off easier and would be just fine).

Scott , of note here may be that all our properties are pretty wet on their own and are on septic so no problem with the grass growing in the first place. We have grass that's good enough. I would say I just view fertilizing as an extra cost with no real return. I differ from you in that I don't view it as an investment in the property. Landscaping in general yes but just greener grass no. You may be in a different area. We are on par with the average neighbor we have without fertilizing. I need to control my expenses so there is a good dividend because there is no point in having the property if their isn't a good dividend.

We did this but not by design. I just love old houses, we had low budgets for our areas, and we have moved for other reasons. I have to say it was easier for the kids when they were little but harder for me. The floor that took too long to dry had us in a kitchen and bathroom only situation for a week while my husband took a business trip. It was not even poor planning on our part just bad luck. So pros money wise it make sense. Cons - it isn't as easy as you think, you have to be flexible. My parents leant us their motor home at one point and we parked it in the driveway for a week (as you cannot live without a bathroom). I found this a much better solution then leaving or going to a hotel with the kids since it meant they had their friends around and a backyard to play in. As they got older they were less tolerant and tested more- not always being respectful of the no play zone. Of course it depends on the personality of the child and what kind of listener they are. I suggest knowing your limits and be willing to do temporary supportive housing when needed.

Just another comment on MF. Fire alarms are required at times based on the number of units. Rhode Island, understandably with the probably the toughest laws on this requires a fire alarm and usually quarterly inspections on 3 units and above so find out what your municipality requires. If there is such a requirement it is the responsibility of the seller to have this inspected and in order before sale at least in RI. They have to call the fire marshal and have it done or you won't close (trust me our seller pushed it to the last minute and tried to get the system through without complete compliance- no way that is going to fly) In RI you also need a certificate of lead compliance which essentially means lead free friction surfaces, not sure about NJ (although it is one of my favorite places!)

Inspections , If you need a specialist hire one. We had to get a structural inspection and it was worth it. Repairs, bring in contractors to estimate any major needed repair that is complex. You'd be surprised what things cost. Best advice , run the numbers and don't cheat , make sure you include all expenses even if the seller didn't. Our sellers insurance was half ours as he had no coverage...

When you get rent rolls and leases make sure they are complete. Many of the leases we got were just messy and missing pages. Lead disclosures weren't made or there were inconsistencies from lease to lease. Get a payment history. We didn't it worked out okay but I see other people here are not so lucky.

Horror stories well for landlording many are the same issues as single families with the exception that in MF they can hear what goes on next store so sometimes that 's not so good.

Good luck.

Not a chance. Do you provide lawn mowing for single families? We do for one but that is college students. We are thinking about what to do for another single family since it is adjacent to a MF we may include mowing but for other properties in the past we had not. Fertilizing would not even cross my mind just means more mowing to me.

No drop ceilings, they are all plaster. I just had a plasterer in but it started before he got there and I don't think anyone closed anything in. It is the first floor tenant complaining but you have reminded me I haven't been in the attic lately. There wasn't anything there and it doesn't make sense but at this point I am checking everything.

I have checked there are only CO detectors with battery and they don't seem to be beeping. What is a UPS? Universal Power Supply?