All Forum Posts by: Shawn M.

bump

@Tyler Caruso

 I agree that local banks are giving better rates, but what is the longest loan term you have been able to get? 10yrs?  Firstkey is giving a 30yr note

@Tyler Caruso

 Tyler, do you have any update on your loan/experience with firstkey?

Search on Craigslist for rentals in your target area. It will give you actual data on rents.

Absolutely. They don't move in without it. It is the first line of defense if something happens. Why use your insurance if there is a claim that could go against a renters policy. This will keep claims off your policy and your premium low.

I think being clear is your best approach. I wouldn't want you to do all this thinking that it will make him want to stay as a tenant then after a year you are so annoyed by his bike that you both decide to part ways.

It's a tricky situation. You want to be accommodating but you should still cover your butt with some good clear terms in your agreement. How will you feel if you come home and the garage is left wide open and he is out for a ride?? The key is good communication about your expectations and concerns.

I think you will have to compromise a little. If you help the landlord out by showing the unit early he may be able to find someone to move in after the 1st. Thus letting you stay an extra day. But technically he can show the apt whenever he/she wants and you have to vacate by the 31st. Good luck

Here is a list of all the options i've heard of so far:

Buildium

Chase quickpay

Clearnow.com

Cozy.co

Dwolla.com

erentpayment.com

Intuit's Payment Network

paylease.com

Paypal

Payyourrent.com

Rentalutions.com

RentecDirect.com

renterup.com

Rentpayment.com

Rentpost.com

Rentshare.com

Renttrack.com

Stripe.com

Venmo.com

I haven't had a chance to review them all yet, any feedback you all have would be appreciated.

@Brie Schmidt what accounting software did you decide to go with? I've been looking for a few months too. 

Does anyone know why? But more importantly who can recommend a good FREE service for ACH transfers?

I won't take prepaid rent that isn't associated with the current tax year. Otherwise you will have a huge income this year and a loss next year. It messes up my reports too.