All Forum Posts by: Diana Johnson

Hi, I'm looking for the response regarding the SimpliSafe Home Security system.  Is the member discount still available?  Thanks

@Steve Vaughan

Hi Steve. I left out that my business will be a partnership and our focus is on buy and hold. I was already sold on the LLC. LOL. Do you have different thoughts on that?

@Denzil Dwelle

And I should have clarified that this is a partnership with my husband and brother as equal partners. Thanks

Do you really need an attorney to set up your LLC and Operating Agreement?

Hi Everybody, Thank you so much for responding to my question!  I've learned a lot.  This is my first property and my third tenant (multifamily property).  My goal was to get feedback from those who have been in the game awhile.  Because I'm new I don't trust my gut just yet, but that will come with time.  I followed the advice of those who suggested I dig a little deeper and there was good learning.  Some of the learning was just about navigating the court sites. I also learned that it may be wise to do a background check on myself just to see what's there LOL. 

I did find that the "infraction" was a 2018 speeding ticket (listed as criminal erroneously) that was paid before the court date, two of the charges came from a landlord who regretted filing in 2012, and one was related to a bad boyfriend breakup (broken car side mirror) 2014. I also found a 5th case that was not on the Transunion Smart Move report.  This complaint was filed by her own mom in 2008.  The angry mom decided to teach her 17 y/o a lesson about borrowing the family car without asking.  Mom dropped it well before it went to court when she learned that she had only made more work for herself.  Their relationship is fine now.

I did my research and then face-timed the prospective tenant.  First, she was surprised I could find this history (spanning 10 years) since she wasnt found guilty for any of it.  Second, she owned it and spoke to her personal growth.  I also looked at my application, as one of you suggested.  It does not ask about past criminal history, court cases or arrests.  I only asked about credit, work history, and where she's lived previously. 

Going forward, I will make my application more robust.  I'll share all of this info with my business partners.  If we decide to go forward we may consider a higher security deposit and maybe a guarantor to be on the safer side.  We'll see.  Regardless, I can't thank you all enough. 

All the best, Diana

I got the results back from a tenant background check.  She is 28.  Credit is perfect, but she's got four criminal results.  2 are from 6 years ago (marijuana/traffic), 1 is four years ago for $1,000 of property destruction, and 1 was last year for an "infraction".  None of them led to conviction or even probation.  It appears all charges were dropped.  Also, I did meet/interview her face to face and she was lovely.  The results are bothering me, but it could be because I have a clean criminal record and I guess I expect others to be clean as well.  Honestly, I do feel like I'm being judgmental. My question is, regarding criminal background what's average for a good tenant?  

@Thomas S. Got it. But where does the LLC come into play. Regardless of the amount of insurance I have (or don’t have) if I get sued isn’t there a cap because of the protection afforded through the LLC?

@Thomas S. Thomas and Jonathan, you’re awesome. I will adjust my ad and have the current tenants screen. Thanks!

I have a 3 bedroom condo. Rooms 1 and 2 have been rented young women. They prefer that room 3 be rented to a female (tenants in rooms 2 and 3 will need to share a bathroom). Is it ok for me to advertise room 3 as “female tenant preferred”? I don’t want to be accused of discrimination.

@Joe Hines Hey Joe I’m working to follow the advice that you have me a couple of months ago. Initially it felt like I was cutting into the profit way too much, but this weekend we had to fix something connected to our heat pump and I was glad to have reserves. Thank you!