All Forum Posts by: Ed McIver

Thank you all for your input. I'm going to give it a try. I think it will be much easier for her and not much more difficult for me. 

I agree the bottom line is what is important to me. I see some tenants are poor money managers. This setup should make it easier for them to pay their rent on time. This makes them better tenants. Cuts down on evictions and late payments. reduces turn over.

But I happy to charge them more at the same time. 

Does it create problems for the land lord? Is keeping track of the payments more difficult? Does it make evictions more difficult? is your lease different?

look at the math. $1000./month = 12,000/year       26 x 462= $11,986/year 

I have a young single mother who is paid every two weeks. I want to offer her the option of paying her rent every two weeks as well. Here is why.

If her rent is 1000/month she has 12 x $1000 payments per year. However if she pays every other week she has 26 x $462 payments. They would come out of her paycheck like clock work. It would be much easier for her to pay her rent. I would be the first bill paid.

Does anyone else do this? what would be the pit falls I need to look out for?

Any thoughts on getting a certification of some kind?

I am looking at a bank owned property that has mold in the basement it could be 200 300 square feet of moldy drywall. Behind the drywall is a cinder block wall. 

I'm thinking I need to remove all the drywall and any non structural wall studs. Treat anything that can not be removed with bleach solution and paint with Anti fungal paint. Fix the issue that caused the basement to be damp. Then build out again.

Am I missing something? 

Thanks

Thank you for the input. 

A Tenant says the apartment is not air tight and has gaps where the wind can blow into her apartment. She has asked if I would give a credit, or provide materials to help seal the apartment for winter. The building is old and a bit drafty.

I do not want to give credits. I could reimburse her for purchases. I could just say no. Or have the handy man do it.

What do you think?

thank you

In Maryland land lords are required to place the tenants deposit in an escrow account. Can this be an ordinary Savings account? Can it be a money market account? or a combination of the two?

looking for guidance. 

Thanks