All Forum Posts by: Jeff Gates
Jeff Gates has started 23 posts and replied 479 times.
Post: How to determine if I will be able to rent my buy and hold
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Never buy anything that you are not 120% confident the rental market supports your investment plan, and consider bad times as well.
Post: Zillow Rental Manager Questions - editing after activating
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Originally posted by @Krista Place:
You can still easily edit your listing after activation, so don't worry about adding better photos later. The updates to Zillow, Trulia and HotPads listings will show within minutes. The updates to the syndication partners are dependent on how often the partner sites update.
Nice of you to jump in. We love your service! Will you guys ad new partners to the syndication?
Post: Property Management: Eviction Protection Programs?
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
I have researched this and there was a national insurance company doing this, but the stopped the service. In England this is common place.
Post: Your favorite lease clause
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Originally posted by @Corey Arnemann:
Break lease clause.
My break lease clause provides for either party to pay $2000 to break the lease. You adjust the number to your market.
Post: DIY landlords are not accountants
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Yes, pay a mortgage is different than interest expense. Asset accounting may not be necessary. Although depreciation expense is.
Post: DIY landlords are not accountants
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Originally posted by @Dawn Anastasi:
If someone who doesn't know accounting wants to do their own bookkeeping, they can keep it simple with basic programs where you write checks, enter rent deposits, etc. and the software handles the actual accounting behind the scenes.
Generally if you think about it, there are only a few basic types of transactions you do on a regular basis:
- Buy a property
- Record expenses (repairs, property taxes, utilities, etc.)
- Make deposits
- Pay down a mortgage
Isn't buy a house and pay a mortgage a non necessity in rental property bookkeeping?
Post: Are my tenants paying their utility bills?
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Write in your lease that a copy of the utility bill statement must be mailed to the landlord.
Post: What program is best for managing property?
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
Just make a list what is important to you. What features you need, and how much you want to spend, if anything. Then you must ask yourself how much time should I invest in learning the program? Ask yourself if simplicity matters?
Post: Charging extra for basement "storage"?
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
I would write in the lease that this area is excluded from the rental agreement. After the lease signing, I am sure a tenant could negotiate this storage for an amendment, and supplemental storage fee.
Post: Personal Information on a Lease Application
- Investor
- Cathedral City, CA
- Posts 481
- Votes 170
If you apply for loan, they ask for this information. If you open a bank account they ask for this information. If you open a new utility account in a new city they ask for this information. Why should a landlord get less access, as they have assets at risk with strangers?