All Forum Posts by: Account Closed

It is a townhouse right in the middle of a 6-unit building. 

Good suggestion about renters insurance, I might need to start doing that.

So I will have a tenant move out soon.  There are burn marks on the carpet in one of the bedrooms and one of the kids confirmed that her brother way 'playing with fire' -- this scares me.  But anyway, should I charge them some small amount, maybe $200, our of the security deposit even though I was going to be replacing the carpet anyway after they moved out?

@Wesley W. might be a good idea to run by an attorney.  Having said that, does the lease say that she has use of just that one space?  If so, then I would think that the other space is your private property so you should be able to tow with no problems.  It might make for one unhappy tenant if you actually do it, so I would start with trying to block the space and giving her some sort of a notice in writing.  But you have to tell her you will tow.  If all she gets is a reminder every time she does it, she won't change what she's doing.  She hasn't yet.

You can start by getting some big orange cones and placing them so that she can't use the other spot. And a 'reserved' sign. If she moves those,puta 'ticket' on her windshield stating that next time car will be towed. And then tow if happens again.

I read somewhere that providing the tenant with a 'move-out letter' once they've given notice is a good idea. The letter tells them how to leave the place (empty and clean), details about the deposit, instructions to cancel utilities and subscriptions. Do you guys do that? If so, what other details do you include? Thanks in advance.

Tony Velez you're in CT so they have until midnight of the 9th day after the due date to pay with no penalties. I would definitely charge a fee if they go past that and I would start eviction process 5 days later. But that's just my take on it.

James DeRoest it would be to make repairs. They're not home much so it's difficult to find a time that works for everyone. They've told me I can go in when they're not home but I usually reschedule to make sure they're there.

I don't like entering the property when the tenant's not home (unless it's an emergency). Just don't feel comfortable doing it. Are there any rules around that? Does anybody know?

Can't insure against increases, but my policy includes special assessments, minus the out of pocket of course.  So yeah, I'm still paying if it comes up but at least it's somewhat manageable.  

Which towns are good for multifamily homes? And no, I don't think I would be going for larger ones, at least not yet.

I'm in East Granby, CT and looking to buy my second rental property.  I currently have a condo that I am renting out but it wasn't originally purchased with investing in mind.  I've heard and read quite a bit about people's bad experiences with condos and high special assessments, but haven't had any bad experiences with that at the current complex.  On top of that I did insure myself against special assessments.  Anyway, I was originally thinking about getting another condo, but now am scared after all the horror stories.  Should I get a single family house instead? Condos are so much cheaper and really easy to rent out.  I am considering a duplex as well but those seem to be harder to find in this area.  Any thoughts and suggestions would be appreciated.