All Forum Posts by: Account Closed

the owner saw the sign now and said start the eviction, he wants her gone. 

i hadnt seen the sign, guess maybe she takes it down on the 1st

Long Term Disability Benefits Insurance.. does your state require these (STD & LTD) for employees?

if i remember correctly, our PM receptionist was covered for STD via remaining on payroll the 1st week he was out sick (as we grant 5 sick days per calendar year, and were closed S&S).

then when his doctor faxed that he can't return to work for a full month from the time he called in sick for his pre-existing health concern, we had to put him on LTD for the other 3 weeks out of our insurance policy, and he got paid 60% his normal pay, only, total, for those 3 weeks.

so apparently one of my PM tenants lost her job and instead of finding a new one, according to the neighbors. has people knocking on the shared front porch door often for tailoring services and she also sells clothes from her apt and babysits too.

the lease doesn't say she cant do business from home nor say she can't put a sign in her window, but what about the quiet enjoyment for other tenants?

this is residential zoning not commercial, in case that matters. 

is it better to have both? or will one suffice depending on what the property's used for?

what would be best for mixed use ie a 2fam where u live in 1 unit and rent other out?? 

and what insurance would be best for commercial property used for non-profit animal shelter startup?

(no loan, so no lender to be requiring statutory/minimum coverages etc in this instance.)

Thanks Bill et al, as usually, very insightful advice! 

Ok I think I get it now. Lost your job?  Child support after you? So what, pay your rent on time don't give me ur sad stories.. business for business.

Yes I will require 4X income for this city from the start (new rentals) rather than risk wanting to up the bar after the fact, for reasons well noted by others above.

Ok sounds great Steve; so if they lost their income and they're in a 1 or 2 year lease they're so screwed for the rest of the year(s) due if they can't regain income fast enuf!

Luckily so far I avoid long term rentals cuz of all those variables; my idea in this pro-tenant state/coast(?) is if you can't make it, don't bother to fake it... or i mean to say tenants/people nowadays at first point of contact can be so eager and devoted to commitment and stability but nevertheless driven by mood swings and miscellaneous life drama that eventually contradict the long term lease they have no problem at first agreeing to enter.

Anyways so yeah I'll just leave it at that and set the income bar high that way worry less about loss of income situations; their problem.

Ok I will give creditkarma a try, Jase! I'm definitely taking alittle of your path. Ie, i'm thinking if a Verizon subscription (already have FIOS without a deposit, may apply for a wireless contract; they may require a deposit) will provide one credit entry, that's better than no credit entry open.

But yea unless FIOS is a credit entry, then currently I have no good open/active credit entry. Right now I just have gas, electric, water, tax, insuranceS bills, and about to open all those also at 2nd property cash-closing on later this month. Never had an auto loan or anything like that.

would it be legal to require applicants make at least 4X the rent monthly to be considered?

ie rent is 1000 so must document that income is at least 4000 every month?

also how could it be made legal, if possible somehow, to  include in a month to month written lease, that reduction of income by 50% or greater and/or loss of income for more than 2 weeks must be communicated to owner in writing and either such event understood as the equivalent to a 30-60 days advance notice of moving out (to hopefully a cheaper apartment for their new lower income situation)?

Ok thanks Steve I'm thinking is it okay to stipulate in the work agreement that if contractor provided incorrect SSN/TIN or it was omitted then they will be liable for any and all witholding and/or fees assessed by IRS for the error/omission?

Thanks Jason and Steve, you guys are awesome and like two sides of the credit 'coin'.

I totally feel the same way about personal credit being more in 'best interest' than creating an alternate credit file via a business!

Likewise, I'm hesitant to bother with a secured credit card. I mean, the interest on the security deposit I'm guessing will be like .0001% and the issuer might charge fees for just having it. 

So I'm with Steve on screw 'em! 30 months sounds like music to my ears, as time flies afterall. Nope never had a BK nor foreclosure/repo nor any ongoing delinquent accounts since they're now all settled, so I'll just let those negative entries get so old enough they no longer count much against my creditworthiness and while I won't 'borrow' to build my credit I'll still entertain getting a cell phone contract (right now i'm on prepaid).

To me, assets/net worth is more important than credit. But, being able to get morts in a couple or few years will help build my portfolio and stop me from buying properties all cash.

Gee, I wonder if already having Verizon FIOS affects my credit? Or do I actually have to sign up to postpaid (contract) wireless phone service with them(or competitor)?