All Forum Posts by: Patrick M.

@Pat L. I am curious, if @Justin Thorpe is correct and NYC becomes a Portland of the East. Where do you think the "Autonomous zone" will sprout up during the next protests?

I'm thinking downtown.... Maybe all south of Pine.

@Justin Thorpe It is making it easy for the people who could never dream of affording the pre-pandemic rents. With these bargain basement rents we are seeing a lot more underprivileged people from poorer outer boroughs moving into to take advantage of the school systems. The homeless epidemic and crime will not phase them one bit. It will certainly be renaissance of sorts.

And there are still others waiting for landlords to place the vast number of warehoused apartments on the market.

Perhaps you are correct, it will be a Progressive's Shangri-la.

@Justin Thorpe There are a lot of people around me that are either interested or actively picking up an apartment on the side, having escaped the city permanently, at these fire sale rents. They plan on using them for a couple nights out of the week when they go in to the office for the 2-3 day work week. 

There are a number of people who are using them the way flight crews use apartments- many people sharing the cost of these now rock bottom rents and splitting the time. This still does not bode well for retailers, lunch spots, etc. that relied on all of that daily traffic.

Fortunately for the cities, it appears that with the ever widening bail out will continue to provide them with the welfare that they need to exist at the expense of the more rural states. Unfortunately there is clearly no incentive for them to get their fiscal house in order. 

Based on the insolvent public transportation, it appears that middle America will once again be bailing out the cities.

@Anna Neal I tell interested parties to bypass that portion of the application. They will only be asked to go back and complete it if we are moving forward after the showing.

There will be time before it begins to seep anywhere. If you have a good tenant that comes home to an accident they will usually have time to get to it before it works itself into the seams. 

@Michelle Gerac I set-up a separate landlord tenant account when I take a deposit. So as part of my final paperwork I have the tenant sign a lease, fill out a W-9 and sign off on the lead paint disclosure. I take the W-9 to the bank with their deposit check and Chase sets up a free, interest bearing account which is in the tenant's name and controlled by me. They receive a statement from the bank every month so I don't have to worry about disclosing it to them.

I have heard people doing it differently, but comingling is always a no-no in my book. I find this cleanest and easiest way is the above. I have yet to deduct from a deposit, knock on wood, and I give them the .24 cents they make a year.

We took over units with pets. We had to go down to and rip out the sub-floor. No pets in our renovations.

Follow all the advice of @Nathan Gesner Liquid pools on LVF. 

It definitely adds a layer of management.

I would just do the grass and see how it gets used. That alone would be a HUGE improvement and certainly appreciated.

Tenants will put their things where they want and trying to direct them will only frustrate you.

Security Deposit- 1 1/2 months rent. The most I can charge in NJ. If I could charge more and get it I would. I have always been in the position to return 100% of it plus interest.