All Forum Posts by: Patrick Mellea

Understand LLC for any and all commercial properties (5+ units), but how about for a simple 2-family home? Currently I have homeowners insurance + umbrella policy. I did this given better bank rate I received when I started in 2014 and have just left it alone. Should I switch it to LLC?

Hi, 

I have the exact same situation.  As far the cost, you should pay that yourself as owner and charge a rent that "includes utilities."  So my current tenants do not pay utilities, but rent is priced accordingly.  

Regarding the heaters, I have same issue and unless you separate, which can be costly, I don't have a good solution.  I just ensure my first floor tenants keep the thermostat at 68 degrees from 6am to 11pm and 65 degrees 11pm to 6am (NJ Law).  If upstairs tenant complains, I ensure the thermostat is set accordingly.  If others have better solutions, would be great to hear.

Thanks,

Pat