All Forum Posts by: Phillip Dwyer

Troy Fisher will likely have some input on this topic in regards to the 2-4 family segment. Are you interested in this or larger properties?

Rob K Thanks for the grid drain link. This will come in very handy.

That makes sense. I went to Drake in Des Moines, and have been told by a few old classmates that the Iowa market for pharmacists is saturated due to the Drake and Iowa programs. So if you can get paid more somewhere else and dodge the snow, go for it!

Have you looked in your own backyard? Do you plan to stay in Iowa City, or Iowa in general? You're in between the Quad Cities and Des Moines which may have properties that meet your criteria.

K. Marie Poe Thanks for the insight. That makes sense to me.

I read it the same way as Jon Holdman, but I'm not an attorney either.
One more thing to point out here, is that you have to consider what "normal wear and tear" is for this type of dwelling. Certain things just wear out over time, and shouldn't be considered damaged caused by tenants.

You can collect "reasonable" fees in addition to security deposit at the start of the lease. the no refundable fees you might charge would be a cleaning fee, a app processing fee, filing fee, etc. for deposits you'll still have to follow the procedure outlined in the link I mentioned earlier.

If anyone has info regarding how a judgement in favor of the tenant can impact the owner's credit, I'd love to know about it. I would think this will only be an issue if the owner doesn't/can't pay, but I'm no credit expert.

I don't know of anyone in my market that doesn't charge some sort of leasing fee.

You may want to check on the market value. There's a decent chance you could sell now.

http://www.leg.state.nv.us/NRS/NRS-118A.html#NRS118ASec240
Click on the security deposit section to read up on Nevada law.