All Forum Posts by: Rich N.

just checked the form and I think the 3rd line "Determine" allows us to now install our own stuff vs paying the fees to the plumber.

Licensed Plumber Certification

I certify that (check all that apply): I have installed the submetering equipment listed above in accordance with accepted plumbing standards.

I have installed one or more water closets not exceeding 1.6 gallons per flush.

Determined that existing water closets do not exceed 1.6 gallons per flush.

The plumbing permit issued by the city/town, if required, is attached.

Thanks. but a little detail into the question.

I understand the plumber has to sign the form, but do they still have to do the actual install ?

I have all the water saving devices in place (some by me and some by a plumber years ago).

I agree with @James E. posting with a general question regarding #1 and 2.

I had been checking into sub-metering off and on and awhile back I thought they had change the law/rule so that you only needed a plumber to verify the low flow items are installed.  Essentially, no longer requiring an actual plumber  to installed it.

Can anyone confirm this ?

I did this about 5 years ago and it cost 375 to remove an old in us one. House had 2 and I went with just the one tank.

Recently, a friend got a quote for a removal and replacement of an In use tank about 2200 for regular tank and 2900 for a sealed (something something...stop listening (haha)) tank with I think a 30 year warranty.

My oops.. its called Accounts.

I do not use a full accounting package because I am frugal.  I just use plain Quicken, not the business, not the rental/property manager...just plain old Quicken.

You just need to create the separate account.  Its more work but when your start small, its affordable.

I have it setup so bank account,  then separate accounts for each property under the llc. Then separate accounts too for other stuff like capex, vacancy or repairs.

i.e.

bank

   123 main

   456 blvd

   capex

   repairs

Just to clarify. Tenant owes you for January and now February and already used the original last month rent with original owner (and you have it document with court paperwork).

Then, No, you will not be able to add it to the 14 day notice.  You can only include monies owed.

There is at least 2 trains of thoughts.

1. Place in a LLC and keep everything separate from your personal (to avoid piercing the corporate veil).
Note: remember to sign everything with " your name, Manager of LLC "
Note: hard to get loans on properties in LLCs

2. Place everything in your name and spend the $500 annual LLC fees on $1MM umbrella liability insurance policy.
Note: if you have a lot of assets, then you would need more than $1mm and possibly the insurance companies may not underwrite it.
Note: easier to get bank loans

it depends on your situation. 

Are you trying to protect yourself against liability?
How many owners? If so, are they all equal partners?
Are you going to be hands on or property management?
Are your properties going to be local or out of state?

Is it a steam or a hot water baseboard system ?

How many units does this support?

I just had a commercial unit put in for 12K for a 5 unit building

Single unit size ones cost about 5-7K in MA.