All Forum Posts by: Ron DeMaria

Here is the scenario. Due to a defect in the furnace it may have caused the a/c to run while furnace running causing a high electric bill. Tenant is asking to reimburse electric costs. If it proves the case, how would you handle it? My lease has a clause that I am not responsible for defective equipment and everything is as-is. I want to be reasonable. Couple of points. - tenants are excellent. Want to keep them. - I want to do the right thing within reason - I don’t want to set a precedence to bad practices. - bill was $250 when it’s typically 150. What would you do? BP - Thank you in advance

Thank you everyone - great insights as always.

Greetings,

So my simple question is when you sign a lease with a tenant, do you place yourself as the "Landlord" or do you place your LLC as the landlord?

In my previous leases, I have stated my name as the Landlord, and I am realizing it's not too smart, since if (when!) there is a judgement my name would be on record - for a longtime - even though this was a business dealing and not a personal deal.

In my case, I own my properties in my name and self-manage my properties with a Single member LLC., and I am thinking of using the LLC name as the "Landlord". Then, for any judgements the LLC would be named. So, this is not about evading risk but to keep my business and personal dealings separate.

Thoughts? 

Much appreciated!

Ron

Greetings BP!

I have been following the forum for a long time and finally getting started with rental property. I am a newbie investor starting out with single-family homes and plan to expand into multi-family units. For now, I have a few things I am trying to sort out and would greatly appreciate your help!

Thank you!

Ron