All Forum Posts by: Gerardo Ali

I have 2 garages on my multi family property, I was wonder if anyone knows what the process is for permits and sewer costs? It already has power and I can do majority of the work, wonder what’s costs have others come across this conversion?

@Andrew Schrader when I first took over this property all the tenants knew their rents were way below and the other 3 tenants happily agreed to the increase when their lease was up. Just this one fell in the middle of the month and the tenant didn’t sound confident in signing for another year. Luckily, I am in a highly desirable neighborhood, and scope about 1500-2k worth of upgrades to do if they don’t plan to stay, which will definitely create demand.

@Ned J. It’s actually a difference for month to month will increase $225 or if they sign a new lease it increases $150. The previous owner didn’t bring it to market rates. So I did present a 60 day in Nov and 30 in Dec. So that Jan 18th the new rate goes into effect. Should I still leave the w/s/g or charge that as it’s going to be the norm going forward?

@Ned J. Yes that’s correct, I presented the 60day in nov and the 30day in dec. So come Jan 18th they are aware of the increase

@Nathan G. Doing the impossible by Patrick Bet David, he’s brilliant in showing ways to excel as being an entrepreneur!

I have a tenant who’s lease is up on the 18th, I posted and presented the new increase 60 and 30 day notices and they are going to go month to month for now, can I charge the new daily rate for the remaining 13 days?

Also I am starting to charge w/s/g going forward, can I also change that for the 13 days?

@Jon Arsenault thanks Jon, just sent the lease agreement! Thanks for your input

@Patricia Steiner thank you.... just nice to know I’m on the right path

I have a potential tenant with 750 plus credit, makes 48k a year, takes home about $3200-3900 a month. Her husband is a nonprofit worker who doesn’t get paid, stays home. They got great previous rental references and her employer loves her. My unit that she is trying to rent is $1275 per month.... is there a golden factor or times that I should look for income...?

@Nathan G. Thanks Nathan, that makes sense, they only have a few more months so I’ll send the 60 day notice soon. Appreciate it