It is a pleasure learning from both of you. Thanks, Neil

Hi Everyone, A friend found a legal triplex to buy. Currently, the seller leaves in the plex and does not rent out any unit. My friend plans to move in upon closing and do the same - not rent out any unit or maybe rent out just one of the units. Can he put 5% down? I heard 1 or 2 units...

Whoever it is just ensure you have by law coverage. Example: Fire! - no by law: say 100k damage. insurance pays only 50k, you pay 50k, because ooops - insurance only pays to put back as it was before fire but.. new built requirements are different now and more expensive. - with bylaw...

Hi Everyone, A nice tenant in a 20-plex my partner purchased, wants to continue cleaning the building. He used to do that for the previous owner. The only difference is now there is a PM my friend hired where previously the owner managed the building. Should my friend re-hire the nice...

Perhaps just few disadvantages related to deposit cards: - what if the PM is a team where different people deposit monthly. then a small hassle ensuring the right person has the card each month. well unless you provide as many cards as needed - some prefer not to add cards to their wallet...

Hi everyone, A good friend has a nice tenant. She is a bit sick and from time to time her hands are weak and can not grab stuff. Therefore, installing a handrail near the tub (which was somehow installed in a very narrow bathroom), will not help the lady get in and out of the tub. The...

Isnt such a system (smart cards) not a good idea for a 20-plex? Is it not too small? The reason is revenue sharing plus fee would drop revenue from about $300 (coins) to $100 (cards)/month. Even Phelp was honest and told my friend not to do it. only from 40 units it starts to make sense. I...

Just to add their 4k work also results in getting rid of the handle locks. Meaning when this company is done, you are left only with dead bolt locks. The company explained the benefit is (with a deadbolt lock only) tenants will never again lock themselves out by mistake. Therefore, the landlord...

Thank you for the additional information - deposit card is a nice idea. Guess you support providing the business account and do not see any issue with that. Not his case, but I thought if a bus. account has 100,000 for example, then maybe investors are not comfortable providing the business bank...

Hi Everyone, A friend bought a 20-plex. He is working with a PM who will collect rents and deposit net amount (Rents - Expenses), monthly, to his bank account. He has a business account with one of the big banks, which he opened for this building. Should he just provide his PM with...

Hi Everyone, A good friend received a quote from a pest control company. They charge per application and he thinks the cost per treatment/application is reasonable. He always treated units twice 10 days apart to ensure eggs are taken care of as well. The only surprise is this company...

Hi Everyone, A friend received a quote from a key company to replace all locks, then prepare a master key for all units. He is a bit surprised quote came at around $4000. Is it a good idea to change all tenants locks in an apartment building and then prepare 1 master key to provide the owner...

Hi Everyone, My friend received a quote from a company installing smart card washers and driers. He is considering installing their system in a building with 20 apartments. The company mentioned 2 washers and 2 driers are needed. The prices are $30/month per appliance so $120/month for all...