Snow in July (by Eilene [ME]) Jun 23, 2018 1:18 AM
Snow in July (by TenantWhisperer [MA]) Jun 23, 2018 1:22 AM
Snow in July (by Still Learning [NH]) Jun 23, 2018 4:57 AM
Snow in July (by Steve [MA]) Jun 23, 2018 5:30 AM
Snow in July (by Gwen [NY]) Jun 23, 2018 5:31 AM
Snow in July (by LindaJ [NY]) Jun 23, 2018 5:38 AM
Snow in July (by LindaJ [NY]) Jun 23, 2018 5:45 AM
Snow in July (by AllyM [NJ]) Jun 23, 2018 6:43 AM
Snow in July (by JB [OR]) Jun 23, 2018 10:06 AM
Snow in July (by Tom [FL]) Jun 23, 2018 10:30 AM
Snow in July (by JB [OR]) Jun 23, 2018 10:48 AM
Snow in July (by Tom [FL]) Jun 23, 2018 10:59 AM
Snow in July (by LindaJ [NY]) Jun 23, 2018 12:43 PM
Snow in July (by Chris [CT]) Jun 24, 2018 9:34 AM
Snow in July (by Wilma [PA]) Jun 24, 2018 12:21 PM
Snow in July (by Nellie [ME]) Jun 24, 2018 7:11 PM
Snow in July (by Nellie [ME]) Jun 24, 2018 7:18 PM
Snow in July (by Wilma [PA]) Jun 25, 2018 9:16 AM
Snow in July (by Eilene [ME]) Posted on: Jun 23, 2018 1:18 AM Message:
I know it may seem a bit odd , but I am right now currently deeply involved with a snow issue.... As a "newbie," who just inherited a lovely two family residence up here in Bangor, I am tying to decide whether or not to sell the place, You see , if I keep it, (which I would like to do because I really need the future income from it) I must find the best way to arrange for ice and snow removal etc. for the 2 rather elderly couples who are anxious to rent its apartments.
Previously, my deceased uncle handled this matter with a snow blower and lots of hand shoveling etc. But as a 45 year old, 116 pound single woman, living two towns away, that would be out impossible for me.
So, what I would most appreciate knowing is how do others more experienced than I am - in similar climates -effectively and economically usually handle such a situation and the associated wording in a lease?
Many thankyous for any guidance offered.
Eilene
--173.48.xxx.xxx |
Snow in July (by TenantWhisperer [MA]) Posted on: Jun 23, 2018 1:22 AM Message:
Who handles the lawn care now? Often these same folks handle snow needs in winter. Just a thought. --73.16.xxx.x |
Snow in July (by Still Learning [NH]) Posted on: Jun 23, 2018 4:57 AM Message:
I have 2 multis. The one with separate entrances must shovel their own stairs and back decks. The other, the plow company will shovel front and back steps and walkway each time they are there. Ice melt and shovels are left inside the doors for tenant use if they choose. The plow company take a swipe through the parking lot during the storm and then in the morning between 8-10 the next day all cars must be out of the lot for a complete plow. --24.61.xxx.xx |
Snow in July (by Steve [MA]) Posted on: Jun 23, 2018 5:30 AM Message:
Eilene, for a modest fee, I'd be happy to handle all of your snow removal needs during the months of June, July & August and possibly even September.(g)
As TenantWhisper suggested contact some of the local landscapers to see if they offer snow removal. You could also ask some of the neighbors who does their snow removal. If none of them do it ask who they would suggest you call.
Make sure they realize exactly what you need plowing shoveling, sanding etc.
--72.93.xxx.xxx |
Snow in July (by Gwen [NY]) Posted on: Jun 23, 2018 5:31 AM Message:
I think you need to re-think the big picture. If you are just need income and have no other sentimental attachment to the property, consider selling and buying either:
1. Mutual funds which contain stocks
2. A rental in your own town, that you can maintain yourself. --74.70.xx.xx |
Snow in July (by LindaJ [NY]) Posted on: Jun 23, 2018 5:38 AM Message:
Local landscape companies will do this, property management companies. Even individuals in my area with plows for their trucks do it. Some people have a crew that do it with snowblowers. It will cost you and there are limitation to what they will do. You need to find these people. At this time of year the property management or landscaping companies are the places to look. Come fall there may be ads in papers, craigslist, or lawn signs. Check with the neighbors as to who they hire, maybe one of them will even do it for a fee.
In my case, they don't start plowing until the snow is almost done, and I am not the first they do but they do try to get the driveway clear before it is time to go to work. If the tenants do not move their vehicles when they hear the plow truck, they might get snow dropped near it, since they plow the best they can. I don't pay for walkway clearing or ice melt spreading. Since my places are close by, I will get out later in the day to check on them and clean things up if need be. --108.44.xx.xxx |
Snow in July (by LindaJ [NY]) Posted on: Jun 23, 2018 5:45 AM Message:
If you inherited this building, be aware that you have a cost basis on the property that is at the time of inheritance, so your taxes if you sell would be less as the profit you pay taxes on is above that amount.
Managing a building two towns away is a challenge. Even heat issues or checking on things, It will cost you to have people do that for you. Many problems can be solved by the LL with a quick stop at the property to check before calling a repair person. DIY is actually paying your self to do it because you don't pay someone else.
Get over you small stature.. it is not an excuse, there are plenty of small women that can do a lot themselves. 2 towns away is a valid issue though. --108.44.xx.xxx |
Snow in July (by AllyM [NJ]) Posted on: Jun 23, 2018 6:43 AM Message:
I was a fifty year old 120 lb woman and I ran snowblowers and shoveled but the rentals were all within two to three blocks. I stored snowblowers at each property and had sheds built to hold them. The State took 27 K in inheritance tax from me and I had no money to pay for grass cutting or snow removal. But, first of all why do you feel obligated to rent to the two nice elderly couples who can't move snow? It's not good for them and since they are not thinking perhaps you can pass them by for their own good. If not, then lawn services around here generally do snow removal and it's best to hire them for all seasons so they feel obligated to show up. They never show up first thing as they do their neighbors and relatives snow first. Putting a nice expensive snow blower on the property will help since their equipment may break often from hard use. --73.178.xxx.xx |
Snow in July (by JB [OR]) Posted on: Jun 23, 2018 10:06 AM Message:
I gotta agree with Gwen here. You either need to sell this thing (and you could consider buying in your town) or you need to get a good property management company to take care of these things for you.
Long range rental properties don't generally work out well for DIYers. --50.45.xxx.xx |
Snow in July (by Tom [FL]) Posted on: Jun 23, 2018 10:30 AM Message:
Eilene of ME, IF you plan on keeping the rental unit. Then it may be worth it for you to do a 1031 exchange to a property in your town. 1031 exchange will move the tax burden to the new house without you receiving any money from the house that you sold. Purchasing a unit in your home town will help you maintain the property and be able to do a drive by and handle maintenance issues easier in the future with handymen and contractors.
SNOW is a bad word in Florida, "The Sunshine State" --99.56.xx.xx |
Snow in July (by JB [OR]) Posted on: Jun 23, 2018 10:48 AM Message:
No reason to do a 1031 exchange. There should be no tax burden.You already have a stepped up basis in value....... --50.45.xxx.xx |
Snow in July (by Tom [FL]) Posted on: Jun 23, 2018 10:59 AM Message:
OK I did not think of the stepped up basis from her Uncle to her. However lets say the stepped up bases is $100K value and she sold the house for more due to a hot market in that area of Maine. I guess depending on the gain over the stepped up basis would it be worth the costs to do the 1031 exchange expenses.
--99.56.xx.xx |
Snow in July (by LindaJ [NY]) Posted on: Jun 23, 2018 12:43 PM Message:
Tom, it may be worth it to pay the taxes now. Depending on the area, comparable houses can have different worth/cost. The tax rates may be less right now then say in 20 years when it is sold. How much more is it worth from that stepped up basis? Finding another house in the right time frame can be a challenge as well as third party costs to hold the monies.
Figure the actual net income of being a landlord and the possibility of investing this somewhere else with no work or expenses, the loss of value if the market falls. Lots of things to think about staying a landlord and when and how to get out.
--108.44.xx.xxx |
Snow in July (by Chris [CT]) Posted on: Jun 24, 2018 9:34 AM Message:
Hire it out. With slip and fall lawsuits these days I'm amazed at landlords that still do snow removal themselves.
--24.45.xxx.xxx |
Snow in July (by Wilma [PA]) Posted on: Jun 24, 2018 12:21 PM Message:
Bangor! I'm a follower of the Bangor Police Department FaceBook page - I'm a big fan of the D.O.J. (Duck of Justice). Seriously, the writer of the page is a gifted writer - sometimes funny, sometimes heartwarming, nearly always interesting stuff. Check it out! --71.175.xxx.xx |
Snow in July (by Nellie [ME]) Posted on: Jun 24, 2018 7:11 PM Message:
Greater Bangor Owner and Managers Association has some providers listed in it’s monthly newsletter. A lot of the landscaping companies provide snow removal services. Be sure they also do sanding.
If you have oil heat you can get a good discount with the company that has an agreement with GBAOMA. Worth the membership fee.
I am in Bangor also. My husband handles the stuff with the plow man so all I know is his name is Mike. I truly miss our old plow man who did a great job plowing. --64.222.xxx.xxx |
Snow in July (by Nellie [ME]) Posted on: Jun 24, 2018 7:18 PM Message:
Wilma PA
The Duck of Justice has become a local star. Lots of visitors from all over.
“Keep your hands to yourself, leave other people’s things alone, and be kind to one another.” TIm Cotton, Bangor PD
--64.222.xxx.xxx |
Snow in July (by Wilma [PA]) Posted on: Jun 25, 2018 9:16 AM Message:
Nellie(ME) - We landlords could stand to have our tenants act that way! --71.175.xxx.xx |
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