Renting Room to a Friend


I just bought my first apartment and I’m renting the second bedroom a friend of mine. I’m living in the apartment, too. Does anybody have any experience/advice in putting together a contract for this situation? We’re good friends, but both agree that a (semi)formal contract is necessary to avoid any misunderstandings. I’ve looked online for sample lease agreements, etc, but haven’t found any examples where the landlord is living with the tenant. Thanks!

Categories: Tenants
By lgs782 | 09/20/2009 5:37 PM | Comment

Condo Insurance


I’m about to close on a 2br condo in an older building that’s just been gut renovated. I need home insurance before I can close. Does anybody have any good reviews? Online quotes from Allstate and State Farm are comparable, but if anyone has anything good/bad to say about their experiences I’d appreciate it. Thanks.

Categories: Insurance
By lgs782 | 07/31/2009 10:43 PM | Comment

Benefits of a Mortgage Broker?


I’m in contract for a condo in a sponsor building. I’m a first time buyer now ready to secure a mortgage. My (relatively modest) income is supplemented by more significant money in the bank, but I know getting a mortgage will likely involve more paperwork/scrutiny as it’s not as straightforward. Should I try to do this on my own or should I get help from a mortgage broker? What real purpose does a broker serve? Thanks.

Categories: Mortgage
By lgs782 | 06/25/2009 9:48 AM | Comment

self-managed condo?


I’m thinking about buying a condo in a 9 unit sponsor building. One stipulation in the contract is that the building will be self-managed, unless the condo board chooses to hire a manager. Since nobody has moved in to the building yet there’s no existing condo board. Of course the board could choose to hire a building manager, but maintanence would then naturally go up. Does anybody have experience self-managing their condo building? Is this common? Does it work? I envision all sorts of complications. But one less expense, too…

Categories: Management
By lgs782 | 06/06/2009 9:55 AM | Comment