landlord – Francois et Moi

Duplex Growing Pains

francoisetmoiblog@gmail.com — Fri, 21 Aug 2020 02:27:43 +0000

Between working from home and a 2nd baby on the way, we’re feeling duplex growing pains! Come see what’s next for our little Tudor duplex! As you guys know our house is a duplex and we’ve been renting out the upstairs apartment over the last 5 years (which I highly recommend!) The rental income paid a big part of our monthly mortgage (and allowed us to put more down each month). It helped us buy in a neighborhood we were otherwise priced out of, and it allowed me to work part time so I could be home with our daughter more. All to say, owner-occupying our duplex has been an awesome experience. However, this year with Ken and I both working from home and preparing for baby #2’s arrival, we’re starting to feel the need for a bit more space. With everything going on, we’ve decided 2020 isn’t our year to pick up and move. Instead, we’re staying put and annexing the upstairs apartment as a cohesive part of our house. Here’s a look at the empty space up there right now. There’s about 800 sf that will work great for our office/guest room, a 2nd family hang-out space, a […]

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I am Landlord: Permitting, Inspections & Marketing Your Duplex

francoisetmoiblog@gmail.com — Tue, 26 Mar 2019 17:53:37 +0000

Thinking about becoming a landlord? Then you’ve got to read my ‘I am Landlord’ series. This week we’re talking permitting, inspections and marketing your duplex! So you’ve purchased your duplex property, and….now what?! How do you legally begin leasing the place? Licenses, inspections, and contracts, oh my! Continuing on in our landlord series (see the first post in the series on what to consider when buying a duplex), let’s talk about where to start, legal paperwork, and marketing your duplex to find a tenant who’ll be a good fit. How to Legally Become a Landlord Request a City Rental License: The first step in renting out your duplex is submitting the rental license application form along with payment and the additional documents requested on the application. Permit fees are based on the property’s tier rating and the number of units within the property. Well maintained properties are typically tier 1. In Minneapolis, the rental license fee is made up of three parts and must be renewed annually: Building Fee + Unit Fee + Supplemental Fee (if applicable) When we initially contacted the city to request a rental license, they informed us that a rental license hadn’t been pulled on our […]

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I am Landlord: What to Look for When Buying a Duplex

francoisetmoiblog@gmail.com — Mon, 21 Jan 2019 14:00:25 +0000

Interested buying a duplex and becoming a landlord? Let’s talk about some key logistical things to consider when thinking of making the leap. Something you may not know about Ken and me is that we’re landlords. Owner-occupied landlords, to be exact. What is owner-occupied, you ask? All it means is that we own the duplex, live in one unit, and rent out the other one. (We’re on the main floor unit and we lease out the upstairs apartment.) It’s our first home and we went the duplex route not only because it’s a good investment, but we’d been living in apartments since college, and the idea of sharing walls with a tenant isn’t a foreign concept yet. I’ve had a lot of questions on Instagram about how our duplex is set up, so to clarify, there are two completely separate units. The front door opens to a shared foyer and from there the home splits into two separate locking units. Like with anything, there are pros and cons, but overall buying a duplex and becoming a landlord has been a fantastic experience. We’ve been able to pay down more on our mortgage every month, afford to live in our desired […]

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