All Forum Posts by: Brian W.

Ok, thanks for the sound advice. I think we will take that approach. We'll talk it over with out PM tomorrow. 

We don't collect last months rent upon move-in. Not sure if it's a California thing, or just something that our Property Manager doesn't do. I'll talk to him about it on our call tomorrow. 

They gave us a $2,600 security deposit. 

I'm assuming paint, general cleaning, carpet cleaning, etc would eat up about $1,000-$1,500. 

Assuming this, we would be left with about $1,100-$1,600 for us to apply towards back rent which would put them about $5,225-$5,725 behind on rent.  

At the end of this month, they will be $6,825 behind on rent. Their lease is $2,275/month. 

Hello all, my wife and I recently got the following email from one of our rental properties.

Per the advice from our Property Manager, we are pretty sure we are going to let them out of the lease, move them out as soon as possible, and get new tenants in. My questions revolves around the back rent. 

Now, we feel bad for the tenants that they lost their jobs, but at the same time we are running a business here and we are torn about the 2.5 months that we have not received rent. On one hand, this is a difficult time for everyone and we can sympathize with them. On the other, they will eventually get their stimulus and unemployment checks to start rolling in, and we can't help but feel like they are taking advantage of the situation and paying their rent and breaking the lease.

What would you do in this situation and if you decided to pursue getting the missing rent, I'm guessing it would be taking them to small claims court? Any other options we haven't thought about? 

If it matters, this property is in Southern California and they have only been in the property for about 1.5 years. They are always late by a day or two to pay their rent in the past. 

Good afternoon,
My husband and I have been talking and we are wondering if there is a way to get out of the lease due to the circumstances. We would love to stay here but unfortunately we are now so deep in a hole that we are struggling to get out. [NAME] still hasn't heard anything about the PUA loan or PPP loan and the debt is just stacking up with no income coming in. We are now forced to leave and move in with our parents until we can get back up on our feet. We are already two months behind that we will owe on rent and we do not want to put ourselves in anymore hardship and we do not want to leave the owners in a bad position either. We would like to leave on good terms and allow them to find someone who will be able to pay the rent. I understand that we have 12 months to pay the rent we have missed so I also want to figure out how that will work. Maybe whatever is left of the security deposit after inspection can be put toward the rent that we are late on? Please get back to us and let us know what we can do. We are really stressing out. Again, we just want the ability to leave on good terms since we are no longer in a good place due to this pandemic and we would rather leave willingly than eventually have to be evicted.

So it looks like I found the guys website and the pictures don't seem to line up at all. 

http://www.jonbowerlpl.com/team

I'm fairly certain this is a scam email that I didn't click on, but how is it possible that he got my email address? I have everything hidden in my security preferences. Can the Pro members get access to my email address through this website? 

Anyone have any idea why I am getting emails like this that I never signed up for? Strange I got this the day after I signed up on this website. 

Hello all, my wife and I are new here. We own two properties here in CA and are looking forward to learning from the experts here. Thanks for having us. 

Hello all, my wife and I are new here. We are looking forward to learning a lot here. 

First, a quick summary of our situation. We own two rental properties here in our home town. My wife's father has been managing our properties for years and we have decided to make a few changes. 

First, we went to an attorney, created a trust, and moved the properties into the trust. Second, we are meeting with a professional Property Manager in the morning and she will be taking over Property Management going forward. 

Our question for today revolves around creating a new bank account and managing the financials. 

We know we are going to open a new bank account but we are unsure of what kind. Obviously, if we went the LLC route, we would be opening a business checking account. However, since the properties are in a trust, we are not sure if we should get a personal checking account, bank trust account, or other. Since we are the trustees of our trust, we don't see a big benefit in opening a bank trust account since we don't need someone else to manage the funds. For this reason, we are guessing a personal checking account? Something else?

Thank you for your time and we look forward to hearing some responses. 

Sorry for the typo in the title of this thread. Not sure how to edit...