All Forum Posts by: Dale Walker

I have used TenantCloud for years. I only have a couple dozen units so I use their free version. I have not been disappointed with them. 

@Chris Brown Thanks for your response. I greatly appreciate it! Best wishes to each of you for your help!

Thanks guys! I found a list of Qualified intermediaries on the BP website, should I look at using one of them or are there local banks/people which can help facilitate this? I guess I don't know would qualify as an intermediary. My wife is a real estate agent. My first thought might be her broker. Thanks again!

Question for you 1031 experienced investors. I own 3 rental properties (duplexes) which I would like to 1031 into 1 larger purchase (12 plex). Can it be done or is it a 1 property for 1 property deal? 

Thanks for any advice. I have never done a 1031 before and this is new for me. :)

Open an account at a different bank. Some do accept cash. All types of cash. 

If they cannot document it as a service animal, then they submitted a incomplete application. 

IF you fear a lawsuit before they move in, just imagine your lawsuit when they do move in and you are in their control.  

Get rid of your PM.  I have had people threaten to sue me for discrimination but I remind them that there are protected classes. Criminals are not a protected class. Pet owners are not a protected class. I would tell the prospective tenant that I will continue to take complete applications until it is rented. If they do not have the proper paperwork to verify that it is a service animal, than it is considered a pet. You can discriminate against pets. I require a prescription, to verify a service or Emotional support animal. Without it, it is just a pet.  Alot of people threaten to sue but most don't have the money to get a lawyer to find out they don't have a case.  Bottom line, get rid of the PM. Give your PM 30 days notice and find a new PM to take over.  Personally, I would find a more qualified renter. Let them spend thousands of dollars in lawyer fees to find out you choose a different qualified renter. 

Your obligation is to make a list of damages with associated costs to remedy. Take their deposit and subtract all the damages. Send them a letter to explain why you are keeping that portion. If more is owed than you have in a deposit, send them a bill. Check your lease to see what time frame you have to send the letter. You can take them to court to recover any balance owed. 

The list seems reasonable. Get them fixed.  Minor things like these can be done on your schedule though. If they want new floors/carpet or major issues, you should tell the they rented the place as it is.

Run. People have bad credit because they don't pay their bills. Giving them another bill won't change their priority list. I recommend you pass. Look for ppl with good credit and a stable job. Tenants need something to lose to hold them to pay their bills. I have found my tenants who don't pay their rent have the money they just prefer not to pay because they think they don't have to.

Never heard of the sensor for leaky toilets. I know of pressure sensors to have the water level stop. You can easily adjust it if the water level is too high.  If the toilet is running constantly, that means the water level in the tank is above the overflow. Just adjust the inside screw to a lower level and that should prevent the constant filling up of the tank. In regards to utility savers, I have heard of putting a plastic soda bottle (filled with water) to take up space in the tank and it would save a liter of water per flush. Some toilets it works fine with but others need that extra liter to flush completely.