All Forum Posts by: Dan Moore

Can't answer all the questions, but maintenance would be expensed in the year it was performed. Repairs could be amortized or expensed in the current year, just depends on what it was, and how aggressive the accountant wants to be trying to write things down. Since you are asking, I'm assuming you don't have an accountant looking at this. That would be my suggestion for money well spent.  

I’m curious to hear the feedback on this one myself. I have two guys who do all my work. They are better than anyone I can hire. I use them not because they are cheaper but because they do better work. But they are not licensed. But neither is the homeowner who does their own work. Some work needs permitting so that would be a different story but most rehab doesn’t need a permit which means a capable homeowner should be ok to do their own work. 

Not an expert on how to deny renters, but I've had to deliver bad news in business plenty of times. When you have bad news to deliver, deliver it with as little info as possible. 

"I'm sorry, we've elected to go with another applicant."

I wouldn't mention smoking, I wouldn't mention anything. If they respond with why, then the answer is we had another application that met our criteria. Any detail you offer is just a reason for them to open a dialogue. You've already decided, correctly I might add in my opinion, that you are not going to rent to them. You don't want a dialogue. You want them to understand there is nothing further to do here and to move on. The less you say, the clearer that message is and the less reason there is to come back to you again. 

 For this particular example, Greenville NC. The other properties are also in NC. 

@Ronald Rohde

Thank you for your feedback. I agree, the law is what matters. My point was my opposing side runs a now (with my old company as part of the numbers) a billion dollar company and he has all the current info whereas I have limited access to data.

I do have access to a commercial broker. He’s family and a friend. The problem is our properties are a bit too unique so they really don’t compare and he really doesn’t have good insight into my particular situation. Hence the roundabout way I’m getting where I’m going.

Again thank you for the insights.

Agree with Marcia. Be prepared to give good info to the insurance company rep. Pics, dates, details. Don’t embellish but tell everything you can think of. Tell them about their being bad tenants. Then let their lawyers do the work. 

We had someone get bitten by a cat that we’d literally had for hours. Came in while we were gone and of course went and saw the new adult cat. Cat, being stressed in a new place, bit her. It was bad. 

After the insurance investigation, no fault of ours. No way we were negligent. Our insurance company lawyer told them to go away and why, and she and her lawyer did. End of story. 

You could have a water leak internally. For instance, a toilet that is slowly leaking and refilling. I’ve pumped many septic tanks and had water flowing with nobody home. Quick search and “Oh, would you look at that. The toilet is leaking.” Neve would hav known otherwise. 

I agree with the previous posts. Check the meter current against old bills, cut off records from the company, etc. 

Also, seems like really bad luck that this leak started right when the tenant left. I’d really want to see the current meter reading and trace it back through all the previous bills to see that there isn’t a clerical issue. 

Lastly I have a friend this happened to on her own home. $50 month for years. Then suddenly a $1000 bill shows up. Utility didn’t care. Pay it or we play hardball. No negotiation. No forgiveness. Maybe they will listen, but unless you can document something wrong, I wouldn’t get my hopes up. In other words be prepared to pay the bill. They will structure the payment over time so cash flow isn’t hurt. 

You are legit then. Fly away! It is amazing how small and capable they make these things now.  

 Thank you Eric. I am indeed in NC, and the criminal violations were also occurring in NC. 

@Shawn M.

Annnd...that would be illegal. Unless the drone weighs less than .55 pounds.

If you use a drone above .55 lbs for commercial purposes you have to have a commercial drone license from the FAA under part 107. Thems the rules.

Now in reality nobody will probably ever know and it happens every day but I can tell you there is a LOT of angst over drones and their operations in the pilot world and people are looking for someone to make an example of.