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All Forum Posts by: Edward L lauckern

Edward L lauckern has started 3 posts and replied 94 times.

Originally posted by @Ralph R.:

@Edward L lauckern. I manage about 60 tenants a month. Been doing it for years. Experience tells me it doesn’t happen very often. If she is risking 2 months or more of rent (a couple thousand dollars maybe?? We don’t know how much?) plus the cost of a flip. In my book the risk isn’t worth the gain. In fact I don’t see a gain with this guy. He will try it again I promise. Possibly another tenant won’t. Land lording is a tough business. It takes a tough tough attitude to succeed. After the second or third time most landlords learn that or give it up. RR

True but what if court doesnt go the way you want it to? Maybe they give this guys a few extra.months on top of the couple months it takes to get to court? my opinion is a basic settlement tactic that in the best case can save your income steam until the end of the lease (then maybe get rid of him) in the worst case you're out an extra months pay on top of eviction costs etc that you're going to have to pay anyway.

  Her question was how to save her credibility and I'm simply giving her a possible way not that could work, not full proof by any means.  If he doesnt pay a few days after you have a conversation with him then boom evict him through court 

Originally posted by @Ralph R.:

@Edward L lauckern. Absolutely not. The OP owes no explanation to this guy whatsoever he’s late with his rent. If she owes him anything it’s an eviction notice. Here it’s 2 months lost rent after the notice to flip a unit. She’s already lost 1/2 a month. It will cost her 3 months rent plus repairs to get her next full rent check. Why does she owe him an explanation?? RR

She might not, but it's a chance that this guy might come to his senses. Sometimes it's better to work things out rather than evict. In my.opinion inshoukd rather see if there's a chance to mend the situation rather than spend money in court. This guy took advantage because he saw an opportunity, if he sees that he was mistaken and his tactic isnt going to work he might straighten himself out.. might and might not .. in my opinion it's worth it to see if it can be corrected

What does the lease say about renters insurance? Does the municipality require a CofO  if so request to see an updated co

Unfortunately most leases have a renters insurance clause which the landlord will not be responsible for losses to the tenants property.   

If I were the landlord however and I caused this issue I would reimburse my tenant for reasonable damages  and then go after the company who did the work

Be blunt to the point, professional as you can with this guy. Explain you gave him an opportunity to work with you and he frauded you. You feel as if you been had, you hired him as a service which he did unsatisfactory, in business we make.mistakes and move forward .. 

Explain to him now moving forward no longer working together and you as a tenant. . Your rent is late and it will not be tolerated!

You can say .. I'm getting the pattern of late rent on a regular basis, offer to let him break the lease to find something less expensive, and give his security deposit back as long as the place is tenant able.. end it with something like unfortunate if rent is late as a business I will be forced.to seek the legal remedies. 

The point is you have to let him think you dont care, its pay rent and stay or dont pay rent and leave or get evicted .. no inbetween and you are not going to wait to see next month.. he took advantage. One thing I learned is to nip issues in the butt asap. Be clear and to the point .. explain in detail your expectations so there is no confusion,  every thing is on paper, under promise over deliver . If this guy doesnt pay next.month move forward with notice to pay or quit  .  Send a message to your other tenants in doing so

Offer and addendum to the contract see how that works.. if not I would do my research, hopefully this new tenant doesnt know the seller prior to the sale. In the addendum I would put that if the tenant isnt out by a certain date the deposit or a percentage is refunded, might be worth it to pay a couple hundred extra do get him to sign the addendum, up to you.

offer an addendum to delay until eviction is completed and another walk through is complete by you. If not walk .. how much would you be losing in deposit?.. 

Post: Duplex purchase YES or NO?

Edward L lauckernPosted
  • Auburn NY
  • Posts 97
  • Votes 56

What are cap rates in your area compared to the class of the neighborhood.. I would make sure that it is comparable 

I wouldnt delay It too long, if it's that bad and you know of mold the epa or hud can come after you and fine you. I would take action asap and get a tenant who pays on time. If you give an inch people will take a mile. And throw the condition of the property in your face the second you ask for rent on time or they may even try to skip a month and test you.. 

I can help

Try allowing a small pet