All Forum Posts by: Goran Kocev

My tenant is complaining about cat urine small coming for other apartment that they share wall with . Not sure if that is possible but if it is what can be done about it from landlord prospective .

First really want to help the tenant ,

Second should landlord be responsible for something like that in the lease we have that we are not responsible for pest after the first month but this coming from outside .

@Ned J. Mine spells out as well . The reduction will be around 30% . The unknown for me is even if I go to court and win will I see any money from that or will it be waste of time .

So there is this tenant everything was ok till now but lease expires end of this month they have not pay rent for this month and insist the deposit is used for that , the problem is the deposit is there for security when they move out and they still have to pay for this month and get refund on the deposit when they move out minus bills and damages .

First time handling this kind of situations , any experience sharing would help

I have 2 rental property that I bought in cash , but now I want to expand and don't have enough cash on hand so I'm thinking about feting a HELOC . From what I can see the big banks don't have good terms and I want your recommendation where u got HELOc recently from white institution if possible , how do you find them working with , what interest rate and pros and cons

@Erik W. I Already have LLC for the Property but it seems like i cannot use the same one for Property Managment .

The reason behind is not to hide my identity as i will deal with the tenants anyway ,  The reason is if there is any unreasonable  request or something i need to think about   I can easily say let me check with my Partner and use that as leverage .

Thank you @Patricia Steiner learned something new that cannot use the same LLC both for having the renal property under it and use as Property management LLC , that is wrong assumption i made

New landlord here

A little confused as far as where to put the deposit money from tenant , it seems that I cannot just put it to the business checking account it need to be some account that earns interest . What find of account t can fit this need that does not charge maintenance fee and it does not put the money at risk .

So if you are the owner of property and also manage it and the property is in your name is there any way that you put the LLC so in the eyes of the tenant you are the property manager but they don't have to know you are the owner .

If I have a rental property and 1031 exchange it to by primary home then :

1 is that possible

2 if I leave in this home for 2 years and sell it am I paying capital gain taxes .

TIA