All Forum Posts by: Henley Smokey

Yes, Ty, that does help and we appreciate you taking the time to reply with your feedback and insights- Thanks so much!

Thanks for your reply! This was our position as well (not to mention, as we said previously, what our attorney said)... Thanks again-

We have a condo we're looking at leasing to a company for their employee. The company will sign the lease, with the employee listed as the tenant. Do we need a guarantor listed as well? The company's legal counsel has said a guarantor is not needed, citing the company's annual revenue and an employee, effectively, being unwilling to cut a check on behalf of their employer if it came to that. While I understand that, my understanding and what our own attorney has confirmed, is that there should be an individual who serves as the guarantor in this type of instance. Thoughts?

We have a condo we're looking at leasing to a company for their employee. The company will sign the lease, with the employee listed as the tenant. Do we need a guarantor listed as well? The company's legal counsel has said a guarantor is not needed, citing the company's annual revenue and an employee, effectively, being unwilling to cut a check on behalf of their employer. While I understand that, my understanding and what our own attorney has confirmed, is that there should be an individual who serves as the guarantor in this type of instance. Thoughts?

Haven't asked the HOA or their attorney as I didn't think they could advise on that-

We have a condo that includes an underground parking garage. Recently, it was determined the building where the underground parking garage is (which is separate from the condo building) had structural integrity issues and people were advised to vacate. Now, apparently after some improvements, the building with the parking garage has been deemed structurally sound and safe to occupy (based on an engineering report and formal subsequent notice from the HOA).

Since it's now been deemed safe, do you think it's still worth having future tenants sign a waiver and release just in case there is any incident within the parking structure, or, since it's been deemed safe, should we just not worry about it? Thanks!

@Dave Foster, Really appreciate your insights! Thanks so much-

Appreciate your insights- Thanks!

Hi there,

I have a property that's in an LLC and has been used as both a longterm rental as well as a primary residence (this includes 2 years total within the past 5). If I choose to sell it in it's current LLC status, am I still able to be exempt from capital gains up to $250k (I'm a single person and it's also a single member LLC)?

I also have depreciated the property during the period of time it's been rented. Will there be depreciation recapture even if it's been a primary residence for 2 of the past 5 years and the profit from sale is less than $250k?

Thanks!

Thanks! There isn't actually an HOA, it's just the people who are currently on the 'committee' to oversee the CC & R's, and, you're correct, it is the developers. It's the developers who have twice warned the neighbors they're in violation of the CC&R's, however, the issue persists. Any ideas for recourse or would it be to simply reach out to the developers yet again and notify them that the neighbors are still in violation?