All Forum Posts by: James Wilcox

Where do you put the taxes into the BP rental calculator? I put it under expenses other broken into monthly payments for the annual amount. Is there a field I am missing?

since you are out of Louisville I would look into Park Community Credit Union since they are the biggest credit union out of that area. I like CU over banks. I think they have a first time home buyer program and since you have good credit probably you get in. Food for thought some straight Mortage firms maybe an option as well @Samuel Ault

@Stephanie Cederdahl welcome to the community! If you think you want to have some third party opinions on a property you are looking at the Real Estate Deal Analysis and Advice category is a great place to post it. GL and best of luck from an investor in Lexington, KY.

http://www.biggerpockets.com/forums/88-real-estate...

It seems there is some confusion on what I was trying to ask. That is my fault. I should have waited till morning and posted more information. I was really looking on what to do with the truck if they do not return for it by May 1 (doubtful it will be much longer before they get it). I don't plan on touching it till then just to be safe.

All utilities were turned off April 20, 2015.

However, according to my lease my tenants have broken the lease. Just because tenants pay rent does not mean they are exempt from breaking lease. It is an agreement that the tenants will live in the property for the determined time of rent (usually one year), pay rent on time, and not break outlined rules. By vacating the property they have broken their lease and I have full right to repose the property with no notice (they are just pro rated to the date of termination).  They are Below are the exact and more pertinent clauses in my lease to refers to this instance:

"If tenant ceases to occupy, and or removes the majority or all of the tenants possessions, and or the utilities are disconnected, the unit shall be considered vacated and the landlord has full right of entry and my take possession of said property with no notice to the tenant." @Shawn Thom

This is what @Dooreuhn Cee is referring to as well.

"If utilities are disconnected or are not utilized by the tenant, such as water, sewer, electric, gas. The landlord has the right of immediate entry with no notice to the tenant.  The landlord my take any reasonable action he deems necessary to protect the property from damage such as but not limited to turning on utilities, removing any routing or damaged item, ect... Tenant shall be liable for any expenses incurred by landlord to correct the situation including any utility bills"

@Mindy Jensen legal counsel seems a bit much in this case IMO. However, I will consider it. I have a mentor that lives in this city that has been doing this for a very long time and they are helping me track down my tenants to see if they will give up the keys without an issue. 

I doubt I will have too much trouble getting keys but we will see. I do wish they would have come talked to be about it before just leaving. I am sure we would could have worked something out. That would have been a better option for all parties involved. I even brought them cookies that day -.- More for me I guess.

@Marcia Maynard

Yes the property is in Kentucky. I will do my best to keep up with this thread as it develops. Makes for a good case study.

@Account Closed if you do not have an abandoned property clause in your lease or rental agreement I would advise getting one. Would not want to see anyone get burned by not having one.

I have been trying to call and text them the past two weeks with no response that is one reason I went to the property today to see what was wrong. I will post notice and going into property tomorrow for the maintenance check I was going to do today. I was told today at an REI meeting that I can take repossession of property if it looks abandoned like in lease. in small claims court I have seen where you need to show that you are actively trying to work toward new renters when the property because abandoned.

@Mindy Jensen they broke the lease because in my lease they need to give a thirty day notice if they plan on moving which they never did. I am sure the truck issue will revolve itself because it is a diesel and is probably too valuable to leave behind. However they may plan on having the truck reposed or something like that because the plate was removed and that is a second vehicle. I don't plan on doing anything with the truck till next month. 

I have phone numbers but no response. I have someone going by the mans place of work tomorrow to try to find out more info and get keys back. I can go back into the property because if it looks abandoned I take back the property also in lease. I will confirm utilities are back in my name tomorrow but I would wager good money they are. 

I am documenting best I can. I don't think I need an eviction if they are already out correct?

I have a rental property a few cities over from where I live. I have been trying to get ahold of my current tenants for almost two weeks to do a scheduled smoke detector/maintenance check on the property. I went over today unannounced and found the property abandoned, but cleaned from what I could tell. I did not have a key with me but could see into the kitchen and lots of cleaning trash in the cans. I talked to the neighbors and found out they had talked/seen them move out a few weeks ago and have not noticed them back to the property since. They paid April's rent on time so something happened shortly after. They left a cab and chassis diesel truck in the driveway though. What do I do from here? I plan on going into the property and getting it rent ready this weekend but where should I go legally from here? They did break the lease and what should I do about the truck? I assume they can leave it there till the end of April because they are paid till then. 

Conveniently can now check out the new podcast. well played @Brandon Turner. Well played. Lol

Sounds like you got a good plan going @Greg Gibbons. 

Thx BP community. I do see the reasoning behind it. Never purchased a property with tenants in it before so just wasn't sure of the procedure. @Joe Villeneuve thx for the help. I thought 3 days was a little short and I will see if they would up extend the inspection period a few more days.