All Forum Posts by: James Farrel

Thanks all!

Tenant gave proper notice October 20 to end month to month lease November 30 and paid the rent due through the end of the lease.   Tenant stated I could advertise the unit as available to rent November 15 with understanding that any rent paid past the date of a new tenant's lease start date prior to December 1 would be credited back.   Tenant did not begin moving out until November 15  and new tenant lease will not start until December 1 since the tenant never gave me an updated, firm move out date, and I did not want to take any chances.   As of today November  24, tenant has removed everything except a few dumbbell weights which she told me by phone a week ago that she still wants.  Tenant has not been in unit for at least five days and has not returned messages to schedule move out inspection and to arrange to return keys and pick up the weights.

If I do not hear from the tenant before December 1, can I change the locks and let the new tenant move in?   Can I store the weights in case she returns for them?  Alternatively, do I have to file for eviction due to her being a holdover tenant?

What about the property management fee?  For 25 years, all of the owners (apartment and townhouse) have paid an equal share of the property management fee.  If not specified in the governing docs., would it be unusual to begin making the apartment owners pay more than the towehouse owners if the management company spends more time dealing with apartment building issues/contracts.

I own some units in a condominium that includes both apartments in a mid-rise tower and 3 story townhouses.   Assuming an equal  number of apartments and townhouses, would an insurance company typically charge more for insuring the townhouses, apartments or neither under a master policy?    Further information:  the townhouses are approximately twice the square footage of the apartments.   Also, the apartments have a sprinkler system and their building is all brick while the townhouses have a wood frame construction.  Also, the apartments have a small gym and conference room for the exclusive use of the apartment residents.

Thanks all!

Is it permissible to deduct loss of rent from a security deposit due to a unit not being available to rent again pending repairs due damage that was chargeable to the tenant if I could not reasonably complete those repairs while the tenant was still in the unit due to clutter?  (ex. painting, damages I could not see in drywall etc.)

I use David Stiffler. Sorry for the very late response.

Dave Toelkes Investor from Pawleys Island, South Carolina

Dave, does that include pre-settlement expenses such as inspections and appraisals?    If the mileage to the settlement was  worth claiming, where would that be included on Sch. E or is it not deductible?   Thank you

I file Schedule E and purchased a property last year.   How do I treat the following vehicle mileage accrued before the unit became "available for rent."   Does some of it get added as additional basis in property?  Is any non-deductible? Can any of it be immediately expensed?

1) Mileage to property for viewing and inspection prior to purchase.

2) Out of town mileage to Property Settlement.

3) Mileage to unit and home improvement stores repairing unit after closing.

4) Showing unit to prospective tenants after closing but before it was available to rent due to pending repairs.

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