All Forum Posts by: Jill Keller

Hello,

We bought a model home from a builder. They still had lots to sell so they have been leasing it from us and paying us rent. So we are the Landlord and builder is the Tenant. The lease term was as follows 'from date of Landlord's purchase and shall end at midnight on February 28, 2025, unless sooner terminated as provided in this section. The foregoing notwithstanding Tenant may terminate this Lease effective at any time after February 28, 2024 upon not less than sixty days prior written notice to Landlord."

They are moving out in October 2023 as they have sold the lots and gave us 60 days notice. From my understanding of the lease, they owe us rent until February 2024 even if they hand over the house in October 2023. Is that your understanding as well?

I have a call with them this afternoon so your prompt response will be greatly appreciated. :)

@Andrew Freed Deep down I knew this was the best route but I needed to hear it from someone. Thanks for helping put things into perspective. Hope everything works out well for you.

My tenant is not paying her last months rent. Her lease is set to expire in 2 weeks. I have sent and documented the 2 notices I sent her. She mostly avoids my calls/texts and then responds saying she will pay. She initiated the payment but it failed due to insufficient funds in her account - pretty sure this was an act to show she was paying to buy a few more days. She has since blocked my phone number so I can't reach her. Pretty sure she has no intention of paying. I do have her security deposit but I will have to pay some amount out of pocket because I'm pretty sure she's not going to clean the unit. I was wondering if there's anything I can do at this point or whether there's just a risk with this and I'm going to have to bear the loss? Is it worth it to pursue legal action? Is there anything I can do that is FREE but effective to get it on her record? Is it legal to contact her future property owner?

 I have not but that sounds like a great idea. I heard that gets tricky if you need to evict for any reason because you received rent for the last month. Also, i have it setup that they can break the lease but are responsible for rent until i find a new tenant. Would having last months rent be applied to the last month the tenant would be living there before the new tenant took over? I was reading the landlord/tenant laws and it seemed like Indiana did not have a maximum amount landlords could charge but maybe I'm missing something. I would love to just hold 2 months deposit if that was legal.

How much do people typically charge for a security deposit? Is 2 months reasonable? I live in Indiana. I used to typically do 1 month but I've had tenants try and not pay the last month so i want to cover my grounds incase there are any damages.

How does one find real estate meetups and events in the area? If anyone in the Indianapolis area knows of any upcoming meetups or events, please let me know. :) 

Our rental is in a good part of greater Indianapolis, but our current property manager took 2 months to find a tenant. Renting at market value of $1,000. Is this normal?

Also taking recommendations for a good property manager in the Indianapolis area. 

Thanks!

Hello,

I have a 3 properties under my personal name that I'm looking to move ownership to an LLC. Should I get 1 LLC per property or one LLC for all 3 properties? I know multiple LLCs would mean more complicated taxes but I'm trying to see what would be logically better from a legal standpoint or if it matters?

Also, does it matter if it is a single-member LLC or multiple (2 person) member LLC?

Thanks!

Hello,

I have a 3 properties under my personal name that I'm looking to move ownership to an LLC. Should I get 1 LLC per property or one LLC for all 3 properties? I know multiple LLCs would mean more complicated taxes but I'm trying to see what would be logically better from a legal standpoint or if it matters?

Also, does it matter if it is a single-member LLC or multiple (2 person) member LLC?

Thanks!