All Forum Posts by: Jonn Vidal

https://montreal.ctvnews.ca/qu...

Last sentence is so true across the states in my limited experience in NY, VA, FL, CA, TX: Agents still generally IGNORE even those 70% cash offers, not even presenting them in the case of CA.. still can't understand why; guess they're not afraid of review by CA BRE?
When confronted (ie listing expired then asked next agent or owner why they didnt counter my cash offer, only to be told they werent even shown it), i'm told that 70%  cash offers are 'significantly below asking' AND often also that the 70% would be reduced by repairs -- which doesn't make sense since my offers are always as-in condition no contigencies!
Also am told cash doesnt mean anything anymore since can be hard money.. um no, har money is loans, not funds on deposit.  Sad agents and wholesalers generally/lately bend terminology so much to their favor.
Anyways Long Islands unless you're like in the Hamptons seems to have alot of inventory hanging/sitting getting cold/frozen; seems most all buyers are saying its cheaper to rent than finance; guess they'res not much actual cash buyers in NY unless Manhattan Forest Hills DManor or Hamptons?!

Short Term / Mo to Mo Property Insurance? 

Farmers seems to still offer it in CA and still call it Unoccupied Insurance.

NJ Woman Dies After Setting House on Fire When Landlord Tried to Evict Her | NBC New York - YouTube

That's alot of poor kitties for one house! Hopefully NJ et al will tighten tenant affairs well as animal control soon; hopefully it was just 30(?) cats being sheltered for winter not permanently housed there!

RIP6

Socialist Seattle?

in 2020 there were alot of applicants that were military docs applying for STR, not just traveling nurses (which surprised me cuz i thought since they were military they would be given their own quarters!).

so anyways what's the broader wording.. Corporate rentals? or what?  to basically offer STRs - even bnb - but only for persons on assignment as opposed to leisure?

Assuming no HOA, it seems the wording here implies owner-occupied is in contrast allowed without the 600ft thingy:

Louisville, Kentucky, approves new restrictions for short-term rentals (avalara.com)

Anyways, does your town still consider a single room rental in your owner-occupied house to one person a 'Short Term Rental'? 

(as far as i know here in state of CA most non-HOA residences owner-occupied are generally allowed to have one Lodger agreement with owner.. i may as well ask that in a sep Q tho)

· Effective August 28, 2018, California AB 2219 required residential landlords to accept rent payments through a third party, if the payor provides a signed acknowledgment stating that they are not currently a tenant of the premises and that acceptance of the rent payment does not create a new tenancy with the third party.

It amended Civil Code §1947.3.

Civil Code §1947.3(c) provides the following sample form acknowledgement:

I, [insert name of third party], state as follows:

I am not currently a tenant of the premises located at [insert address of premises].

I acknowledge that acceptance of the rent payment I am offering for the premises does not create a new tenancy.

(signature of third party) _____

(date)

Failure of the third party to sign the acknowledgment permits the landlord to refuse the payment from the third party. The acknowledgement may be required for each payment or the parties may agree that one acknowledgment may be sufficient when the third party makes more than one rent payment during a period of time.

Civil Code §1947.3(E) states “[n]othing in this paragraph shall be construed to require a landlord or landlord’s agent to enter into a contract in connection with a federal, state, or local housing assistance program…”. However, since January 1, 2020, SB 329 and SB 222 have required landlords to accept to accept Section 8 and VASH vouchers and other forms of rental assistance and to consider them as part of an applicant’s income (as protected sources of income under fair housing laws).

So what multiplier do you require for income:rent at your rentals and is the same across your entire portfolio?