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All Forum Posts by: Josh D.

Josh D. has started 4 posts and replied 19 times.

Post: Tree fell on my rental need to sue

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

Yes i turned into insurance they won’t fix it. So I’m trying to find the owner to fix 

Post: Tree fell on my rental need to sue

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

Hi

The neighbor rental is next to my rental. A large limb fell and busted my roof. I cannot find the owner as the address tax records are in an llc with no contact info and the office address on the data doesn’t exists.  What should i do? Can i place a lien on their property or what do i do without no way to find the landlord ?

Post: Ending a lease with large balance due

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4
Originally posted by @Kyle J.:

@Josh D.  I don't know why you'd write a "lease termination letter".  If your tenant is going to break the lease, that's her choice and you can't stop her.  But she's going to owe you for any damages and unpaid rent until you get it re-rented.  (And yes, you can deduct all that from her security deposit.)  I personally wouldn't write her a letter terminating her lease.  

 @Kyle J

But, what if she doesn't move out on the 1st? I guess my option then is a 3day pay or quit? Sorry, I've not ever ran into these issues, my other tenants are great.

Post: Ending a lease with large balance due

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4
Originally posted by @Andrew B.:

If there are damages, not including wear and tear, your first line of recourse is the security deposit. Anything after that, you send them a bill and follow up through small claims.

You cannot just decide, "I will bill you the full lease if you don't leave it in good condition." There are other avenues to recover a broken lease, completely separate from this discussion.

Now, as part of the lease break process you could both sign an agreement stating the above, but you are now giving up your ability to sue for lost rent. The tenant is already on the hook for damages, so you gain nothing by signing the agreement. 

Andrew, I don't believe there are any damages outside of normal wear and tear, But I do believe there is smoke damage from smoking in the non-smoking property. And I've been told by neighbors of suspected drug use. So, I'm speculating that there may be damages.


Can I not include in the lease termination that 1) the security deposit is forfeited to help recover lost rents (because she's not been paying) 2) If the property is returned in normal condition i'll forgive the lease balance and if not I will pursue the balance?

I am willing to offer forgiveness of the lease balance to get her out so I can get a paying tenant in, without going through eviction, etc. But if there are damages Im saying I will pursue the balance of the lease to cover those damages if they exist..

Please advise?

Post: Ending a lease with large balance due

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

So, my tenant quit her job (not lost) and is now unable to pay rent. She has said she will move out by Oct 1st. There are several more months left in her lease. I am ok with letting her move out, but if there are damages, such as smoking, holes in walls, etc, can I write in the lease termination letter that if the house isn't vacated in the move-in condition that the balance of the lease would be due and pursued to the fullest of the law? And if the house is in good condition I would forgive the lease balance due? OR am I just limited to the deposit for this?

Post: LLC 1065 quick tax question

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

@Ashish Acharya

Thanks. I was talking about federal, but now you got me wondering about Arkansas filing now. So would you recommend I use TurboTax business to file the 1065 and issue the K1? Is that software capable of meeting that need? Then I would use another version to file our regular taxes?

I also use Quickbooks Pro 2019, but I don’t think you can issue the 1065/K1 from that?

Thanks for your help!

Post: LLC 1065 quick tax question

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

As a husband and wife with a partnership llc disregarded entity we are co owners and have 5 rentals that were acquired last year (2019). Do I need to file 1065 and issue each of us a K1 since we’re married? If so why, if not why? This whole tax situation is got my head spinning and sort of wish we had not done the llc... Thanks

Post: Help, Inhereted tenants issue need advice

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

@Jermell Shavers well another main reason i want to avoid sending her out as well is because the house needs some work that i don’t have time to do right now before moving anyone else in.

The boyfriend has moved out on his own. So this is great news. For now problem is solved. I’ll get her in a lease and hopefully avoid the issue ongoing. Thanks everyone.

Post: Help, Inhereted tenants issue need advice

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

@Rob B. Thanks for the advice!!

Post: Help, Inhereted tenants issue need advice

Josh D.Posted
  • Rental Property Investor
  • Arkansas
  • Posts 20
  • Votes 4

@Cory Cox thanks man I actually have a 24 hour limit on my leases for guests per 30 days.