All Forum Posts by: Kenny M.

They actually did this destruction over the past 45 days.  I was there with pictures and a video in January; it didn't look like this.  I was just unclear of the updated CT laws.  A PM is not necessary.  I have 12 homes I manage; haven't had an issue like this since 2019.

I have a multi-family in Ridgefield, CT.  I refused to renew the lease for one tenant which they've been there for 4 years.  They left yesterday, and the place is in shambles.  It wasn't in this condition when I checked it a few months ago.

1) holes in walls and bad patch job

2) They super-glued a faucet knob which now doesn't work

4) They bent a towel rod

5) They dented the stove vent hood (needs to be replaced)

6) They stained the butcher block and it cannot be repaired. The stain is so deep, it has to be replaced.

7) The wood floors are scratched, so we're renting a sander to attempt to sand and poly

8) All the closet doors have holes like they were kicked or punched

9) All the baseboard heaters are bent

10) There's two cracks in the bathroom counter.  It needs to be replaced

11) A lot of wall patching

12) They cracked or broke the glass ceiling fan light bulb cover

13) Installed shower rod is rusted and has to be replaced

14) The place is filthy

15) They took with them both the ring cameras and ring doorbell (not theirs)

I have the before pictures from 2021 and it looks like a hurricane came through.  I have documented everything and I have 15 days to mail them the proof.  I am mailing them a breakdown of the costs for repairs and supplies along with receipts from Home Depot.  I have 3.5k in security (plus some interest.  We're looking between 7k-10k to make the unit rent ready again.  Should I mention in the letter that we will forgive the balance owed?  Doubtful they have the funds to pay.

I'd rather not upload the pictures so they are not on the Interweb.

 When we had to re-do the roof, he refused access, so we we had to go through our 1st floor tenant's apartment in order to get to the top of our roof. He gated his whole property, so there is no way to access the back of the building without going through the 1st floor tenant or his property. Since this is the side of the building, it's entirely on his property, so there's no way around him. He owns the entire block except our building. It was so difficult to do the rehab, after we were done, I even offered to sell him the building, he said no thank you. He's just a miserable power hungry man.

We have a 3 family brick property which needs to be re-pointed on one side. However, my neighbor has not been allowing me access on his property in order to do so. There's no way to re-point the bricks without being on his property for a few days. Has anyone on had issues like this before? If so, how did you resolve it without having lawyers involved in getting the appropriate permission so we can fix the bricks? The owner is a big shot in the city, and he's not a very nice guy. So, it's something we need to do, but he's not going to make this easy.

I was talking to someone and she said if a company receives any EIDL loan they cannot purchase any fixed assets during the time you have the loan outstanding. Should this be true, what happens to people who have the loan and are also in real estate? Does this mean a person or a business can no longer purchase buildings with other funds? Very confusing.

Thank you for your reply!  Three boilers and three furnaces already on natural gas.  The original plan was to not renew the leases, but then COVID-19 happened, so we turned them over to month to month.  One tenant lost one of their jobs, but they would consider revisiting the utility issue once things get back to normal.  The other tenant didn't reply, so I assume they may have to be evicted one way or another.  We do want to replace the old furnaces and boilers with new ones, and that was the original plan.  The tenants were supposed to move out as we were not renewing their leases and then we'd turn over the units with all new layouts and upgrades.  Since there is a moratorium on evictions for at least another 60 days, it was better to get something instead of nothing, so we kept them on a month to month lease.  So, in the meantime, we're trying to figure out how to make this house more efficient.  Not the easiest thing in the world when tenants are still there.  One of the tenants doesn't speak any English, and her daughter has been the intermediary.  She's been less than helpful, so that's why I feel eventually they will be thrown out.  Usually, when I reach out to her case worker, she then replies as they do not want to lose their eligibility.  

We purchased a 3 unit home that was built in the early 1900's.  Two units are section 8 from the Feds and one is free market.  The families have been there forever... At least 12 - 20 years.  The previous owners had a horrid prop. management company, a Real Property Management affiliate, and there was basically no work done to maintain the home.  The home is not to our standards and is borderline unsafe, so we've been slowly fixing the items we're allowed to fix.  The furnaces are 40+ years old and the boilers are from the 80s. Since we are paying the heat, we need to find a way to  lower the heating bills.  The monthly bills are 200+ a month in the winter per 2 bedroom apt.  We were thinking of installing an ecobee so we can monitor the usage, but I was just told that the entire building has radiators.  How do we convert the radiators to something that is more efficient while the tenants are still living in the units?  

We just completed a building which was a total rehab at the beginning of March. No one is renting now due to the crisis, but the building was appraised at around 1.5m; which we own free and clear. We are a bit concerned about the pandemic and shoring up funds. We have reserve funds, but if we do not have rents coming in, we are going to have to tap those reserves.  Our bank is offering us a mortgage 75/25 at around 3.8% for ten years then balloons. The partners are mulling it over, but we really didn't want to mortgage the property when there are no rents yet. Granted, we'd just place the funds in the bank account for safe keeping; and to shore up reserves.

What do you guys think?

 We are already in direct contact with tenants and accept all rents. We've already started looking and interviewing other candidates to take over prop. management for our props in upstate NY. We're just concerned about the status with the construction project and the few buildings we already have under contract to sell with them. They already the realtors and it's too late to cancel; nor do we want to cancel the sales.

They do not have a website and are not listed online. There is no state licensing board that I know of in New York that regulates property managers. I tried again to call at 9:30am today, got his and his wife's voicemail and then texted asking either one of them to call me or one of my partners. Nothing yet. They also have three of our buildings under contract for sale. So, it's a really dicey situation.