All Forum Posts by: Kosh Vokter

The tenants renewed their rental agreement for 11 more months. before they renewed their lease, they guaranteed paying rents wouldn't be a problem. Per the agreement, rents are due 1st of the month, and are considered late after 5th with a late fee.

1. tenant said they transferred money to my bank account which i never received. after I followed up asking, they said they filed a complaint with their bank but didn't know why it could not be transferred to my bank account.

2. I offered to take rents through Zelle which they did not prefer because of fraud and other issues 

3. I offered to take rent through Venmo, which they said they will do when we talk on the phone but never ended up transferring. 

They wouldn't respond to e-mails, and all my calls many times would go straight to voicemail.  When offered to come pick-up the check, they said they prefer only online transactions. 

I offered to waive the late fee, and even offered to take rents in multiple payments. They said they can do installments and paid 1/5th of rent as 1st installment through Venmo. when asked why they didn't transfer the entire amount, they said they don't want their Venmo account locked up and will do in installments of 4-5 payments. It's almost 25th of the month, and they have only paid 1/5 of the rent, even after waiving late fee and agreeing to accepting in installments. I know I can do a 14-day notice, but the other side of me is that are a family with a young child and don't want them to go through stress. 

Is there any other option besides evicting them, that will get them to talking terms and have them pay rents. For e.g. could i propose converting their lease to month -to month and they can leave end of next month without fear of eviction or eviction record in their history? I don't know if this is even possible though. 

thank you all, i don't have anything specific in the lease about pest control which is a good reminder and note for the next time writing a lease. 

My tenants moved out and while cleaning there was evidence of pests in the property. we noticed rat droppings in the garage, around the house etc. the tenants had a dog and chickens, but never notified of rodent activity while occupying the property.  i had to call an exterminator and pay for that. 

Are the $ exterminator costs to clean out pests considered 'cleaning' and thus can be deducted/retained from the security deposit? 

Inspected a SF home in AL built 2009. There was a supply line leak in the garage before that has been addressed since. The inspector couldn't figure out the manufacturer of the PEX used and was concerned that it could  be Nibco Pex and recommended getting a plumber out. Looks like there has been an issue with NIBCO tubing and PEX before per NIBCO Tubing, Fittings, and Clamps Class Action Settlement - Class Action (classactionsettlementguide.com)

There is no active leak and there are other homes in the neighborhood built by the same builder and used Nibco Plex. Anyone know more about this issue with NIBCO tubing pex or dealt with such issues in the past? trying to decide if this is a deal-breaker or if it's worth spending more $ to get a plumber out before making a decision.

Need to apply for 2 conventional loans for 2 different investment properties that are in different states. It just so happened that the 2nd offer got accepted and have enough cash for 20% down-payment for both including some reserves. I have an existing contact and pre-approved with a national bank . I would like to apply and work with a local lender for the 2nd property and loan, to build a relationship with another lender besides the national bank and who my realtor also prefers working with (my realtor is not forcing me to work with the local lender though). I am not sure if the local lender can do simultaneous loans and this is my 1st loan with them. I have done loans with the national bank before but they might not have the best terms. 

Is it advisable to work with the same lender for both the loans?

Besides experience closing 2 loans at the same time, what are the things that you ask both the lenders upfront to help me decide if I should go with different lenders or chose the same lender for both?

I know I have to disclose both the contracts/loans with both the lenders (if I go with 2 different lenders), is it also necessary that I disclose that information with both the realtors? I know it won't affect the loan process, but is it required or courtesy to let them know. 

thanks @Lucas Miles

Thank you!

Evaluating an off-market property in AL. We took pictures / videos of the property and there is some mold on the drywall in the garage from a previous water heater leak. They have since replaced the water heater, but there is drywall pulled out and some mold on the drywall from the water leak. We know that this won't appraise as is but don't know the source & extent of water leak damage. We want to remove/demo some sheet rock near the water heater to look for the extent of damage and mold issue BEFORE we get an inspector out for inspection. Sellers don't have money (~$500) for removing the sheet rock, and they are okay for us to hire and pay for our own licensed contractor for that work. 

Current Strategy: We wanted to add an addendum to the contract so that we have this written down (i.e. buyers don't assume liability if there is a problem/ other damage while contractor removes sheet rock) with seller. Get the contractor come out to remove sheet rock and then hire and inspector to do a thorough inspection. 

Is this (Addendum in the contract) an acceptable risk or any other strategies that you recommend? The other option is to walk away and not go the contractor route, if this strategy is risky. 

Evaluating an off-market property in AL. We took pictures / videos of the property and there is some mold on the drywall in the garage from a previous water heater leak. They have since replaced the water heater, but there is drywall pulled out and some mold on the drywall from the water leak. We know that this won't appraise as is but don't know the source & extent of water leak damage. We want to remove/demo some sheet rock near the water heater to look for the extent of damage and mold issue BEFORE we get an inspector out for inspection. Sellers don't have money (~$500) for removing the sheet rock, and they are okay for us to hire and pay for our own licensed contractor for that work. 

Current Strategy: We wanted to add an addendum to the contract so that we have this written down (i.e. buyers don't assume liability if there is a problem/ other damage while contractor removes sheet rock) with seller. Get the contractor come out to remove sheet rock and then hire and inspector to do a thorough inspection. 

Is this (Addendum in the contract) an acceptable risk or any other strategies that you recommend? The other option is to walk away and not go the contractor route, if this strategy is risky. 

Tenant requested that they receive keys 5pm the day before the official lease start date. They wanted to move in and get a head start moving on Friday 5pm, since the actual lease start date is a Saturday. I would be open to it, but want to make sure there won't be any liability problems. The renters insurance would begin on the day of move-in i.e. Saturday, should I ask the renters insurance to take effect on Friday instead of Saturday? 

How do you normally get the 1st month rent on the day of move-in?  Can I ask the rent to be deposited in the bank account on Friday so that it's deposited before I give them the keys instead of getting a check from them?