All Forum Posts by: Laticia Braxton

Congratulations @Nina Granberry!!

It’s my pleasure to help Lawrence!

 Yes, it’s www.militarybyowner.com.

Understood and sure thing! Send me a PM whenever you’re ready and we can schedule a call.  

Hi Amy,

The answer to your question will really depend upon your bottom line and how much time and energy you have on a daily basis.  If you don't have a demanding  FT job, I would suggest that you manage yourself because it is definitely doable, especially with one unit, but it can be time consuming.  Feel free to reach out if you want to discuss further.   

Best of luck to you!

Laticia

Good morning Anthony,

I totally agree with everything @Michael Garofalo said.  I hire commercial contractors daily and you should be getting multiple bids. Additionally, you may be presented with a few different scopes of work for the job, and some may be less expensive.  I am on the East Coast, but I have worked with C.A. Lindman Inc. for stucco repairs and removal for 15+ years.  Although I don't believe they have offices on the West Coast, Google their name and call them and ask for a few referral companies near you.  Hopefully, they can help.  

When you get your bids, pay close attention to each scope to ensure you have apples-to-apples bids, the payment terms and it is also very important to note the warranty information.  Make sure you actually contact their referrals and tell them about your job.  Ask if they have performed the same type of job you have, if they completed the job on time and without major complications and without multiple change orders and ask if they would hire them again.  I am happy to help if you need additional assistance.

Best of luck to you!

Laticia

Firstly, you should realize that you do have control of the situation, you just need to let the tenant know that ASAP.

We all know that moving can be stressful, but it does not release an adult from their responsibility to comply to the lease terms they agreed upon.  Send him a formal notice, citing the clause in the lease that requires the insurance policy.  I would give him (15) days maximum to get an active policy and you don't need to be that generous, but you sound like a very reasonable person.   Word your letter in such as way that he realizes that you are providing a courtesy, when you could actually demand the policy right away.  If he is a decent person as well, he will appreciate the extra time granted.  If he still does not provide it after the (15) days, immediately send another notice letting him know he is in default of the lease and facing lease termination (if your lease allows such).

Moving forward, always require proof of insurance at lease signing and/or key-pick-up.  The same goes for utilities if not included in your rent. Mention that to them when you notify them of approval, so they are prepared.  Also, add a sentence that states insurance must remain in effect throughout the lease term and require that proof of policy renewal be sent to you at each renewal.

You can most certainly be cordial, but never be less than firm because snarky and non-compliant tenants should always know who is in control :-)

Best of luck to you!

Laticia

Hello Ajay,

A water test is exactly what you should do.  All of my commercial roofers do that by using a hose on the roof for several hours.  I am not sure if you need a full 8 hours, but the roof should be completely saturated before you check the spaces for signs of leaks.  I don't see any pictures, but the puddles may not be a major concern, although I'm sure it's not what you want to see on a brand new roof. Your roofing installer should be able to explain to you why you have ponding in those areas.

Best of luck to you!

Laticia

It sounds like you're learning a valuable lesson about what your existing lease is missing and what your new lease should include.  Take heed to all of the advice you've been given here, send the notice, follow through and evict them if necessary.  

They are trashing your property which makes you look bad as the owner and landlord.  I'm sure they are also creating a nuisance for the surrounding home owners and/or tenants in the neighborhood.  They are violating the lease and because you are allowing it to happen without repercussions, they will continue to disregard you and the lease.  Your tenant is taking advantage of the situation and you need to realize that.  If you don't put your foot down now, you will regret it later.  If you don't have the personality to handle these types of situations, you should hire a property manager to handle them for you. 

Best of luck to you,

Laticia

I think it would be best for you to offer a MTM lease.  You would then be able to get him out faster if necessary.  Since it will be a new lease, you can require him to pay a security deposit equal to one month's rent and you should require him to pay it at lease signing.  NO exceptions and NO payment arrangements. After all, he should be sitting on quite a bit of cash since he totally screwed his previous landlord.

Try not to be controlled by the fear of vacancy. It's a normal obstacle when you invest in real estate, no matter which type of investment you have.  I know that's easer said than done, but you must realize that in your case, vacancy is an opportunity for a much better tenant.  He's already been living there for free, so what do you really have to lose if he's gone?  Put a clause in the MTM lease that allows you to market the unit and show the unit (with advanced notice to the tenant) and market it as soon as he misses a payment!  Hopefully, it is in good condition. 

It sounds like you are a bit overwhelmed, so just take a deep breath and know that this too shall pass and once it does, you will have gained valuable experience as a landlord. Feel free to reach out if you have any other questions.  I'm always happy to help.

Best of luck to you!

Laticia