All Forum Posts by: Lella Bennett

Thank you all so much for the replies, your information is very helpful. The tenant has claimed that she tested positive for COVID-19, but I have no proof of that and no idea when she tested positive - could have been several months ago. As of right now, she's current on the rent payments, I just hope it will stay that way as that has been a problem in the past. I like the idea of doing a short extension on a month-to-month basis for another 2-3 months and then increasing the rent so she has some motivation to find alternative arrangements. Thanks again!

I have a tenant whose lease ended on July 31. They haven’t been the best tenants and I would prefer not to renew their lease for another year. When I informed my property management company that I would like to give them notice of non-renewal, their legal counsel advised me that any notice to vacate is in violation of Gov. Ducey’s eviction protection order. With the original protection order set to expire at the end of July, I figured I could wait a month until it expired and then give them notice. Now that the protection order has been extended to the end of October, I’d really like to turn the apartment over to new tenants if possible. Has anyone else received similar legal advice? Does the eviction protection order apply to ANY notice to vacate, even at the end of a lease? 

Thanks @Doug McVinua , I have reached out to Empire West to get additional clarification. They've not been very helpful in this process so far, so we'll see if I can get a response. Really appreciate your input. I will post back an update on what I find out in case it may be helpful to others.

In reading through the policy documents provided by Stewart Title, it appears that the ALTA Homeowners policy we purchased:

"This policy covers only Land that is an improved residential lot on which there is located a one-to-four family residence and only when each insured named in Schedule A is a Natural Person"

So....looks like I bought the wrong type of policy? Yikes! Can I cancel this policy and buy another that lists the LLC as the insured?

@Doug McVinua , Thank you so much for verifying this. I reached out to Empire West Title Agency that sold us our policy and they responded that "Per my Title Department, The title of policy that you received at Close of Escrow, Homeowners Alta Policy, doesn't allow for Endorsements when deeding into LLC's".

Does this sound right? Not sure if this is a limitation from the issuer, in this case, Stewart Title Guaranty Company or if Empire just doesn't want to do this for me. 

Thanks, 

Lella

Hello,

My husband and I purchased 3 four-plex multifamily buildings in Mesa, AZ last year. All of the properties were purchased in both our names as Community Property with ROS. After completion of the sale, we transferred title to all three properties into an AZ Limited Liability Corp (LLC) using a General Warranty Deed. When we purchased the properties, we also purchased an ALTA Homeowners policy of title insurance.

Since my husband and I are the only members of the LLC, do we need to get an endorsement for the LLC on the title insurance policy or are we already covered by the policy as there has been no change in parties holding interest in the property?

Thank you!

-Lella

Hello,

I'm under contract on a multi-family property in Mesa and need to get my insurance lined up. Does anyone have any recommendations on local agents in the area that has experience working with multi-family investors? 

Thank you!

Lella