All Forum Posts by: Mark David

Hello friends,

My original thought: I want to help and not gouge people.... like a regular bank does. Nice, eh?

My second thought: Sell as is in May for approximately , with a 25 year note. Minimal down payment to avoid huge capital gains taxes and allow 1650/mo in rental income for the first 5 years with a $200 month increase every 5 years which would allow them to pay it off up to 15 years sooner. And...maybe a 6.5% interest rate to grab more attention for this $309K valued home? Would love to chat by PHONE if anybody is willing to throw in some fantastic ideas! Much appreciated. In the meantime, playing around with the finance calculator for potential options that work well for the buyer and me. Win, Win.

Hello friends! As a renter, I have a few really important questions.....

1) Here in Los Angeles, if I paid a $2000 security deposit and my damages upon moving- out were more than $2000, can the landlord invoice me for the difference?

2) Does my landlord have to provide me details of the materials and labor (itemized) for the damages by law?

3) I signed a lease agreement that charged me an upfront pet charge (along with my security deposit) of $400 listed as a non refundable pet deposit. Is that really enforceable?

4) Can a landlord include miscellaneous stipulations in my rental agreement including: Tenant pays and is responsible for all incedentals up to $150? (ie: clogged drains, appliance repairs, etc) 

5) Can a property manager charge a "move-in" and "move-out" fee?  Apparently, this "fee" is charged to hang a padded blanket in the elevator to prevent potential damage from furniture, etc? Can I get out of such a ridiculous charge?

Thank you and stay safe!

Mark

Thanks for the input @Guifre Mora. Perhaps you can elaborate a bit? :) OR perhaps refer me to a specific location online that can provide a specific, step by step approach to moving forward on this? Thanks a million!

I have great tenants and they have asked twice to buy the house they are renting from me in TN. I surely don't need to hire an agent and pay all of those fees. Any specific step-by-step suggestions to make sure I do it right and with ease? 

It is not due to earthquakes..it is due to the constant contraction and expansion of the soil underneath many cities. It is very normal, but a nuisance. With this, it causes stucco to fall  off your house or sidewalks to crack..etc. 

I have a tenant in LA who has been there only about 7 years (although it looks like they've lived there for 20). I do what I can. I keep the rent $400 below market, too. The house is 60 years old. On top of that, the tenants don't take care of the place- the place is a total mess.
 

The house "shifts" with the ground and therefore, the paint peels, floors move and crack slightly, doors stick and other things that cannot be controlled. Because of the way they live, the entire house would need to be redone upon their move-out...but, unfortunately, they aren't planning on moving out. They are always wanting me to upgrade or fix everything while they are living there. For example: 1)they want me to dig out all the flooring in the kitchen and replace it. 2) They want me to dig out the old tub (because it is starting to chip) and replace it. 3) They want me to dig out the flooring and tile in the bathroom and replace it. 4) They want me to repaint the interior. On top of THAT, they want me to put them up in a hotel while I fix all of these things. As you can see, these are major projects that would take at least 3-4 weeks.  

1) What should I do? What would a PRO do in my situation?

2) Also, I am under the impression that as a landlord, I am not responsible for the normal critters (ants) that live on the property. Correct?

3) They've never complained til now, but am I required to install a deadbolt on every entrance to the house? 

Thank you in advance!

I have a small abandoned house in Kankakee, IL. Back taxes have accumulated on it and that amount is probably $5K.  I couldn't sell the place at auction for $10k either...and the city wasn't interested in a donation. Any suggestions on what to do with this property which I obtained thru a Tax Lien?

The perfect tenant for years...and then, WHAMMO...they turn on you like a pitbull. Your professional input would be appreciated.

1) The flooring in the kitchen is cracking. Instead of repairing the damage, I offered to replace the whole floor. The 4th burner on the stove broke. Instead of repairing the stove, I offered to replace it. The bathtub is now ugly and chipped. I offered to replace it AND redo the entire bathroom complete with tile and flooring.  

Are you ready for the kicker? I offered that instead of repairing all of these items, that I would UPGRADE and replace and remodel them. My suggestion was that I would be glad to do this during a time when they were on vacation so as to minimize the hassle and stress in their lives: They want me to put them up in a hotel for a few days, instead. (see full response below)

2) I get a call on Saturday night at 7:30pm. The toilet doesn't flush or re- fill properly. I offer to send a repairman on Monday and ask tenant to manually fill the tank so the toilet will flush until we fix the problem on Monday.  Toilet was repaired and is working on Monday night - 2 days later...total cost: $60. 

 Tenant now takes the opportunity to complain that everything in the house is broken and that the place is "uninhabitable". (this is the first I have heard). I ask her to email me a list, which arrives 3 days later...on Thursday. The "list" consists of broken screens, a leaky faucet and a broken kitchen faucet, cracked floor and ugly tub.  I summons the repairman and he is sent the following Monday to repair everything with the exception of flooring, ugly tub and stove burner . I might want to mention, that I had the repairman install a brand new toilet that day, as well.

Please let me know what I should do. 

ME: (to the tenant)

Bia,

I would prefer to replace the entire floor in the kitchen AND the stove burner (instead of repairing it).

As you can imagine, this is quite an undertaking. Do you and Brian plan on going on any vacations? If so, we could arrange to do all this while you are gone AND have the tub replaced as well. What are your thoughts?

Mark

TENANT Response to my suggestion of upgrade offer:

Subject: Adjusting September Rent

Because of the delay in having our toilet fixed, our rent next month should be $1265.
Toilet broke Saturday, July 29. It was replaced and fully functioning on Monday, August 7. That's a total of 9 days without a working toilet. I subtracted one day. So 8 x $55 ($1705/31 days) =$440. I think you'll agree it's reasonable. Please confirm so that we are on the same page.

As far as the other pending repairs (redoing kitchen floor because of cracks and bumps, replacing broken stovetop, replacing range hood fan, replacing bathroom tub), how would you like to arrange for hotel stay during those repairs?

Thanks for taking care of this.

Bia

Thanks Don.  I want to remind you (for clarification) that I do, in fact, OWN the property and it is in my name. 

Josh...like i mentioned earlier...thank you for your input, BUT you need to read the whole posting. :)