All Forum Posts by: Martin Kimmel

I own only one rental property in Missouri but plan to add a second this year. I used to live in MO and when I bought this rental property, I first established an LLC there and bought it under the LLC.

I recently moved across the state line to Kansas. Do I need to refile the LLC somehow? Does anyone have experience doing this or tips on how I can go about this - or if it's even necessary at all?

Thanks.

Thanks. I did check credit which was fair but not great. I also verified employment. I didn't call his landlord reference he gave but his background check came clear with no prior evictions. 

totally agree on guaranteed forms of payment. Typically a cashiers check.

Please help! I verbally offered my place to a prospective tenant under then understanding that security deposit is due at time of lease signing. We were planning to meet today to sign but now he's asking if I wait to a few days to cash his check.  He later said he could make it work if necessary but would really appreciate a few days to get the money together. 

This makes me want to pull out because he can't come up with the deposit. This is a sign he's going to struggle to come up with rent every month. Can I, or should I pull out? What would you do? Are there any potential legal issues I need to worry about? Nobody has signed anything but he did technically agree to my verbal terms because he ultimately said he could "make the deposit today work if necessary". 

thanks in advance for your advice!

Hello. I have tenants that have been terrific so far but I was just informed that they are breaking up and that she will be moving out but he wants to stay. Their lease doesn't expire until Aug 31st but their preference is to get her name off the lease now and to start a new lease in only his name starting May 1st. I have no problem drawing up a new lease in his name only but is there anything else I need to do to show legally that the old lease has been terminated or will the new one automatically supersede the old one? Thanks everyone!

Thanks Tracy. Great point about specifying the pets. There isn't really space in the lease template I have to add a paragraph in the RENT section but under the RIDERS section I have stated that there is a pet addendum. In this addendum I've included the pet rent and the additional deposit amount as well as info on the pet breeds, weights, names, etc. So do you think this addendum covers me for the pet rent and deposit and in the RENT section I should just list rent as $1400 and in the SECURITY DEPOSIT section I should just list the 1 months rent only without the additional pet deposit?  

I am a new landlord about to have my first lease signed. I'm wondering about listing rent in my lease agreement. We have agreed on $1400 plus $20 x 2 for their two pets so $1440 total. In the agreement do I state that amount or do I state $1400 and have the additional fees covered under the attached pet addendum? I'm no lawyer but to me it reads that I should state $1440 in the actual lease because it says "Rent and additional fees are collectively referred to as "RENT"." 

What happens if the tenant get's rid of a pet for whatever reason? Do we need to sign some sort of amendment to the lease where I state the lease is being reduced by $20?

Any other advice for a new landlord going though the lease process for the first time as a lessor?

Thanks,

Marty