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All Forum Posts by: Mike Biewer

Mike Biewer has started 1 posts and replied 9 times.

Post: Portland (Oregon) ADU taxes

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

@Derrick Aragon

Sweet. I'd be interested in talking more. I'm real interested in seeing the project you are in the middle of. Any chance I could stop by?

Mike

Post: Portland (Oregon) ADU taxes

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

@Derrick Aragon Copy. I'm looking to convert a 450 sq ft garage on my property to an ADU, but haven't gotten deep into the financials yet. It's pretty great because the house is on a corner lot with the garage facade facing a totally different street. When we purchased we brought out an ADU planner, to make sure it was doable, but haven't gone much further. I'm about to engage and architect, but, as you can see in this thread, I'm wondering what will happen to my taxes once I refinance after building it. Plus, the garage is right on the property line, so I'm not sure if that's legit or not. Lots to look into yet.

Post: Portland (Oregon) ADU taxes

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

@Derrick Aragon Good advice. What do you mean by clients?

Post: Portland Oregon Winter 2017 Meet Up

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

Ditto. I'll be there.

Post: Portland Oregon Fall 2016 Meet Up

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

Is there another one of these in the works for 2017?

Post: Portland (Oregon) ADU taxes

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

I would be curious too. I know the city is waiving $10k+ worth of fees right now to encourage infill, but I haven't heard anything one way or another about the taxes over time. And what's the difference if you are converting a garage into an ADU versus breaking new ground? If anyone has experience with that, I'd be curious to know. If not, can always call the city.

Post: Early Termination of Fixed Term Tenancy: Portland, OR

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

Ok. So my understanding of the lease then is that I can only charge a termination fee of a month and a half's rent. So, why would anyone ever give a 60 day notice. They could just leave if they wanted and save half a months rent...at least, that is what I understand in the jargon above...

Post: Early Termination of Fixed Term Tenancy: Portland, OR

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

All good points. Thanks. There is silver lining here for sure. I want to understand this so I can go to them and be like, "this is what I can, legally do, but I'm a reasonable guy, so this is what I think we should do to have it be win/win for all of us."

@Mike Nuss Where do you interpret in the legal wording that I can hold them to the whole thing?

Post: Early Termination of Fixed Term Tenancy: Portland, OR

Mike BiewerPosted
  • Real Estate Investor
  • Portland, OR
  • Posts 9
  • Votes 1

Hi there, 

I've been a part of BP for about 6 months now and this is my first post. The hosts always say to post questions and you'll get answers. So here we go!

I have a rental house that a lovely young couple moved into about 6 months ago. I got a text last night saying they were breaking up and wondering what they are on the hook for. They signed a 1 year lease and now want to break it basically. I'm trying to understand the legal jargon on my Rental Agreement so I know where I stand and have a basis for coming to a win/win agreement with them. Here is what it says:

"Upon any failure of Resident to occupy the Premises for the full term of a fixed term tenancy, for any reason other than as provided in ORS 90.453(2), 90.472 or 90.475, Owner/Agent may charge Resident either:

---

A)all of the following: i) all rent, unpaid fees and other non-rent charges accrued prior to the date that Owner/Agent knew or reasonably should have known of the abandonment or relinquishment of the Premises; ii) all damages relating to the condition of the Premises; iii) an early termination fee in an amount not to exceed one and one-half month's stated rent and which is due on the earlier of the date Resident gives notice to vacate or the date the Premises is vacated; iv) interest on the above amounts at the statutory rate from the date each was due, and v) all other amounts due at the times specified in this Rental Agreement; or prospective buyers or B) all actual damages resulting from the early termination, including but not limited to: i) repayment of concessions; all rent through the earlier date the Premises is re-rented and the lease termination date; ii) advertising and administrative costs to re-rent the Premises; iii) concessions given to re-rent the Premises; iv) the difference in rent if a lower rental rate is received from a replacement resident during the remaining term of the original Rental Agreement; v) damages related to the condition of the Premises, and iv) interest on all amounts at the statutory rate.

----

What's your take on that or your experience on this? If they truly want to leave, I'm tempted to just get them out asap, and get new people in and just charge them for the days in between.

Love to hear some other thoughts/experiences on this.

Thank you!