All Forum Posts by: Mike Dymski

@Carlos Scarperostop spamming the forums.  You are replying to old threads and the feed is full of your spam.  You have 1 vote for every 10 posts.

most capital raisers get ownership interest in the GP (or are broker/dealers)

Sure, you can use the sales proceeds however you like.  You will have to pay tax on the depreciation recapture and gain on sale (if applicable).

Unfortunately, unreliable sales people and gullible consumers are the norm.  Common sense is not so common.

Have the new resident apply, add them to the lease, and increase the rent accordingly.  If they don't qualify or if the current resident continues to violate the lease agreement, send notice to cure and evict.  Communicate and treat them with respect throughout.

Have the resident take care of lawn maintenance and utilities and include it your lease agreement (standard).  If they don't maintenance the lawn, send notification to cure just like any lease violation (and get it taken care of and bill back to resident).

This is not "by the book" advice but we are often in those situations, have to make judgment calls, and litigation is extremely rare. I would write up and deduct from the deposit the broken doors, odor repairs, and carpets. If they respond, you can then pivot accordingly. Incidentally, $2k is very reasonable for all the stuff you mentioned.

It does not take 1-2 weeks to fix an AC unit.  I would be very upset as well...we all would.  This is a bad situation all around.

"Crazy is what crazy does." - Forrest Gump

No sarcasm.  You asked if we would do month to month if our only option was a prospective resident with concerns.  Low demand / hard to rent properties do not meet my criteria or that of many other members.  Using month to month vs one year leases is a different question and they both have their pros and cons.  I do one year, cycle maturities during peak rental times during spring and summer, enforce lease termination clauses if a resident leaves early, and file eviction for $40 on the 11th if rent is unpaid.  I agree there are also pros (and cons) of month to month.