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All Forum Posts by: M. Malik

M. Malik has started 2 posts and replied 3 times.

I'm looking for a rock star REI CPA in the Capital Region that is well versed in NY RE tax laws, Partnership/LLC tax laws, recent QBI changes and comfortable with multi-state filings.

My financial profile in 2018 shows income in CA from non-real estate related employment and losses from real estate rentals in NY. I'm looking for guidance on filing all properties as a combined business and deducting my losses from my income. 

Thank you all for your feedback, your perspectives are pretty insightful. 

@Craig S. @Jon W.  @John W. --- We are talking around 10k in unpaid rent. Does knowing the amount owed change your opinion to not pursue legally or do you still think I should consider recovering through rent increase and leave an attorney out of this? From your experience, will the legal fees eat away a significant portion of the amount recovered?

@Wesley W. -- the property is in the capital region. 

We recently took over managing our own properties after a few years of poor mismanagement. During the process of our audits, we found a few long term tenants who were behind on multiple months of rent and were able to settle with all but one. I'm looking for a recommendation for a lawyer who can help us settle this last remaining tenant's outstanding rent debt. 

In terms of the accounting, previous deposits, emails with the previous manager, all grievances and their associated rental  discounts has been audited, accounted for, and documented. We've shared this information with the tenant, clearly outlined amount they owe and what that number is composed of, and provided all related documents, and a deadline for payment. However, the tenant has replied that they will not be paying. To clarify, since taking over management, the tenant has been up to date on rent payment, this is months of back rent owed from prior years. 

I'm looking for a lawyer who can send a formal demand letter and then serve a complaint, if necessary. Because the accounting and documentation is completely and transparent, this should be a fairly straightforward case and I'm interested in a flat-fee proposal as opposed to an hourly bill rate. 

That said, we need to reassemble our own team and I am looking to use this as an opportunity for us to build a relationship with an individual or firm that we can continue to work with going forward. 

Do you have recommendations of a lawyer in upstate NY who is well versed in landlord/tenant laws and offers competitive rates?