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All Forum Posts by: Wesley W.

Wesley W. has started 110 posts and replied 1838 times.

Post: Renters Insurance: How do you explain it to the tenant?

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317
Quote from @Rachel Degutz:

Does needing renter's insurance apply to people renting out my garage to store cars? Or does their auto insurance cover this?

My understanding is that vehicles being stored can only be coverd by an auto insurance policy.  Best to get a direct answer from your insurance carrier, however.

Post: What Do You Think About "Good Cause" Evictions?

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317
Quote from @Nathan Gesner:
Quote from @Wesley W.:

Different courts treat these situations differently. I've removed tenants for all four of the reasons you cite, some through the court and some without the court.


 As well you should!

Is your market under GCE legislation?  I would be stunned if it were.

Post: What Do You Think About "Good Cause" Evictions?

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317

First of all, these laws are a complete misnomer.  

They are not "good cause evictions" - they are all about TERMINATIONS.  In other words, you MUST renew the lease of the tenant, except for the rare few instances outlined in the law.   Expect to shoulder the burden of copious proof - and even then it may not be granted.  So, if they are paying rent, they essentially get to stay.  But the liberal legislators like to camouflage this constitutional taking by appealing to the emotions of the public by using the term "eviction." 

Personally, I've seen tenants granted a continued occupancy/renewal of their lease for the following:

(1) threatening other tenants/neighbors with physical harm

(2) dealing drugs out of the apartment with children residing in the same building

(3) discharging a firearm on the premises

(4) refusing entry to the landlord/his agent for necessary repairs

And I am sure there are many other examples of bad behavior that the property owner is powerless to react to.

Post: Is it common to require first and last month's rent for new tenants?

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317

I absolutely collected first, last and security for my class-C rentals until NYS prohibited that practice back in 2019.

Many tenants cannot manage their money properly, so this mitigates the issue of not being paid last month's rent when they need to move and the new landlord is receiving those funds they have allocated for their housing during the last month of their stay.

This was also helpful to me to pre-screen who has their financial house in order and had saved for their moving costs as part of their planning.

If I still could, I most definitely would - without exception.

Post: Do you provide mini blinds in your class C rentals?

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317

I do supply the 1" light-filtering miniblinds from Lowes (Project Source) - and yes, they get broken pretty easily, but I charge for their replacement on turnover if they are damaged, as @Kenneth Soles does.

With the blinds installed, the units show better, create some opacity to thwart people trying to ascertain if the unit is vacant, and provide some privacy once the tenant moves in.

Post: No shower for 3 days due to necessary repair

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317
Quote from @Account Closed:
Lol, no and I wouldn't, because I think of future consequences.
You get what you vote for. You knew better, but you did it anyway. ;-)  
Actually, all the progressive s**t didn't start until 2019.

Post: No shower for 3 days due to necessary repair

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317
Quote from @Account Closed:
They would have to pay an attorney $5,000 retainer just to get his attention to have him tell them they have no case. 

You clearly have never own rental properties in NYS, sir.

Every tenant gets a pro bono attorney for landlord/tenant matters, and there are TONS of these young law school grads working for United Tenants or other such orgs that are more than willing to make a case out of nothing, throwing it on the legal wall and see if any of it sticks.

But, I digress...

Here's an angle no one has yet taken on this one.  Are they on a term lease, or MTM?  (look up my detailed posts on the benefits of MTM here on BP)  How about getting a plumber to triage the leak, serve them a notice of termination (or not renew their term), and then you kill two birds with one proverbial stone?  You get rid of (what sound like inherited) tenants that are a hassle - and will continue to be - their behavior never improves, fyi.  And you have a vacant unit to do the "proper" plumbing repair.

If you offer them a rent concession, my money is on them going back to that well each time there is a problem, asking for yet another abatement.  Eventually becoming more emboldened to threaten legal action.

I know, I'm cynical.  But I've been renting class C in NY for ten years.  I'm a product of my environment. ;)

Post: Tenant Payment Issues

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317

Not at all.  It's in the lease.  It's a prerequisite for tenancy.  I do not personally handle any rent payments.  No knocking on doors, no "the check is in the mail."  If the money is not there by the end of the grace period a rent demand notice gets posted on the 6th.

Post: Tenant Payment Issues

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317

My lease requires that tenants have to pay rent directly to a predesignated bank account:

A. You agree to pay the monthly Rent indicated above via deposit to the following checking account at XYX Credit Union: account # 123456; routing # 123456  (nearest branch is 123 Main Street, CITY). Rent is due in advance and in full on or before the 1st day of each month without deduction or set off. Time is of the essence. Payment may not be made by third party checks. If rent is not paid physically at a branch (i.e. it is paid online or via bank transfer), the date of payment will be considered the date when funds reach our account. Your record of this deposit (via teller slip or online transfer) will be your receipt of payment.

This elimates complextity and the additional steps/rules that come with using a third party to collect rent.

I get an email alert when a tenant makes a deposit, and each rent amount is unique so I know who has paid in case they don't have the teller add a memo to the payment.

They can transfer funds online, or walk in to a local branch with cash, personal check, wampum, etc.  The teller's slip is their receipt.  There are teller notes on all my rent payment accounts alerting bank staff not to provide a balance on the slip if it is not the account owner making the deposit.

I have used this system for 10 years with multiple buildings and dozens of tenants without any issues.

Post: Non renewal notice of lease by tenant

Wesley W.Posted
  • Rental Property Investor
  • The Vampire State
  • Posts 1,873
  • Votes 2,317

They "paid you back" not because they knew they were foul playing, but to mitigate their business loss due to you not honoring your part of the written contract.  It would cost them more in legal fees/time to take you to court and prove their case, which they would win.

You've obviously never had a tenant move out on you in the 11th hour.  This is especially troublesome with student rentals, where there is absolutely no demand after the summer.

Great example to are making for your daughter, here.