All Forum Posts by: Mike H.

In my many years of rental experience, this is the first time I have run into this situation.  Hope to get some feed backs or experience sharing from you guys.
Location: Dallas, Texas

I have initially leased the property to a couple, however at end of lease they have decided to split.  Here comes the issue I am having, each party claims the return deposit should go to them and I am the person stuck in the middle.  How would you deal with this situation?

if it were a roommate situation, I usually just split the deposit.  But w/ this couple split, I am not sure if it is the same or there are other ways in this situation?  and thing I should be aware to protest my position.   Thank you in advance for your inputs.

Anyone know what is the transfer cap for Zelle and Cozy? 

Recently I have had a question pop up and I thought I would check with other LLs to see how you guys deal with it.  I have a property that has received a 1-mon deposit (say, $1000) and a refundable deposit ($500) for pets.  When comes to damage deduction, do you deduct the pets associate costs on the pet deposit and others on the 1-mon deposit?

Do you send a bill to tenant when the overall deduction exceeds the $1,000 or $1,500 amount?

If it is the $1,000 amount, what's the reasoning behind it? 

Thanks in advance for all who comments on this question.

never experience this, however my thought would be... if Medical marijuana is a "legal" substance then it would be consider the same as other medication drug.  Therefore they can legally proses within the property without violation.  regards smoking part, I am not sure how it would work w/ the typical lease language. Smoke elsewhere? 

Per my understanding ADA compliance is only reinforced in commercial level.  In house or apartment unit it is not reinforced otherwise builders will require to make every home build out there with compliance. 

As a LL though, I think I would follow many suggestion above and follow with a letter to conclude the discussion with area of disability identified and clearly noted that tenant is aware the unit/house is not design for compliance in anyway and finally tenant accepts as-is condition.   

Per recent podcast (H. Turner), you could deduct tax for the rental side of unit.  Check out the podcast for more info.

I simply use excel sheet to track the milage and expense for properties.  takes effort but once the structure is done, you can use it for long time.

Best way is to rip off the carpet to inspect the area.  If carpet is needing replacement, this would be a good time to do to understand what you are dealing w/ below the surface.  Stairs should be fine as you can see the structure easily.  step on and inspect for problem, replace steps or reinforce below stair would be best choice if structural allows you to.

upload photos, it would be much easier to see the problem area than through description.

You should obtain a copy of standard lease from your agent to review the basic rules before adding more.  this would save you time and at least have your first draft inline w/ state regulation.  Best to list additional terms and reviewed by attorney.  Most of time standard lease would protests both parties.

@Levi T. yes, little cost here and there adds up, definitely

Here is an UPDATE, After given the thought overnight, I decided to rekey the entries so I feel better on security and ensure both tenant are well protected.  After I inform the tenants, the situation had a dramatic turn....the Lady who told me she wasn't sure where she had lost the key has magically found it after a trip back to the location where she thought she had lost it.

I like to keep my trust on people, so I won't think too much about this, however will keep an eye on these tenants just in case.

Regards rekey process, I have purchased Kwikset smart key system last year to test out.  This would allow us to rekey in 2 minute and can do it anytime as needed.  For these who might be interested, here is a link for you to explore. So far, they work well for me. Kwikset Smart Lock