All Forum Posts by: Mike H.

This looks like multiple situations condensed into one.  I will share my thoughts on the lease breach.

a) walk-through report.  I would suggest to go over the walk through to review the condition of property.  Technically tenant is responsible for damages beyond normal wear and tear, there maybe some items still under their responsibility that you would consider to have them responsible for.

b) Per lease agreement, the moment they breach the lease, the deposit goes to you, you are free to do anything you want.

c) & d) Communication & Remedy:  Personally I think this would depend on the situation.  If through communication can reduce the bitter feeling and avoid taking this case to court, I think it is the best interest of all parties.  If you have everything well documented and work along the regulation, I don't see you need to fear even if they do decide to sue you.  But again, if this can be avoided via communication, that would be the best.

Hope my input helps in some way.  Again, double and triple check local regulation to make sure you are following the rules.  

I have always been representing myself as a PM although I do own the properties.  This allows me to get extra time when comes to sensitive questions so I could think over w/ my clear mind without being emotional at spot.  Regards lease signing, I have always been signing it without additional notation.  I am interested like you how others do with this situation.  

being there and done that; the lease agreement already noted to pay landlord in ONE payment, doesn't matter how it is contributed.  I had the same problem previously and I stated it is the issue they need to deal with.  never heard an issue and rent is still paid.

We use Carrier and Trane for commercial projects, I would say look for a reputable service company for installation, or through referral.  Installation through "professional" tech does not mean anything, it comes down to technician's experience and attention to detail to get the units installed right.  reputable company is more like an insurance for the follow up service in case tech screw up in field.

referral is likely the best option, just need to search who you have in the area.

This is probably the toughest call for being a landlord.  None of us can give you a "right" answer to this, I think much of this decision will come off from your personal value as well.

If she has been keeping the unit well, she certainly shows the character of being a great tenant.  If financially is not a burden for me, I would consider to work with her a little.  ie. agree to keep a record of missing rent to pay pack without late penalty. 

this is just a first impression, after all my personal goal is not to be a blood sucking landlord, but like few people have mentioned, this is a business.  So it will take some good thoughts to decide a good balance on this situation.

Good luck and wish the lady will be fully recovered soon.

Exactly same requirement as @Frank Squire

if the tenant changes position during the lease, we will ask for updated information at Renewal as well.

PM me for recommendation

You can search on your state and likely find a copy of what general real estate agent uses.  those are standard agreements that you could use a go by to develop and tighten rules for your own version.  Attorny's review is recommended on this though.

With condos, you would have your standard HOA fee that covers few expense items. Other than that, you still need to include insurance (interior coverage), power/water, property tax, mortagage. I would consider ALL expense items to get an overall view.

Then I would review the rental value of the area, review the photos of conditions to see how close you are matching the market then determine a possible income rate to compare the values if the numbers work. 

Hope this helps

Even though they are handy, I would still let someone else do the repair for quality assurance and liability protection.  If something he fixes fails, who to blame?  and if he fixed things creatively, it would cost you even more to have them done correctly.