All Forum Posts by: Craig Moffett

Thank you. This is like the sound of us. However Tenet C was able to prove that she did pay tenant W. She has a receipt from tenant W and proof of funds transfer on November 1. 
Tenant C is also pregnant. Do not think it would sound good for a local landlord to evict “paying”pregnant tenant.

I feel comfortable keeping Tenant C with a new lease however I’m not sure how to get out Tenant W while keeping C. I was hoping cash for keys would work

Have a 2 bed one bath unit with two adult tenets. Both on lease. Not rented per bedroom the entire unit is rented to both. We recieve a money order for entire about each month. Apparently Tennet C pay Tennet W who then pays us. Tennet W contacted us end of October notifying us she could not pay till Nov 11. We informed her of all late fees and that per policy pay of vacate goes out on the 10th. 

In short she has still not paid and now saying it my be end of month. We got a pay or vacate out late 2 days ago. Come to find out tenet C did pay Tenet W her portion of the rent and Tenet W used money for other things. We are going to try and work with Tenet C to create a new lease if we can move Tenet W out. Tenet W now says she will not move out becuase she needs a court order for her RAMP application. From what I can tell Ramp only pays money if issue due to Covid which it appears hers is not. I offered her cash for keys. Really do not want to go through with eviction process

Any general thoughts? I will be meeting with attorney soon

Great info, thanks. This was started by me seeing a large online petition in New York for the governor to freeze rent in addition to evictions. I don’t think I have heard any talk of a nation freeze on rent. Obviously we want to be as helpful to people as we can during this pandemic just some thoughts. 

Has there been any discussion here yet about governments potentially ceasing ability to collect rent for a certain time frame during this Covid pandemic. While there is a great economic strain on people living paycheck to paycheck I also assume some landlords live off there cash flow. Any ides on how to combat this?

Thanks what my personal umbrella policy cost. I was told because I want it renter specific and to cover my LLC is what increases cost. I received 2 different quotes for 2million at over 1K annual. I found a 1 mill policy for just under 700 I am looking at. Thanks agin for info. I hate paying for all this insurance but don't want to be hit early in my real estate career with a large lawsuit.

Yes an umbrella policy. Thanks for info

My attorney recently advised that I get a separate and specific liability policy for my rentals. I had a personal liability policy but he wanted a specific one naming my Rental LLC and the addresses. I just got a quote back from an independent insurance agent and it was vastly more then I expected (same annual premium as my home insurance on my rental). I was under the impression that liability policies were significantly cheeper then general insurance (as my personal policy is) Does any one here use and advise a rental specific liability policy and in your experience has it been quite expensive?

Sorry about that Sam. MY set up went fairly quickly and when I emailed them a question they got back in a few hours. I have not accepted any payments though here yet though. If its really only around 3 days for them to process payments and they are reliable I would use them.  

Anyone with experience using Zillow for online rental payments. My primary concern is how long it would take them to process payments. Thanks for any help.

Thanks @Heath Ryans and @Jonathan Smith. The repair part is portion I know least about. A guy that has flipped some before went through it with me and gave the 12-15 number. I have priced floors and paint but not much else. The cabinets and counter tops in kitchen are in good condition would just need painted. All sinks, light fixtures, and toilettes in house would probably need replaced as they are very old. 

Thanks again.