All Forum Posts by: Account Closed

You're usually required to also send copies of any notices to the co-signer, too.  Another reason why I don't like co-signers.  As you have learned, having a co-signer doesn't turn someone into a good tenant.  

Unfortunately, by allowing your tenant to pay late, they could make the argument that you have effectively changed the due date.  They probably aren't going to hire a lawyer and find that out, though.  

I'd have a conversation with the tenant and offer to let them out of the lease, but that you're going to be serving them with an eviction notice every month they are late from now on.

Is the property somewhere you can evict over late fees?  In CA, you can't, for instance.  The judge would kick it out and you'd have to re-file the eviction, only including the late rent and not any late fees.  So, check that out, too.

What a hassle.  Sorry you're dealing with this.

Just wanted to chime in that it's important how you are named on their policy.  I can't remember the correct name for what you want, but you only want the option where you are notified if it lapses.  You don't want to be an additional insured (if that's the correct term).  It can conflict with your own insurance or something or end up tying you into liability or something.  Sorry, can't remember exactly - but check with your agent and be sure it's the option that only notifies you and doesn't tie you into their policy somehow.  The wording is important, that's all I remember.  Somebody else can give you the correct names and details, though, here on BP.  

Not sure if you also added in taxes for the STR. I'd consider the hassle factor, too, with STR. Lots more to manage.

I also wonder if AirBnB tenants can be evicted?

I'm not sure what I'd do, personally.  It would really depend on the property, location, etc.  I do know how much work is involved even with long term tenants, so I'm not sure I'd want to deal with AirBnB turnovers, phone calls, questions about this and that - how do I work the TV, where is the wine bottle opener...on and on.  Unless you'd be able to have a manager deal with it.

I can't remember the details right now, but my old brain is telling me that you want to be sure and keep your insurance and your tenant's renter's insurance separate.  Seems like it was something about you could end up liable for their stuff.  Hopefully, someone will chime in who knows what my old brain is hinting at.  I just remember that there is some kind of issue when you are connected to their insurance, that it's not a good idea.

Sorry to be vague, but it's worth checking out.  I wouldn't do it anyway, just because I could see more work for me, if I was managing the property.  I'd want to be able to say - sorry, that's what your renters insurance is for, so you need to call your agent.  Bye! (in a nice way, of course).  I wouldn't want to end up enmeshed in their problems with getting a new couch or whatever.  Lots more phone calls and work.

 I like the Nolo Press books.  They have one for California landlords which includes contracts and all other forms, etc., you need.  I used them and they're tweakable, in case you want to add stuff like parking rules or whatever.  They also have books on screening tenants and tax deductions for landlords, etc.  As far as educating yourself and the forms you need, I highly recommend their books.

https://store.nolo.com/product...

Best of luck to you.

My question is - what caused the power surge?  Was it the furnace?  Or - was the tenant plugging in too many things or something?  Meaning - is it possible the tenant was the cause of the surge - and hence - wrecked your furnace?

I think what I'd do is ask the tenant if they had done anything that caused the power surge.  Did they have a bunch of stuff plugged in, etc.  Make it look like you suspect them of ruining your furnace.  Hem and haw a bit.  Tell them you need to look into what caused the power surge and you're concerned the tenant possibly caused it and you're wondering if you should charge them for the furnace.  They'll freak out and say - oh heck no!  We didn't ruin your furnace!  Tell them you're going to look into it and maybe talk to your lawyer.  Do it in a really nice way, but sound concerned about maybe having to charge them for the furnace.  You'll get back to them next week, kind of thing.

Then, miraculously tell them you've decided not to charge them for the cost of the ruined furnace, but they need to agree in writing that they will not overload the circuits in the future and how about we just call it even - you won't charge them for the furnace and they will have to replace their own TV and suggest they plug everything into surge protector strips.

And then, maybe you could be magnanimous and give them a couple surge protector strips to show them what a nice landlord you are :-)

That's what I'd do.  Been there.  And, even if you have a clause in the contract about renter's insurance, etc., they will still do this.  They don't understand renters insurance and/or are cheap and just don't understand what landlords and tenants are each responsible for.  Plus, it never hurts to try, right?

I just looked to see if they're still in business, and it appears they are - Baker Brothers Construction in Bellingham, did a major remodel for me as the general contractor a hundred years ago in Sumas and they were amazing - really honest and real quality work.  The job included everything from new electrical, plumbing, insulation, they even lifted up the house (built in 1907) and put a new foundation under it, moved walls inside, flooring, just on and on and it all turned out amazing.  

They could at least suggest someone reliable, if they don't want to take jobs in King Co.  Best of luck to you.

I learned that oddly, sometimes raising the rent is the best thing to do.  If the rent is too low, prospective tenants may wonder what's wrong with the property.

As to what to do if you end up with a negative cash flow - depends on what your goals are, etc.  But, you're going to lose money on the sale as far as paying seller fees, so you might not want to jump the gun on that.  My first thought was - raise the rents, lower other costs, if possible.

Why is Fresno so coy about the monthly charges for utilities?  It's funny - the FAQ on the city website under "what are the fees for utilities" is answered with a non-answer with some vague mention that fees are calculated by size of lot, etc.  I have been diligently Googling every possible way I can think of to try and find a basic monthly charge for water/sewer/garbage for a residential property and it is the great mystery of the ages.

My question here is to try and find out what I could expect in utility fees if I buy a residential property in Fresno.  

But, additionally, why don't people complain about the smoke and mirrors?  If there isn't some transparent fee calculation available, how do people know the folk in city hall aren't just pulling any old figure out of thin air for your fees?

Anyway, what are the normal fees for a single family residence for water/sewer/garbage? If you live in Fresno or have a SFH rental there, what are your average monthly costs for these utilities? Thanks.

 LOL, made me laugh :-)  But, hey, you could write it off, right?  And maybe you could ask the tenants to open the fridge so you could fly the drone next to the window to see if you might want to break in and eat their leftovers...  I mean gain lawful entry with your key...at 1:00 a.m.....