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All Forum Posts by: Tone Church

Tone Church has started 13 posts and replied 60 times.

Thanks for those who provided input. I guess I should have clarified that I'm already fully aware of privacy issues and that they may only be in public or common areas, outside the home, ideally signed and tenants notified. So the question really should have been what security camera companies have investors here used and what camera systems do you recommend?

Thanks :) 

I live in New York. I bought first out of state rental property down in Florida. I use blink cameras at home but have a feeling there are better options for out of state landlords. What video security service do you recommend? What else should I be considering?

Post: To escrow or not to escrow?

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14

I'm in the middle of two refinances. Optional escrow. I'm curious how you all view escrow for taxes / insurance. I have about $22,000 a year that would be put in escrow. I would like to instead hold that money in either a high interest savings account or otherwise very secure liquid investment. Does anyone have any thoughts about this or experience with this? I currently own three properties. 

Post: Real Estate Meetup Interest?

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14

@Ashlyn Longobardi  The next meeting is this Wednesday and we are currently meeting virtually via Zoom. You can register for it here: 

https://www.meetup.com/OrangeCountyInvestorsClub/

 

If I purchase a home as a second home, then decide to rent it out a few months later as a permanent rental property, am I able to still deduct repair / maintenance / insurance / other property expenses as I do on other rental properties? What should I be considering? 

Post: Deceased tenant in unit

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14
Originally posted by @Jonathan R McLaughlin:

@Tone Church A’s part of my apology for giving you a flippant reply to a serious question, here is some hopefully useful advice:

1) national companies like Balcor have local disaster recovery operations which include this type of cleanup, and they have a direct pipeline to insurance companies etc

2) local companies likely specialize in this type of removal and sanitization. I would contact pms of the area for recs and funeral homes as well. Even if the family is involved they will likely be overwhelmed. In a pinch the police will know.

3) you can be human—reach out to the lady downstairs and ask her how she is doing? She is probably terrified. This doesn’t have to be a landlord tenant type conversation. If there is a problem she will likely tell you.

4) do this fast, regardless of whose responsibility it should be—you need time to get it cleaned properly and to have it empty long enough so there is no COVID contamination from her or the cleaning crew and a new tenant will be safe and feel safe. About a week to be truly sure according to CDC.

Another reason for the speed—and I say this without any humor—is that all of these resources will face a probability be overwhelmed in the next few weeks.

 Thank you, I would use ServPro if I need anything done. Good call on reaching out to the other tenant to see if she needs anything.

Post: Deceased tenant in unit

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14
Originally posted by @Jackie Cramer:

YOU need to secure property. No one else cares. Do NOT let anyone else in except the executor or the attorney for estate if there is one. 

Or, one person st a time to go in with you present to search for a will or other paperwork. NO ONE is to remove anything other than that except executor who will need some time to be appointed by the court.The rent continues until it is emptied and paying is the executors job. 

The vultures will br there soon pick it over leave you with the leftovers and take their sweet time.

It's a hard situation but you must get control of YOUR property 

 Thank you! What if there is no will and thus no immediate executor? How do I know who the official executor is?

Post: Deceased tenant in unit

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14
Originally posted by @Greg M.:
Originally posted by @Steve Smithy:

3 - I think that depends on your state if the lease is passed on, but I haven't heard of that before.  I thought it would go to an estate probate eventually for debts but I think that death is considered something that lets them out of any leases.  They can pay you anyway if they want to but I don't think you can force them to legally.

This is state specific. In some states death terminates the lease immediately. In other states the lease continues and becomes the obligation of the estate. 

OP: Secure the unit ASAP. You don't want a beneficiary claiming that their uncle's million dollar horseshoe collection is missing and it's your fault that you failed to secure it. Also, if there are any damages to the carpet, first take it out of the security deposit, then try the estate, then insurance. Only get insurance involved if it is a high dollar amount that you can't recover elsewhere. 

 Greg, thanks for this. I ordered new doorknobs and will be replacing the locks tomorrow - with gloves and a mask on. I suppose I may do a walk through as well to determine what kind of damage, if any there is from body decomposition. I'll save insurance as a last resort and only if a high dollar amount. 

Post: Deceased tenant in unit

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14
Originally posted by @Scott Mac:

Originally posted by @Tone Church:

......................................

............................................

Hi Tone,

If there are any pets in the unit (including secret pets not on the lease), make sure they have food (Purina) and water (use the dishes in the cupboard).

If you don't want to keep them yourself, and the residents emergency contact can not take them, contact these people: https://www.nokillnetwork.org/d/New-York/

If it will be a few days until they get there, leave a whole bag of food cut open and a large amount of water.

If you don't want to go yourself to find out if they are in the unit, ask the first responders, neighbors, manager etc... if there were any pets in the unit when they hauled the deceased lady out.

>>> If you don't do this, you may very well find dead rotting stinking animal carcasses ruining the carpets and sub-floor when you are able to turn the unit, plus it's just the right thing to do.

Good Luck!

Thanks, hadn't even thought of that! I am not ready to go in there but will see if I can ask first responders. 

Post: Deceased tenant in unit

Tone ChurchPosted
  • Goshen, NY
  • Posts 60
  • Votes 14
@Greg M.

This is beautiful thank you for putting this together. That was my understanding of the law. I really appreciate the way you laid it out. 

Do I simply ask them who the executor is? What if there was no will and one wasn't appointed? Whose word do I take to determine who is the official executor or administrator of the estate? What if I allow the individual that says they are the executor into the unit, they take some of the belongings, and suddenly another family member contacts me letting me know that I allowed a sibling, for example, to take belongings that technically belong to the estate and that they weren't the executor. Do I need to request a copy of the will showing who the executor is or do I need to request some other paperwork?