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16 November 2018 | 2 replies
My opinion is ultimately the PM company should be held liable to make sure this vendor gets paid.The PM agreement states: (21) hire contractors to repair, maintain, redecorate, or alter the Property provided that Broker does not expend more than $ for any single repair, maintenance item, redecoration, or alteration without Owner’s consent; Leasing & Management Agreement concerning: (TAR-2201) 6-1-10 Initialed for Identification by: Broker/Associate and Owner , Page 3 of 11 (22) hire contractors to make emergency repairs to the Property without regard to the expense limitation in Paragraph 4A(21) that Broker determines are necessary to protect the Property or the health or safety of an ordinary tenant;3) Should/Could the vendor file a mechanics lien at this point?
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17 November 2018 | 8 replies
@Mike Dorneman The replacement property needs to be identified, PRIOR to the expiration of the 45 day identification period.
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2 October 2018 | 4 replies
A Payment Schedule should outline Payment Milestones, Amounts & Terms which describe the work that needs to be completed in order for the Contractor to get paid, how much the Contractor gets paid, and when the Contractor gets paid.Form W-9You will need to get a W-9 from the Contractor so you have the Contractor's Name, Address & Taxpayer Identification number which will be used for preparing Vendor 1099s for your Contractors at tax time.Proof of InsuranceBefore hiring a Contractor you need to make sure that the Contractor is carrying the proper insurance to protect your property, investments & personal assets.
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29 October 2018 | 6 replies
@John NguyenI am assuming your 45 day identification period has expired and hence cannot swap property B for another one.
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10 October 2018 | 8 replies
She might be referring to an ITIN (Individual Tax Identification Number).
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15 October 2018 | 34 replies
. 🙄 I feel they are pretty standard for the market:Applicant must have current photo identification and a valid social security number.Applicant's monthly household income must exceed three times the rent.
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15 October 2018 | 6 replies
My identification date is Nov 9th, but nothing has been formally identified yet.
25 September 2018 | 10 replies
@Jesse MurilloAs long as you're within your 45 day identification you can simply shop for more properties.
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24 September 2018 | 4 replies
Patrick, I am by no means an expert but my first thought would be to confirm with county property appraiser what the PIN (parcel identification numbers) is described as and if it can be changed or separatedAlso, the tittle company who will provide insurance may be able to weigh in too.Bank or credit union may help with valuation question.
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27 September 2018 | 4 replies
What happens if you are past your “identification” period by this point?