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23 August 2024 | 4 replies
Utility charge backs / RUBSAssigned parking spot rentals (vs unassigned first come first served)Vending machinesPet feesCommon facilities reservations / rentals (eg party rooms, etc)LaundryStorage rentals
26 August 2024 | 13 replies
I work with clients that 1031 into DSTs, some of which are slated from the start to go into the Sponsor's REIT utilizing the 721 UpREIT.
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24 August 2024 | 7 replies
A common pitch for realtors looking for listings is to declaure they have a large database of “buyers” they will bring those buyers by to see the property, but often zero proof of its existence..
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25 August 2024 | 10 replies
If the goal is to retrade after contract and prior to COE, you might have a shot if there was some sort of egregious delay on the seller side (e.g. on a recent project I had a dozen buyers stuck in escrow for nearly a year longer than expected due to issues with utilities), but even then it's a long shot.
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26 August 2024 | 44 replies
Even though I don't pay utilities the wear and tear on an AC is a huge expense.
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26 August 2024 | 73 replies
this is in our lease regarding prohibited conduct, aka violation of the lease, "criminal conduct, regardless of whether or where arrest or conviction occurs, including but not limited to: manufacturing, delivering, or possessing a controlled substance or drug paraphernalia; engaging in or threatening violence; possessing a weapon prohibited by law; discharging a firearm in the apartment community; or, except when allowed by law, displaying or possessing a gun, knife, or other weapon in the common area, or in a way that may alarm others"I'm no lawyer but the person who wrote this lease is a lawyer, "regardless of whether or where arrest or conviction occurs" leads me to believe that suspicion of illegal activity is enough.
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29 August 2024 | 43 replies
It's a common bias to over value your own assets
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25 August 2024 | 16 replies
As a result, it is much easier to talk about which areas you may want to avoid.The East side and near the Fair Grounds are commonly considered rougher areas.
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26 August 2024 | 24 replies
@Atul Mohlajee not sure who your attorney is, but three of our attorneys approved our automatically renewing lease that requires tenant to give proper Notice so it does NOT auto-renewal.Michigan law also allows any length of Notice requirement, ours is 60 days.That aside, a judge can rule however they want, forcing the losing side to go through an expensive appeal process.Regarding the 1.5 SD, they are legally allowed to deduct any damages, then apply the rest to outstanding rent.My opinion is that the PMC should only be able to charge:1) Rent + lease utilities until a replacement tenant is found (Michigan statute)2) Whatever the lease contract states