Melpo Katsaros
Egress Window in Basement: Referral and Recommendations
16 January 2024 | 8 replies
Any suggestions on who to hire and what to look out for on the installation process?
Ashley Pacifico
Looking for advice for first investment property
16 January 2024 | 8 replies
You might also consider doing a joint venture (jv) with someone in your local area who can help you through the process.
Amby Bhagtani
Property Management Company charging too much
16 January 2024 | 5 replies
I agree there needs to me more context, and there should be a more detailed billing process from your PM on what is being charged and why.
Brandon Foster
North County San Diego, New Laws Regarding Rentals
16 January 2024 | 3 replies
I would love to know what everyone thinks of these.No-fault eviction rules will change for owner move-ins and remodels under Senate Bill 567, effective April 1, 2024.The California Tenant Protection Act of 2019 has been amended.Starting April 2024, more information is needed for a homeowner to end tenancy for moving or major remodel.To reclaim as owner-occupier, move in within 90 days of residents moving out.You must stay in the home for 12 months before it can be rented out again.The homeowner's close family must also follow this rule.Family members (spouse, parents, children, grandchildren), names, and relationships must be disclosed in the termination notice, following the same rules.Having occupied a rental unit on the property or a similar unit elsewhere does not qualify as grounds for lease termination.For remodels, owners of rental homes must provide more details of planned work, including copies of permits or signed contracts.If the work isn't completed, you must legally contact former tenants and offer the opportunity to move back in, so make sure to get a forwarding address when remodeling your rental home.Starting July 1, 2024, security deposits will be capped at one month's rent.Previous laws allowed 3 months' rent to be collected as a bond, in addition to the first month paid before moving in.With rising rents, move-in costs were becoming unaffordable for renters, especially for furnished properties.Moving forward, for a monthly rent of $2,500, the move-in cost will be capped at $5,000, including the security deposit and the first month's rent.This cap applies to both furnished and unfurnished homes.No need to return the difference if you already have a large security deposit of more than one month's rent.You can keep this amount even if it exceeds the new caps, until July 1, 2024.Homeowners will have increased protection against illegal occupancy with the implementation of Senate Bill 602, effective January 1, 2024.Trespassing and squatting pose genuine concerns to homeowners with empty properties.Starting in 2024, homeowners can notify the police about their vacant property, authorizing them to evict any trespasser who tries to live there or falsely claims to be a legal resident.This notice used to be valid for just 30 days.The amendment to SB 602 extends trespass letter validity to 12 months and allows electronic submission.A valid letter allows homeowners to avoid court eviction for illegal occupants.New laws to prevent credit history discrimination were introduced (Senate Bill 267) on January 1, 2024.Update your tenant screening process accordingly.If an applicant receives a government rental subsidy, you must reconsider how you evaluate their credit history and rental application.To prevent discrimination, changes to SB 267 prohibit landlords from relying on credit history unless the applicant has the opportunity to present alternative proof of their ability to pay their share of the rent.You must allow sufficient time for tenants to provide benefit statements, pay records, or bank statements.Consider this information instead of their credit history when deciding on lease agreement offers.
Leah Waltz
Spreading My REI Wings!
16 January 2024 | 2 replies
We will live there for at least one year, and he is entrusting a lot of the process to me.
LaToya Morris
Lender Demands Payoff 3 Weeks After Closing
16 January 2024 | 1 reply
It could be stated the borrower knew funds would be received late in the process and did not disclose that information.Sounds like it was a simple mistake were the borrower "Assumed" the bank was doing its job and did not communicate in detail the funds being reimbursed a week before closing.
Max Yuan
Too many off-market leads for me to actually execute on
17 January 2024 | 13 replies
End of the day real estate is a relationship game and nothing can beat the human connection.The only thing AI and large data pipelines can really do is streamline an existing process that is working for you.
Jack Elliot
21 Years Old & Ready to House Hack
17 January 2024 | 21 replies
My 2 cents: became part of someone's investment (Don't put any money in right now) but just see if you can become part of the process for learning purposes.
Donte Rome
Removing tenants for a wholesale deal in Florida
15 January 2024 | 2 replies
If the tenants don't respond, you could offer to pay them to leave, or advise the seller to begin the eviction process and delay the closing.
Edward Acker
LLC structure for new investor
16 January 2024 | 3 replies
Structuring an LLC in Florida is a relatively straightforward process.