Mohan Deep
Tenant moved out, filed for bankruptcy
My tenant moved out but left a lot of damage to the property. After they moved out, they texted me saying that they filed for Chapter 13 bankruptcy and that I should contact their lawyer. They gave me the lawyer's pho...
Filip Reutov
Investing tenant’s security deposit
I don’t own any properties YET and am very new to the real estate world, but earlier I was reading Brandon Turner’s “The Book On Rental Property Investing” and it sparked an idea in my head about tenant security depos...
Kelly N.
Prorated rent collected at closing- tax question
Hi,
We closed on our first rental property last month and had prorated rents deducted from our closing costs. The amount deducted is considered rental income, right?
Thanks,
Kelly
Nat C.
Who does the security deposit belong to?
When a property is sold with tenants, their security deposit is ordinarily transferred to the new owner. What happens if the tenants are behind in rent? Can the old landlord deduct it from the security deposit or do t...
Shane R Smith
Security deposit interest owed?!
Calling all Ohio landlords @ben, or someone that read legal jargon better!I have a tenant that's claiming the we owe interest on the security deposit. It's referenced in the Ohio code.5321.16 Procedures for security d...
Tony Marcelle
Can I use earnest money deposit as leverage?
If I was to buy a house from someone who is asking for too much earnest deposit, could I lower my offer price to make up for the bigger earnest money deposit? Could I not just increase earnest money deposit from the n...
Michael Taglieri
Help - Security Deposit Question
Background:We recently rented our 2 bedroom unit to new tenants in Massachusetts; they are boyfriend and girlfriend. I went to set up the Security Deposit account with my wife and I as the custodian and them as the ow...
David Walton
Investing security deposits
Hey BP folks! Curious about potentially investing some of our tenant security deposits in CD's. Was thinking of taking about half of the deposits we currently have and doing some short term (12-24 month) CD's as a rev...
James Viglione
Question lenders! Will a large cash deposit cause issue w/ loan?
Question for all you knowledgeable & helpful lenders out there!
Over the years, I have a semi-substantial sum of cash saved that I’ve been storing in a safe. Now that I’m looking into purchasing an investment pr...
Maxim K.
Lease agreement adjustments
Hello BP members.I’m in the process of gathering all the document for lease agreement.My applicant has a small service dog and I can’t charge any extra monthly fee for it . But I can collect security deposit of $500, ...