Beginners question

8 Replies

Hello:

I had an incident were a tenant just moved in and "by accident" caused minor plumbing damage. ($300 worth)

Don't I bill them directly? Or do I take the money out of there Security and let them know?

I would bill them directly. I only touch the security deposit after the tenant moves out. They could cause more damage before they leave and if you run through that deposit money, good luck trying to get any more.

Billing directly as the others have stated would be the logical choice as long as your lease agreement supports it.

I think your answer is well covered above.  Welcome to the site!

Hey @Jeff Wilson welcome to the site. I agree with everyone above to bill direct.

Paul

Welcome to BP community @Jeff Wilson   It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

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Wishing you the best! 

Dmitriy Fomichenko, Broker
(949) 228-9393

Thomas(or anyone) - would you mind telling me the "language" in the agreement that states something to that affect? 

Thank you all for your comments..  

My dream is to someday meet my passive income goal to replace my 9 to 5.. But the reality of ownership has been an eye-opener to say the least. Wish I found this site "before" I bought the place. :)

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