All Forum Posts by: Bradley Behr

If you are worried more about "should I do this because I don't want to harm my condensing unit" then an easier source of information is your manufacturer's recommendations, which may be listed online or available for download.

If you are worried more about "I want to do it regardless of performance issues but just need to know if I am allowed" then a quick phone call to the code enforcement office Monday or Tuesday (whenever they decide to open) will be better than anything anyone here can tell you (unless, of course, someone in DeKalb County had the same issue they researched).

When you call, all you need to do is ask to speak with code enforcement and then ask: "When it comes to building a deck, are there any rules about required clearances above air conditioner condensing units?"

Thanks for the informative and entertaining thread Erik!

Like so many responses to questions on this site, the answer is almost always some variation of 'it depends'.

What can they rent other similar properties for in your area?

Do you have a cash flow on the property currently that meets your criteria for a good ROI?

You prefaced the question with info about how they had some issues that seem to be re-occurring, are you asking the question about raising the rent inclusive of that info or independent of it? That may change the answer as well.

In my case, I have one rental property that has gone through three six-month leases with the same tenants, and the rent has always been $1050.00. Several reasons for this:

Renter is co-worker and his brother (no screening took place, may bite me later but so far so good. Also this was a co-worker in the sense of 15 people in the office and we spent an hour or so talking each day in group/1 on 1 convos, NOT a co-worker in the sense of "oh you work for this company? Me too, at the downtown location."), so the personal relationship and utmost goodwill is not worth the small increase I would gain, in my opinion.

Market rents for similar properties are very close to the $1050.00 number.

I am not claiming that the above way is the most business savvy or the right way, or even a good way, it's just the way I have decided to operate.

More info: I am currently (and have been since renting) cash flow negative, by roughly $80 a month.) This was an accidental landlord setup, where we purchased a new primary residence and couldn't sell the first residence without incurring heavy losses. I am as close to 'amateur landlord' on the spectrum as is possible.

I don't have a ton of experience looking at county tax collector's websites, but any time I have they list the EXACT amount of taxes that were paid or are due. Some include the discount amount for early payment as well. Additionally, any time I have called a county agency for information on a house (liens, bill amounts, stuff previous poster mentioned) under the setting of "I'm thinking of purchasing this property and wanted to know x, y, z", folks are always more than helpful. I second the advice to pick up the phone when they open Monday.

Ideally, both.

However some reasoning I have seen and feels logical is as follows:

If you reduce your expenses by $X, you have saved $X.

If you increase your income by $X, you have generated $X - taxes - value of time worked to earn that money - any other factors.

So in terms of low-lying fruit (what is easiest/quickest to accomplish) cutting expenses AND THEN SAVING THE DIFFERENCE is what I would recommend doing first.

My wife and I put this into practice. 

We use a newer cell carrier and pay $40 month for the both of us on smart phone plans (unlimited text/data). We only have internet from our ISP, no home phone or cable ($50). We have no car payments. 

Our only other significant monthly obligations are water and electricity.

Please be aware there is a 60 day limit to opt into COBRA, not 90. Some companies may provide longer, and I assume Rob may have run into a 90 day time frame personally or through another individual, but 100% of the people I ever talked to had only 60 days.

source: (I am a former insurance salesman), and

http://www.dol.gov/ebsa/faqs/faq-consumer-cobra.html, Question 8.

 Assuming everything goes smoothly, you may be right. Renting to people you have a quasi-connection with and are prepaying would be better assuming all goes well than renting to a stranger paying month to month. However, that is assuming an awful lot for that time period.

I went ahead and did some more research for you:

"33-1321. Security deposits

A. A landlord shall not demand or receive security, however denominated, including, but not limited to, prepaid rent in an amount or value in excess of one and one-half month's rent. This subsection does not prohibit a tenant from voluntarily paying more than one and one-half month's rent in advance."

Again, I am not a lawyer and this is my possibly incorrect interpretation: If you rent to them, and let them prepay, it can't say anything about it in the lease. They have to volunteer it on their own. So to your original post of 'what clauses should I include?', I don't see how you could include any without violating the above statue.

According to "http://landlords.about.com/od/LegalIssues/a/Arizona-Security-Deposit-Law.htm", regarding how to store deposit (and I assume this would apply to pre-paid rent):

"How Must You Store The Security Deposit in Arizona?

The state of Arizona does not have any specific rules for storing a tenant’s security deposit. It does not have to be kept in any financial institution. In fact, the landlord is allowed to use the security deposit during tenancy to cover situations that have been spelled out in the lease agreement.

The landlord must have the appropriate funds due to the tenant available to return to the tenant upon tenant move-out."

Again, all information is "take at your own risk", and if you really REALLY want to be right, go pay someone who does it for a living.

 If you haven't already, consult your state statutes. Arizona State Statues Title 33 Chapter 10 looks like a promising start. Google is another viable alternative where you may find someone "plain speak" a statute but reference the legal info for your benefit.

I doubt this will help, since I am in FL, however according to 2014 statute 83.49, 

"(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:

(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants. The landlord shall not commingle such moneys with any other funds of the landlord or hypothecate, pledge, or in any other way make use of such moneys until such moneys are actually due the landlord;"

the next bit specifies a different interest bearing account that pays the tenants. 

Basically the way I interpret that (and hopefully the correct interpretation) is that even if they prepay the full year, I just have to let it sit in an account and draw it month by month.

I guess that is better in some respects that waiting for them to mail or otherwise deliver the rent, but the main reason I would like prepayment of rent is to USE it, not just let it sit. However based on my state laws I cannot do that, so prepayment of rent means little to me personally.

I am a noob with little experience in the rules and laws of LLC's so I could be very wrong, but I am not sure that is accurate. According to SBA.gov, the Limited Liability part of an LLC means "members are protected from personal liability for business decisions or actions of the LLC". So if I am hiring a contractor to repair the electrical on my renal units, that seems like an action of the LLC, which would be shielded under that company.

Feel free to correct or educate me, folks who know more!