All Forum Posts by: Daryl Luc

Originally posted by @Theresa Harris:

 Simply tell them you had lots of interest and decided to go with another applicant.

 Don't make it complicated....Theresa is spot on. As an aside, you really only owe a 'rejection' response to someone who reaches out to you after they attend a showing.  The only time anything is sent in writing regarding a prospect's non-selection is when they've done an application, authorized background and credit screening and failed the standard.  This is a legal requirement if information contained within the reports was used to deny.  See the Fair Credit Reporting Act for details and clarification.

"Joint and Several Liability" clause.  If your lease doesn't have it, then the rent is owed by the one left behind.  If it has it, then the issue becomes, how to collect from someone who is a. gone b. owes less than it would cost to collect. 
If you allow sublet, then the door is always open to having a tenant that is short the rent.
If this was my situation, I would be having a serious conversation with the tenant about the future outlook for getting paid in full, on time, monthly.  If it's not good (ie: you're the one being penalized), then make your move to negotiate the tenant out or accept that it's going to be month to month stress until the existing lease allows you to replace the occupant(s) with new.

Any reason you aren't calling the building inspector for your answer?

Even if you signed it, it's not enforceable until monies owed, as specified within your lease terms (ie: first month rent + security deposit as an example) are in hand and cleared.  The only real mistake you could make in this situation is handing keys to someone before the lease is signed by them and/or the required up front payment has been made.  Jill's idea is acceptable when the holding money is applied to the deposit when the rest is paid or forfeited if the time expires before execution of payment owed.

Your lawyer will have, or should have a number of questions that aren't answered in your post.  Who's older and what's the expectation of ownership based on who passes first.  What's the division of labor. How to dissolve in the event of disagreement.  Are spouses to be members, deeds done as TOD or?, etc.  At some point will an irrevocable trust be required for age related protection of assets.  There are quite a few of these and some will be specific to your jurisdiction. 
So, you will, of course, add your brother to the LLC as a member or eliminate it entirely in favor of an LLP.  This is counsel both your attorney and accountant need to provide. You will benefit greatly from a partnership agreement separate from the LLC/LLP documents, ByLaws etc. 
It's not like knitting a Volkswagen out of a pile of steel wool, but this forum just isn't a good place to take anecdotal advice to the bank for something like this.  Good Luck.

Cleaning, painting, annual checkups and maintenance are all mandatory!  It's an investment to you, treat it like one.  It's a home to your renters, so if it's sub-par, they aren't going to treat it any better than the way they find it on move in day.

I fully agree with Eric C.  Traveling to a property for a no show drives me nuts so I now only do open house showings.  A follow up dedicated showing to an interested prospect, especially if they want to show it to their 'other', is always a go.

John, unfortunately some states give rights to unnamed residents.  Florida comes to mind. It took six months to get someone out of property that was 'using' a bedroom and having mail delivered but didn't have any sort of lease. The owner had to be removed to a nursing home and the squatter just stayed on.  There are others.  I'm in Ohio, where my properties are, utilities are prohibited from disconnection because of state disconnection laws.  To be prudent, each situation needs researched.

try this firm.  at min you'll get a free phone consult and cost estimate. https://www.bradburyfirm.com/p...
Also avvo.com if you want a list of choices from a different zip code in Phil.

Jermaine....first, I'm not your dude.  Legal language is the basis of the business you're in.  That's why a contract is in place.  Lawyers do two things for you...keep you from trouble and get you out of trouble.....getting you out of trouble costs a lot extra.  Good contracts keep you out of trouble.