All Forum Posts by: Dennis McNeely

He keeps 1/3 of any amounts he collects, and passes through any expenses he incurs - such as service fees, filing costs, etc. He does not charge any hourly fee. He does not handle evictions themselves, just the collections.

It's been nice to cut him loose on deadbeat tenants, and get back payments over time for judgements against them. He has 20 years or longer that he'll keep after them, and knowing he's doing so warms the cockels of my heart :)

I have someone that collects small accounts for me here in Michigan where he's licensed as an attorney, but I don't know if he works in other states. You can try giving him a call - Michael Goethals in Royal Oak, Michigan. Unfortunately I can't post any contact information, but perhaps you can hunt him up.

I have no association other than being a satisfied client.

Good luck going forward!

You should run this idea past an attorney familiar with land trusts, but you can put the ownership of the property into a land trust in which all three of you are beneficiaries, with each having the same ownership interest as they have now. You'll need to find a trustee to be in charge of the trust and who takes direction from the beneficiaries. One of the siblings then buys out the others' interest in the land trust - but nothing of substance is recorded at the county. No taxable event results, and the assessed value of the property remains unchanged.

Please keep in mind that all the above is what I gleaned from some classes I recently took on land trusts, and not from my having actually made such an ownership transfer. Further, you may have to hunt a bit to find an attorney that's familiar with land trusts. Lastly, it goes without saying that I'm not an attorney.

I hope this puts you on the right path! 

Hi Darrell - I have a flat right down the street from you, in Wyandotte. I started an eviction a month before the Covid moratorium went into effect, and it still took Judge DiSanto at the 27th district court 13 months to evict the tenant. I hope you're dealing with someone else!

One other thought - I've successfully added a clause in the lease that indicates if I have to go to court and get a judgement to collect money for anything, the tenant is on the hook for 7% per year interest on that amount.

When I say I've "successfully added" the clause, I mean I've had a tenant-friendly judge issue a judgement against the tenant, noting in the judgement that the tenant owes the interest too. Eureka!

It adds to the tenant's pain, and reduces mine.

@Bill Brandt called it Moss - start the process now. Eviction laws vary widely across the United States, but one thing they all seem to have in common is that they take time. Here in Michigan, I have to give them a 30 day notice - then I have to wait.
Make it happen now!

My lease tells the tenant they should let me know if they are moving out at the end of the lease 60 days in advance, and that I intend to give them a formal 30 day notice to vacate the premises when we're 30 days from the end of the lease. I tell them it's just a formality, even though it is ordinarily the beginning of an eviction process.

In the lease they give me the right to advertise the unit for lease 30 days in advance online, with a yard sign, and with a sign in the window. Lastly, they give me the right to show the property during that final 30 day period, as long as I give them a 24 hour notice. BTW, that also gives me a bit of insight into their progress as they pack up and leave, and any damage they may have caused.

As with most things relating to landlording, your mileage may vary :)

Just be aware...

If the tenant decides to contest the charge and the matter ends up in front of a judge, you may be asked a couple of things:
  - did you file a police report?
  - do you have proof the tenant damaged the door?

Do you have any video of the damage being done? You can also ask the tenant if they filed a police report. If not, why not?

Yes, this goes well beyond the cost of a security deposit, and it's far from being "normal wear and tear", but things get squirrelly if you have to go to court, so prepare for that eventuality!

When I'm evicting tenants from a unit, I always put the tenant's name and the words "and all others". It can be a drag to evict a tenant by name, only to find out someone else moved in and is squatting - and will need to be evicted in a separate action!
Consult an attorney, but you may be able to evict them using just the language "all others" or "everyone" when evicting someone.
If the Realtor indicated the unit was vacant prior to closing in writing, I'd also talk to the broker (not the salesperson) at the Realtor's office and let them know you expect them to make it right by you, or that you'll have to talk to the Board of Realtors and / or the state's licensure office about the matter.
Good luck!

Some thoughts:
- avoid any lender that is asking for a fee before looking at your deal. This is a fairly good indicator you're about to be scammed.
- collect information from them regarding the terms they offer to make money available. Is your deal too big (or too small), what areas do they lend in (geographic and type of loan), what are their interest rate, amortization, and payoff terms (when is a balloon due and is there a prepayment penalty), what are their closing costs and requirements, etc. Put it all in a spreadsheet for you to evaluate, and for future reference.
- ask them if they can offer some references for deals they've done in the past. Ask here to find out if anyone else has had dealings with them.
Good luck going forward!