All Forum Posts by: Carlos Enriquez

The law is that if they pay in full before the sheriff shows up to bodily remove them, we have to accept the payment and cancel the eviction.  He's done that 3 times now!

I forgot to say that he's on a year lease which expires in April.  I will not be renewing the lease.  But I was told that if he does it 3 times in a row, that I don't have to wait for the lease to expire.  Is that something someone else has heard?

I was told by a prospective PM that after 3 consecutive late rent payments, I don't have to accept the next rent payment and that the tenant can be evicted as a rule.

The inherited leases state nothing about that.  The tenant has been late for August, September and now October.  He ends up paying rent, attorney, and late fees just before the eviction qualifies for the sheriff.  I was told we have to accept and cancel the eviction.

Can I refuse the rent after 3 lates and evict?

I'm planning on purchasing more real estate in the near future when I sell my commercial building, and would like to talk with potential future property managers in the Kirkland, WA area.

I've been referred to the big companies and certain real estate broker offices as well, but it seems their fees are all over the place.  I have a PM handling my only duplex so far.  My  attorney uncle told me that he likes to use different PM's for different properties, and recommends that I do the same and consolidate in the future, so I will try that for now.

Which of you manages properties, or can recommend PM's?

Thanks.

My PM will charge a renewal fee whenever the lease is up.  He also charged for inheriting two current leases from the previous owner, but at a lower fee.

From what I understand, this is normal.  But they won't tell you that.  You'll have to review your contract with them word by word.  If it's not in there, then you gave a legit grievance.

I applied to a similar company and they did a soft pull in their own.  But they charged simple interest which I didn't want.

I'm a veteran so I use USAA, but whatever company you use, ask them what their criteria for insuring is.  My insurance company actually sent out an "appraiser" to determine replacement cost, and that is what my policy premiums are based on.  I had no choice in the matter...they use replacement cost as their criteria.

I was going to do that. In my case, I had the HELOC, and was going to pay it off early when I sold my commercial property. The deal fell through, so I didn't use the HELOC option, but my commercial property is still listed, and when it sells, I will use those funds for a 1031 as the DN (won't have to pay it back!)

Don't know if I would have done so had I not had a means to pay it off early.

Albert Ng, you're kidding, right?

Where's that photo of the guy palming his forehead when you need it?

I read somewhere that a tenant pleading for you to rent to them is a red flag!

You can PM by colleague request.