All Forum Posts by: Donald S.

Honestly TenantCloud sounds better, more robust, but I'm already setup with Cozy, so transporting everything over seems like a PITA right now. Maybe on my next property I'll use TenantCloud. I didn't know it had all those features though, wish I had known before deciding on Cozy. 

Although I will mention I do like Cozy, very easy to use, and if you're not in need of the accounting part than it seems like a good platform. I do my own accounting so that's another reason I'm not concerned with porting my Cozy to TenantCloud. 

Garage rental income is awesome. As long as you get a tenant who won't be destructive, or doing illegal things there, it is as easy as it gets. We have a guy who does bouncey houses as a side business and he stores all of his equipment in the garage. It's a great setup and the extra income with little to no maintenance needs adds up quick. As long as the roof, doors, and lights (if you have a powered garage) work than you're good to go. 

I would stick with a metal roof. If done correctly you'll never have to worry about it, just make sure all the penetrations are flashed appropriately so you don't have leaks seeping in. Make sure you check with your local laws on what requires permits etc, in my area permits aren't required for roofing unless you have to remove more than 25% of the sheathing. I've never installed the metal roofs, but plan on going to metal when I need to do a roof replacement next (except on my personal house, that thing is getting a tesla solar roof lol). 

Thanks Jon, when I talk to the bank manager I'll ask if they can tell if the checks been cashed. And yes, any fees will have to come out of the refund since it wasn't my fault they threw it away. 

Hi Everyone, 

I sent a tenant their security deposit back through the mail, certified mail, with a cashiers check after they moved out. I received notification that it was delivered, and a text from the tenant saying they had it. 2 weeks later (yesterday) I get a text saying they accidentally threw the check away, and they want to know what (if anything) I could do. For some background, this tenant was a real pain in the neck inherited tenant and we were glad to see them go, and gave them a full return of their deposit just to get them out without troubles. I wouldn't put it past them to be lying in some attempt to double dip. 

So I'm asking, what are my obligations, if any in this situation? I called the bank and they said I'd have to call back later and speak with the manager to see if they could do anything, since it's a cashiers check the money's already come out of my account. 

Thoughts?  

@Joe Senchuk, I'm confused. You thanked me for not being condescending at first and then went and said, multiple time, I had offered condescending remarks. I was not trying to put you down so if you felt that way, then I guess my bad. 

@Benjimen Elliott Johnston, pretty sure doing either of the things you suggested are illegal, and would result in real problems for a landlord doing such.  

@Mindy Jensen I think this is a great add on to the calculators. I would like to suggest also having an option of including or excluding Capex from NOI calculations on the buy and hold and BRRRR calculators. There's a big debate on where it should fall, and this option would allow both sides to have what they want.

@Thomas S. I want to travel to Ontario just to buy you a beer every time I read one of your posts. @Joe Senchuk, Thomas is right, you don't have to be a hard ***, just be professional. You've been in the game long enough it seems to know that you should've stuck with the long term tenant 6 months ago and avoided all of this. Also, I'd brush up on your area's landlord-tenant laws if you had to come on here after 11 years to ask if you could just walk in and take possession back without an eviction, against the tenants will. 

Good luck though. Let us know what happens. 

wow, I was going to say, I have my own accounting spreadsheet I made with a general ledger and journal and T Accounts (if you've taken a basic accounting course you'll know what that is), but @Megan Greathouse that template is super easy and clean. Now I'll have to decide which is better. Although mine does populate a trial balance and balance sheet automatically also. I'll have to try this one out. 

@Joe Splitrock I'm not saying to just take them at their word. If you are willing to accept dogs, like I am, then I need to be able to distinguish between the different breeds (even though "breed" is a misnomer) and I do pet interviews and of course have to discuss with the insurance company on risk. As for your "nice little story", I can find 100's of stories of the pillar of the community who killed his whole family, or was a secret sex offender that hadn't been caught, or a million other things that don't prove any point. Anecdotal evidence is the easiest thing to come up with, but is not proof. 

But I'm getting off topic. I'll contribute more when I have a story that meets this thread.