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All Forum Posts by: Andy M.

Andy M. has started 2 posts and replied 11 times.

Post: Where does the 50% rule come from?

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

Sounds like a fast talking guru to me. It his example:
Annual Rent - $21,660
Annual Operating Expenses - blank, blank, blank, blank .... ummm...hmmm...ohhh - $7,812

7,812/21,660=36% - Failed.

Originally posted by George P.:
thanks Will
I found a great video that explains it in details
http://www.youtube.com/watch?v=N7lLvkzl6ow&feature=related

Post: Eviction in Broward County, FL - Part 2 - has anyone been through this?

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

I have no personal experience with evictions so what I say is from research. Here in California, once you serve the 3-day notice and you did not get paid by 4th day, tenant is in default. You don't have to accept rent after 3rd day and can proceed with eviction. So if FL law is similar, its to late for paying rent now.

Ok so she did Answer, and if it was done properly then it sounds like you will get a court date now. I don't believe paying rent dismisses the case once summons was issued.

Here is copy/paste link
"If you stay beyond the three days without paying the rent that is properly due, you will be occupying the rental unit unlawfully. The landlord then has a single, powerful remedy: a court action to evict you and recover the unpaid rent (called an "unlawful detainer [eviction] lawsuit" [see The Eviction Process]). Your failure to pay the rent and to leave promptly may also become part of your credit history, which could affect your ability to rent from other landlords."

Post: "Are you the owner?"

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0
Originally posted by Mitch Kronowit:
Originally posted by Bienes Raices:
My state law says you have to put your real address (not P.O. Box) on the lease.

We have that law in California as well. But since I hold our properties within an LLC, the address on the lease is that of my resident agent, not me.

Can you point me to this law in California, online possibly?

Most I talked to say to not give out you primary residence. You don't want your tenants stopping by your place. If you manage your property yourself then you are the PM.

How about answering the topic by:
I will be your PMer, but I do know who the owner is.

I think the less info your tenants know about you the better.

Post: How bad is this lease agreement?

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

I called the Building Code Inspections and was told you are not required to go GFCI in the kitchen if its an older building, unless you are doing major remodeling/electrical work or replacing the receptacle. Replacing the disposal or other appliance is allowed without permits and this does not trigger the new code requirement.

I also looked up the code:
8-904.2.2 Ground fault circuit interrupter (GFCI) protected
receptacles shall be installed where replacements are made
at receptacle outlets that are required to be so protected by
the regular code in effect at the time of replacement.

I do think its a good idea to get you buildings up to code in order to minimize risks of liability down the road.

On similar note, we have some old apartment complexes that have ungrounded electrical outlets (missing 3rd hole) that are operating. They even pass Sec 8 inspections.

Post: How bad is this lease agreement?

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

Thank you all for great advice and some clean humor.

The landlord thanks you all but still hesitant to take action because the tenants had a kid recently. I gave him the speech about how to act and be a fair professional LL that I read in many posts on this site.

But the story just keep getting worse. It seems the LL did get a promissory note that says tenant agrees to pay up to $150 for a new toilet on the last day out of the security deposit. Oh and they didn't filled out rental application. Talk about knowing the person.

On top of the garbage disposal, tenant requested GFCI be installed around the kitchen sink.

@Shantee Haynes,

1. Yes, if its the tenants fault, you can deduct from rent.

2. The basic requirements and steps for using the repair and deduct remedy are as follows:

1. The defects must be serious and directly related to the tenant's health and safety.158
2. The repairs cannot cost more than one month's rent.
3. The tenant cannot use the repair and deduct remedy more than twice in any 12-month period.
4. The tenant or the tenant's family, guests, or pets must not have caused the defects that require repair.
5. The tenant must inform the landlord, either orally or in writing, of the repairs that are needed. (See "Giving the landlord notice".)
6. The tenant must give the landlord a reasonable period of time to make the needed repairs.

What is a reasonable period of time? This depends on the defects and the types of repairs that are needed. The law usually considers 30 days to be reasonable, but a shorter period may be considered reasonable, depending on the situation. For example, if the furnace is broken and it's very cold outdoors, two days may be considered reasonable (assuming that a qualified repair person is available within that time period).

Post: Late payment fee collection

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

Aly,

FL might have the same loophole as CA does. Say tenant pays the rent within the 3 days, you can't evict. So how do you collect the late fees then?

Some say late fees are illegal is CA.
http://www.caltenantlaw.com/LateFees.htm
Found this article thats talks more about late fee collection.
http://www.jcc-law.com/lawyer-attorney-1415961.html

Thank you all for responding.

Post: How bad is this lease agreement?

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

Good day to all,

I was asked by a local landlord for some advice how to deal with a tenant he is having problems with. At the beginning of the month of May tenant replaced a toilet without a landlords permission. The tenant did give a verbal notice about it not flushing fast enough. Three weeks later the Tenant hired a handyman and had it replaced. That month tenant withheld $500 from $1200/m rent. The house has two bathrooms so the landlord thought he would fix the problem first week of June.

Two days ago the tenant called and said the garbage disposal is not working and told landlord that if its not fixed by end of the month he won't pay rent at all.

Landlord used the attached lease and according to him the Term Start date is April 1st and the End date was left blank.

What are you opinions? Is this a month to month or is it a 12 month term now due to Renewal term provision?

http://files.myopera.com/flagmax/files/lease1.jpg
http://files.myopera.com/flagmax/files/lease2.jpg

Landlord wants to know what to do.

P.S. There was not background/credit check done. Got a good reference from tenant parents.

Post: Late payment fee collection

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

@Mitch,

Maybe you can look it over for me? http://www.dca.ca.gov/publications/landlordbook/terminations.shtml

Post: Late payment fee collection

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

@Marc,

Sounds reasonable. Does your lease state something like Any outstanding late fees will be added to rent payment which will valid for that month?

@Jim,
I think in Cali its a little different. On 3 day notice we must accurately state the amount of rent that is due BUT can not add late charges. So if tenant pays just the rent, you can't evict it seems. So maybe next month could be new rent that includes last month late fee.

Post: Late payment fee collection

Andy M.Posted
  • Real Estate Investor
  • Sacramento, CA
  • Posts 11
  • Votes 0

Hi all. This might be an obvious question to most except me.

Rent is due on the first of every month. On the 5th there is $35 late payment fee according to the lease.

So I would give a "3 Day Notice" to the tenant. According to Cali Landlord book The landlord's notice is not legally effective if it demands more rent than is actually due, or if it includes any charges other than for past-due rent (for example, late charges, unpaid utility charges, dishonored check fees, or interest)."

Q1: So how do collect the late fee and when?

Q2. If tenant is late every month but pays within 3 days, what can you do?

Thanks in advance.