All Forum Posts by: Jeff Copeland

To clarify: Did she leave "everything" behind like she hasn't moved out at all? Or just the junk she is not intending to take with her (which is extremely common)?

My money is on 1) She will not remove her stuff, 2) She will not respond, and 3) She will not pay. 

If you operate based on those assumptions, figure what you need to go to get possession. There are generally three ways: Surrender, Abandonment, or Eviction. Your state laws will dictate the definition of each. 

A lot will also ride on what your lease says (if anything) about abandoned belongings: Your tenant gave notice that she was vacating on August 18th. Today is August 19th. Her lease has now expired. What does the lease (and your state law) say about removal, storage, or disposal of abandoned possessions?

To be clear: The ultimate downside risk is that the tenant comes back and sues you for her $20,000 worth of jewelry and $10,000 worth of heirloom china that she claims she left behind. That's why the first thing I suggested you do was contact an attorney in your state and understand the risks. From there, only you can decide how to proceed based on how much risk you're willing to accept (versus how much vacancy you're willing to eat).

But you can't just leave the unit sitting empty for the next six months. You'll have to decide on a course of action, then implement it. 

Full disclosure: I am not an attorney and you should definitely check with one in your area before doing anything. But also keep in mind there is often a "perfect world attorney answer" and a "real world landlord/PM answer", and you have to figure out what the risk is and if it's worth taking possession of the unit. 

But it seems to me that her lease has expired so she no longer has legal possession. 

An option to consider: 

1. If at all possible, get her to tell you in writing she has vacated and surrendered possession. Keep hounding her for this. Make a documented good faith effort to communicate with the tenant (and keep these records, screenshots or whatever). 

2. Document the condition of the unit after lease expiration with pics and video. 

3. Inventory her stuff carefully and put it in storage in case she comes back for it (she probably won't). 

4. Send her any required notices (claim against security deposit, etc), change the locks for real this time, turnover the unit, and move on.

You should be able to charge her (and claim against her security deposit) for removal, disposal, or storage of her personal items, cleaning, damages, etc.

(Pro Tip: The security deposit is often great leverage to get them to respond to you: "Hey, Tenant. I just need to get your forwarding address so we can process your security deposit refund" will often get a quick response!)

If I had a penny for every item tenants left behind when they vacated, I'd already have the financial freedom through real estate we're all seeking!

You might be surprised. Often they'll tell you, "We're so sorry, little Johnny hit it with a baseball bat. We know we have to pay for it". 

Otherwise, you need to make sure you documented the condition of the window before they moved in. Pics and video are always a best practice - Just assume ahead of time you'll have to convince a judge (because in some cases, you will if it becomes a security deposit dispute, which is one of the most common reasons landlords and tenants end up in court) what the condition was prior to move in, and what the condition was after.

If it's clearly something that could only have been caused by the tenants and you can prove it, you're in the clear. If there's a reasonable doubt that it could have been a tree or a lawnmower or anything else, you're not. 

Windows crack. Sometimes it's the tenants' fault, and other times it's the cost of doing business. 

My first step would be to ask them what happened to the window. 

It depends 100% on what your property management agreement states. 

That being said, you may not be seeing the big picture and there may be valid reasons for waiving the rent and avoiding charging the tenant for things that you can't prove to be their fault. Especially if the property isn't/wasn't habitable.

One call from the tenant to code enforcement can cause you month's of red tape, bureaucracy, hearings, and expenses. 

And in many jurisdictions, the tenant has the right to withhold rent, pay in into court registry, and force you to convince a judge that the property was safe and habitable and you are entitled to the rent, and it could take months just to get on the docket.  

I obviously know nothing about your property or your tenants, so this may not be the case. 

But you seem very focused on what they did and whether they were allowed to do it, rather than why they did it. Have you asked them why?

They could have been using their experience and expertise to save you $10,000 in lost rent and legal fees. 

(On the other had, they could just be terrible PMs. I'm just playing devil's advocate)

I you have sufficient credit and income, and the patience to deal with the application and underwriting process, a conventional cash out refinance into a 15 to 30-year fixed rate loan will get you the best terms, at 75 to 80% max LTV.

Leasing the property to a tenant is not selling the property. You can't exchange a property that you still own.

But for a deeper dive into your options (no pun intended), I call upon resident 1031 guru @Dave Foster

We actually see the same pattern even here in Florida, where it obviously has nothing to do with the weather.

I've always chalked it up to the "back to school blues", coupled shortly thereafter with "oh my God the holidays are almost here". Of course the weather adds a real death punch in many markets up North, but the annual market cycles exist even in the South. 

"Cash is King" is 100% true, at least in the context of sellers looking for a cash offer, and the fact that financed buyers simply cannot compete with cash offers in the vast majority of cases. 

Interestingly, I'm seeing firsthand (as in literally today) properties that sat on the market for the past 3-4 weeks during the great inflation scare of 2022 get snapped up with below-asking-price financed offers. These same properties would have sold for cash, above asking, in three days 6-12 months ago. 

There are opportunities out there right now. 

And always remember, there is always a cost to doing nothing. It is not free. 

Hey @Steve Kordish - Long time no speak!

I'm not even 100% sure they service Pasco, but call Old Time Roofing in St Pete, ask for Jacquie, drop my name, and see if they'll help you out. 

I do a lot of business with them and sometimes they'll do me a solid.