All Forum Posts by: James Mc Ree

I agree with the prior comments.

In addition, check your local town's building codes specifically for the definition of a bathroom. It may specify the minimum size you need, but that is applied to new construction and renovations. I haven't seen something like that applied retroactively. Ask the town when the ordinance was adopted if the size is specified and is bigger than yours. It is very likely the ordinance is newer than your property which very likely makes your property grandfathered.

I wouldn't push too hard on trying to screen the tenants. It is more important to know they are paying rent on time. They are protected from eviction until at least the end of the year, so be sure to check rent payment history.

I agree with @Kenneth Garrett.

Roof - It's old, but still working. Call a few roofers to assess it. They may find a place to patch that extends life and can give you a quote to replace. Save to replace.

Furnace - Old furnaces can keep working great. There aren't a lot of moving parts in them and usually few electronics. The most I would do with it is have it serviced to ensure it is operating as well as can be, but I would also hesitate that the technician might break something. Doing nothing with it is fine, but save for a replacement. You can get quotes for this too.

Crack - Ignore it if there are no bugs or water coming through it. Get crack patch/sealant at HD/Lowes if it is bothering you or needs repair. Concrete patch would be used for a wide crack.

Check for federal, state and utility aid programs for a new roof or furnace, especially for unemployed/furloughed people. 

Title is the same regardless of initial purchase or refi with/without cashout. Ask them. It seems like an impossible situation that they must have a solution for.

You should establish an easement so each property has permission for the water line to run where it is. Also establish a maintenance agreement for who pays when the water line needs maintenance or replacement.

I would pursue separate meters. Looking ahead, I would not want to be receiving a water bill for 7 properties I don't own, then having to plead with each owner to pay the bill each month. It is not clear what recourse I would have if they declined, such as the scenario you describe of the running toilet. You might need to establish an agreement in advance for this and record it with the deed. Consult an attorney if you go this route.

You should ask your title company how they insure any out of state investor buying their first investment property in Texas. The answer to that question is probably your answer since it would solve the homestead dilemma.

You may be able to claim the carpet is well past its useful lifespan regardless of the dogs. The conditions you noted support that position. IRS 2019 Publication 527 page 9 cites carpet in a residential rental property as having a 5 year life span for depreciation purposes. The landlord probably won't appreciate this argument, but it might help you if you go to court.

Check your lease as it should specify this. My leases say payments are applied in the order charges are incurred and that tenants may not payments are only for a certain charge or type of charge, such as "for rent only." A clause like this keeps the tenant from avoiding late fees and other charges simply by paying the current rent.

If unspecified, I would specify it in an amendment to the lease and either ask the tenant's preference or default to whatever is most favorable to the tenant. That would probably be paying off the oldest rent first depending on your late fee policy.

It's only mattered in my situations for late charges or other tenant-responsible expenses. I can't evict for non-payment of late charges, but I can for non-payment of rent. I had a tenant who thought she wasn't going to pay late charges, so she would write on her check "for rent only". I pointed to this term and showed her that $200 of her payment went to late fees, $800 went to rent and she still owed $200 rent, which was now late. She was not amused, but got the message that she wasn't more clever than me, at least on that day.

Have you been changing the a/c air filters? That's an easy fix that will increase flow if you haven't been doing so.

Assuming the landlord is responsible for maintenance, ask the landlord to schedule an HVAC service company to evaluate and tune the a/c. An HVAC technician can verify the system is running properly or needs a fix. Incoming air should be cooled about 17 degrees compared to air coming out of the unit. If that is occurring, the unit itself is doing what it is supposed to do.

If there is a problem, the technician can recommend a fix and an estimated cost. Ask your landlord to pay for that since your lease probably includes working a/c (check that). The technician's finding that the a/c is not operating properly gives you the evidence you need to compel the landlord to honor the lease. Hopefully, it is a straightforward fix and replacement is not needed. Either way, the lease is the vehicle to get the cool air. Your landlord can't legally say "No" if the lease entitles you to a/c.

Check your lease. If it is a standard lease, it probably contains language to the effect the lease remains in force if the property is sold with the same terms and conditions. The buyer will be required to honor it.