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All Forum Posts by: Karen A.

Karen A. has started 0 posts and replied 41 times.

Post: How to find previous landlord phone number?

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

I got a fake landlord reference once.  Luckily I figured it out before I even called (online research as someone else suggested.)  But I thought I'd have a little fun.  I called the number and introduced myself.  The person immediately launched into spiel of praises for these tenants, without me even telling her who I was calling about.  I let her finish, then started asking her questions about the house that owner should know (address, how much rent they were paying, etc.)  She didn't know the property address, and gave me a wrong rent amount.  When I asked her why she didn't know the address, she made an excuse about owning "so many properties."  So I asked her why her her name wasn't the same as the owner's name on the tax records.  "Oh, I meant to say that I MANAGE the properties, I don't really own them."  So then I asked her what property management company she works for.  "I don't work for one, I do this on my own."  OK, well then I'm sure you know you need to be a licensed real estate broker to do that kind of work in Florida.  What's your license number?  Silence.  I started asking her another question that I knew she didn't know the answer to, and she hung up on me.  Loved every second of that phone call!  Application DENIED!

Post: Acquiring Bradenton SFR via quitclaim - what would y'all do?

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

I agree with Mr. Soper; the area that you're describing is a low-income neighborhood.  That's something to keep in mind especially if you're doing renovations.  For example, you would not want to put in the highest-class finishes because the neighborhood will not support a return on that investment.

Post: Should we all be concerned about this?

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

@Elise Hazzard,  Most of them work a corporate office job, although the wife of one couple is a teacher.  Another couple is in healthcare, and another guy sells/services residential water treatment systems.  It's all over the board, really.

Post: Should we all be concerned about this?

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

Over the last 2-3 years I've had about 7 friends/co-workers buy houses in my area.  I've been shocked to see that for a down payment, they're putting 1.8% of the purchase down.  Is that all that lenders are requiring these days?  Only 1.8%???

Post: Investing in Destin,FL...Advice?

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

Other factors in the price of insurance is whether the exterior walls are block or wood (wood costs more to insure) and whether or not the roof connections have the "third nail" installed.  The inspector who does your wind mit can tell you that.  If it doesn't, there are companies who do that work.  In my experience, it pays for itself in 2 years.

Post: Tenant wont sign the lease

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

@Bob B. I couldn't agree more.  The owner is doing the tenant a favor by renting it to her for under market value.  As an owner, I expect the same communication, respect and common courtesy from my tenants that I give to them.  When that stops happening on their end, the relationship needs to change.  It's not "aggressive" or "confrontational," it's being fair, but firm.  You don't need to spend a lot of money getting a lawyer involved at this point, because there are steps you can take right now without needing one.

If you are concerned about your tenant's physical well-being, you can have the local sheriff do a wellness check.  It's Florida (lots of elderly people here); they do it all the time.

Assuming she's fine, I'd send her the 15-day non-renewal.  If she is not respecting you as the owner and communicating with you now, things are not going to get any better by sending her lease papers.  This relationship seemed to have soured after closing and probably can't be salvaged.  Send the notice by regular first class mail, certified mail and have someone local post it on the door in a conspicuous place (put it up with good heavy tape & protected from rain or covered with plastic) and take a picture of it for your records.  (F.S. 83.56(4)

You can have your contractor go in for the mold remediation or any other maintenance you need to do for the "protection or preservation of the premises."  Follow the guidelines in F.S. 83.53.  If the tenant is not communicating with you, that falls under the "tenant unreasonably withholds consent" clause and you can post a notice on the door at least 12 hours in advance.  Follow the same posting guidelines as stated in the previous paragraph.  The contractor can then enter between 7:30am and 8pm to get done what they need to do.

After the 15 days are up and she's still not out, then you need an attorney to start the eviction process for holdover.  If you go this route, you'll have to stop accepting rent payments too.

All of the Florida Statutes are online; I have them bookmarked and consult them as necessary.  The ones that deal with residential tenancies are listed under Title VI, Chapter 83, Part II.  

By the way, it is not in my nature to want to do any of the things I just listed in this post.  I wish everyone would do what they're supposed to do, keep their word on agreements (verbal and written) and be good, fair and honest with each other.  Unfortunately this is not how the world works, and over the last several years of being in this business I've learned the hard way.  Yes, it's disappointing, but ultimately it's your investment and you are the one responsible for the property.  Since being in Florida, I've noticed that a lot of people here (tenants/ friends/ neighbors) have lots of opinions & suggestions on what I should do with my properties but yet have zero invested in it themselves.  Take the lead do what you need to do to manage your property the way you want to.  

Post: Tenant wont sign the lease

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

Per Florida law, if the tenant pays monthly she's on a month-to-month lease.  For month-to-month leases you only need to give a 15-day non-renewal notice (refer to F.S. 83.57).  If she's not out in 15 days, you can evict for holdover and get possession back.

Post: BRRRR with tenants in place

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

In Florida:  If the tenant is on a month-to-month lease the legal notice to non-renew is 15 days.

Post: Looking to connect with investors, agents in Manatee/SRQ counties

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

PM sent with a recommendation.  

Post: Sales Tax on Rental?!

Karen A.Posted
  • Rental Property Investor
  • Bradenton, FL
  • Posts 41
  • Votes 28

I can "second" Wayne- no added tax if the residential unit is rented for more than 6 months.