All Forum Posts by: Kyle Meyers

I am sending a pay or quit notice by certified mail and a second copy by first class mail. Should I get a return receipt on the certified mail? Without it I would still have the online information from the USPS that it was signed for and delivered, but wouldn't have a copy of the signature.

Also, does anyone know a good way to send certified mail without having to go to the post office?

I charge a late fee the day after rent was due, then daily fees after that. Most my tenants pay monthly, and the Buildium late fee platform worked well for that, but doesn't work with the bi-weekly payment.

When I had the trial a couple months ago, it would not allow me to assess a late fee if the due date was not the same date each month. In my case it was a tenant who pays bi-weekly. They allow me to set up the rent being due bi-weekly, but the late fee assessment structure was set up differently and didn't support that. I had chatted with Buildium support and I also added it as a suggested feature through the platform they have for that. I want to use Buildium as an accounts receivable ledger and payment collection service, which it is set up great for except for this flaw.

IMHO you need to leave your cousin out of it. If you actually have the legal ability to sell just your portion of the home, sell it at whatever price you can get. Do not talk to the prospective buyers about your cousin and the problems he is causing you.

I am not an attorney, this is not legal advice.

Thanks Anthony. I have been considering Buildium, but have one issue with the way I can configure assessing late fees so I have been waiting.

Jerry,

I am not an attorney, but I believe if the property is not abandoned, which I would not consider it to be if they have furniture in there, you must get the resident out before you can take possession of the property.

Anthony-

Does Buildium work on your iPhone now through the website?

I had been under the impression that it was rare here as well. I may have just happened to get a fluke batch last year.

A few follow up questions:

1. When assigning an operating expense or depreciation expense which will apply to all my properties, can I split it up between properties? Or does the entire expense have to be assigned to one property?

2. Can education expenses be assigned to a property as well?

3. Does real estate education time count towards the 750 hours for the RE professional status for the IRS?

Once again, thank you so much for your help with these questions.

In Indiana, the amount bid over the minimum bid is called the overbid and goes into the tax surplus fund. When a property is redeemed, this amount can be claimed by the winning bidder. If the property is not redeemed and a tax deed is issued, the former property owner would be entitled to the overbid from the surplus fund. I am not sure, but I would assume if there was a mortgage on the property the mortgage holder would have some entitlement to the overbid as well.