All Forum Posts by: Maria D'Aura

I haven't actually seen the part number or any paperwork. It's only gone between the warranty company and the service provider. I will ask for it tomorrow.

I have a home warranty on a duplex I recently purchased. The tenant reported the A/C wasn't blowing cold air. I setup a service request with the home warranty and they sent out a local repair company. Repair company said it needs a new compressor. 

The warranty company and not the local repair company orders the part. The warranty company said usually this takes a few days, but currently there is a part shortage so it's taking longer. It's been a few weeks at this point. Last week the company said they don't expect it to take longer than a month, but can't say exactly when they'll have the part.

I know last year there were shortages on appliances and other items. Anyone know if A/C compressors are currently in shortage? This is my first time using a home warranty company and I'm trying to gauge if there is a legitimate shortage and delay with parts or are they intentionally delaying getting the part, could they find it through another source, etc...

Googling tells me this is an expensive fix so I feel stuck waiting on the warranty repair, but the tenant is not happy waiting either.

Hello,

I recently established an LLC and am looking for recommendations for opening a checking account for the LLC. This account is primarily for depositing rent fund. Many of which are paid online, but there are a few that mail checks.

Looking for banks that have good online technology, mobile deposits, easily transfer funds to external account, and won't hold funds for weeks. 

Without doing much research I opened an account at a local bank and it has not been a good experience. They insist on holding all deposits made on the mobile app for 9 business days, really 14-15 if you include weekends. They are even holding a cashiers check which I can't even wrap my head around how that is legal. When I asked them why they would hold a cashiers check they asked me why I needed the funds and what I was going to use them for. Again, can't understand how they are even asking me this question. I asked them if the also have a 14 day hold for cash deposits? 

Anyway, I'm looking for a bank that operates like it's 2021 and not 1981. Also, one that doesn't have excessive monthly fees or high $ to open the account since I currently have funds being held hostage.

I’ve tried to find the answer to my question online, but can’t find anything with a clear answer.

Situation is this. Say an owner raised rent in January, then sold property in July. Assuming the previous owner raised the rent the maximum allowable amount, does the new owner have to wait 12 months from previous rent increase before raising rents?

All tenants are currently month to month and rents are significantly below market.

I'm buying a multifamily with long term tenants currently month to month. All want to stay and I'm planning to offer new leases once the deal closes. However, one has a near hoarding situation going on. I'm looking for advice on the best way to handle the situation. There are some repairs I plan to have done and it will require they clear some areas in order to have the work done. Any form letter I can use stating it needs to be cleaned up for repairs and before a new lease will be offered.

Require copies of the existing leases, even if they are month to month. It should indicate on those how much the tenant deposits are. Let the escrow office know the amounts so they calculate it into the final settlement statement and the deposits are transferred to you asn the new owner. It's also a good idea to require the owner provide estoppel certificates for each unit. It will indicate the rent amounts and deposits with tenants signing that they agree it is true and correct. This protects you in the future so tenants can't say they had a $5000 deposit when it was really $500. 

If you have a CPA who's amazing, answers your many questions, discusses your options, plans for the future, and doesn't just do your tax prep... please send me their contact info. 

I'm in California, but I understand it's not necessary to have a local CPA. I want to get connected soon so I'm not scrambling when tax time comes around next year.

I've been using cozy.co , but interested in looking into what else is out there. 

I'm looking at Tenant Cloud and RentRedi. What else should I consider?

What city specifically? I know a few in the Tri-Valley and in the Brentwood area I'd recommend.

@Drew Sygit The same way I have always done them. Advertise a date and time (2-3 hour block) where anyone can come see the place. If they like it they can submit an application.