All Forum Posts by: Mike Hourihan

@Johnathan Walton what kind of car?

@YiBing T. yeah I read that the other day. Crazy times indeed! Are your tenants current on rent? I have one who is a little over a month behind, but not due to COVID. I dont think he intends to stop paying though

@YiBing T. Russell just answered the question as to the local law and I do use a standard lease. If a tenant has been very reliable and always pays on the day they tell me they will, I would probably give a few more days before charging a fee and filing. I am very reasonable and understanding of people's situations but I'm also trying to avoid being taken advantage of for being nice. I think you have to find a good balance between being nice and being firm.

One of my rental condos has a small balcony and some bats have made it their home and are pooping all over the balcony and the tenants are complaining.   I called the condo office and asked them to send their maintenance guy to check it out and bill me.  Didn't hear anything for a couple weeks and now the tenants told me they had put something there to repel the bats but it didn't work.  I googled this and was going to try one of the common solutions which is hanging a sock with moth balls, but my tenant said she already tried that. Other repellants I've seen online are Phenol and peppermint oil.  There are people who trap and move them but that will probably have a higher cost and there are laws regarding that as well.  Trying to find an effective, legal, low cost method of getting them to go away.  Looking for suggestions based on ACTUAL EXPERIENCE.  I can google myself, so please don't suggest anything you've only read about online. Thanks!

@Basit Siddiqi my tax client rents his basement and a room on airbnb and i file schedule c on his personal return so the income shows on D40 as rental income. is he therefore exempt from filing D-30?

@Matthew Paul thanks for the reply. I dont think I will do it unless I have tenants getting behind within the next 60 days. Two of my tenants got laid off temporarily but so far I only have one tenant who owes half of June so I'm ok as of now

I dont want to have to provide receipts and documentation and take a chance of having to pay back 1.5x the loan. Too risky. It's good to have the loan available for 60 days though in case something happens

@Matthew Paul did you decide yet? i was just approved today but I'm on the fence

@Ryan Taylor love his energy. He's so motivating

@Shafi Noss I have the Happiness Hypothesis on audible but never finished it. I need to start it back up. I keep downloading new books without finishing what I have.

@YiBing T. Luckily my tenant finally moved out before corona hit and evictions were prohibited. She would be continuing to live free. I stayed in contact with a former tenant and he moved in 2 weeks after she left and he has an essential job. I did get the warrant approval after she moved out and I think it was like 60 days after filing the ftp. Lesson learned.. i will be more strict regarding income and will file the ftp after 10days no later