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All Forum Posts by: Patricia Steiner

Patricia Steiner has started 11 posts and replied 2421 times.

Post: Death of member in LLC

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

It happens...please google the topic and you will find a lot of opinions and recommendations.  Generally the deceased member's shares will be distributed to the beneficiaries via the estate.  Do the search and you'll be armed with knowledge that can help you tailor your operating agreement to ensure you get the outcome you want should something like this happen.

Best.

Post: Tenant keeps on destroying parts of the house, then claimed the house is inhabitable

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

You're getting played because you're letting him set the rules.  Here's what you need to know and enforce:

"Landlord Rights to Enter Their Property in California.  Required to give at least 24 hours notice before entering. If the landlord must enter as an emergency measure, they can enter without notice."(End).  And, here's a legal site that gives more detailed advice on landlord entry:   https://www.kts-law.com/clearing-up-the-confusion-right-of-e... 

The tenant does not have to let you in; give the legal notice - and then use your key to enter the premises. Since you're in a legal tangle with this guy, take a witness with you and film/photo the unit. Do a formal inspection report, determine repairs, and then follow back with another notice to make the repairs.  I recommend not only posting the notice but photographing the notice itself and a copy of the envelope/notice posted to the door with date/time stamp.  Document every action - and any reaction you receive.  Take back control of your property and eliminate issues that the tenant is holding you hostage over.

You got this. 

Post: Renting Neighbors- issues

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

Let's start here:

"Hispanics" are not the issue. The property owner - that 'nice guy' - is your problem.  

And, yes, he can charge whatever rent he wants and if he is stupid enough to think that only "Hispanics" are lining up to pay over market rent, then he's basically assured you that he's ignorant and a racist as well.  The Fair Housing Act - which applies to private landlords too - makes 'it is illegal to discriminate in housing on the basis of a person's race, color, national origin, religion, sex (incuding gender identity and sexual orientation), familial status, or disability."  I recommend that you and the neighbors remove any race reference from your vocabulary (which could result in legal problems for yourselves) and stick with the tangible issues - such as noise, trash, illegal parking - whatever.  Since this is a reoccurring problem, be proactive in resolving it.  I recommend that you contact your municipality's code enforcement and share the tangible issues that have been repeatedly tolerated.  The officer/inspector can contact the owner in writing and give notice of regulations that prohibit these issues.  It also puts thse owner on notice and fines increase for repeat offenses - up to and including prohibiting the property from being rented as a remedy.  

And, I want to share this with you...I live in a 'highly sought-after, "Tony" neighborhood with homes in the 7-8 figure range - and we have a WHOLE LOT of crazies here - of all ages and descriptions.  You absolutely, positively DO NOT get to choose your neighbors.  But you also don't have to tolerate the intolerable.  You advised the owner of the problem. And, that 'nice guy' put you on notice that he's going to continue to do what is best for him - not the neighborhood. Why should he - he doesn't live there so it's not a problem for him. 

Get the city/municipality involved and just stick to the facts.  You can't fix this yourselves.  

Post: Older houses (1890-1940)

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

BOLT!  

As the owner of a 'historical' home, I can assure you that it will suck the life and money out of you on a daily basis. When something needs repair, it generally requires that A LOT will need to be replaced/repaired/re-engineered to make the one repair work.  Insurance coverage is limited and costly as well (insurers aren't stupid...they know how expensive any claim will be on an older property).

There is a lot on this topic in BP and through a general online search.  I recommend that you save yourself and invest in rental property that is to post-dinosaur building code/construction in high demand markets.

So hard to overcome stupid...don't go here.

Post: I've been targeted by a postcard mailer. I won't sell. Thoughts on engaging anyway?

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

Two thoughts:

You cannot make more time - and, as such, time is more precious than money.  Do you really want to waste/invest a minute value in this guy?  Let's face it, he's just throwing darts hoping he'll hit something - anything.  He doesn't know your house or it's value; he's not worth your time.  Leave the trash on the curb.

And, then consider this:  "Never argue with stupid people. They will drag you down to their level and beat you with experience."  (Source unknown).

You've got better things to do.  Take the trash out.

Post: White cabinets in rental yes or no

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

Yes.  White remains the preference.  

Post: How much to weigh DWIs/DUIs, unpaid traffic tickets, marijuana

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

I would bolt...even one unpaid parking ticket demonstrates that the tenant was unwilling/unable to meet that financial obligation - even at the risk of greater expense and possibly arrest.  And, legal expenses alone for a DWI/DUI run anywhere from $2500 to $10,000 - before the court fines/expenses, more.  Drug offenses/misdemeanors run in the $7500 range.  Bottom line:  your rent money is at risk with any of these events. 

The goal is to find a quality tenant - not any tenant.  It's the 'what starts out crazy, only gets crazier' adage.  

Best...

Post: Tenant always pays, just never on time

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

Manage to the lease.  If the lease says payment is due on the 1st, it's due on the 1st.  What you're experiencing is that old 'waiting for the bomb to go off' scenario. If the tenant is living that close to the financial edge, it won't take much for her to go over it.  My recommendation would be to send her notice (email is fine; text is not due to court admissibility in some states) advising that her rent is due on the 1st of each month and that will be fully enforced going forward. Should she then not pay on the 1st, send her a Notice To Quit on the 2nd advising that she is in default and has 3 days to cure it or will be evicted.  In most states, after this notice has been sent a second consecutive time (or within a certain time period) - the eviction process can begin.  Once you hold your ground and manage to the lease, her car payment might be late but you increase your odds of getting paid on time, every time.

Your ball, your court.  Hope this helps.

Post: Tenants cat left allergens

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

It's worse than you think:  'Pet dander can attach to everything in the house and last for a very long time. Typically pet dander can stay in a house for four to six months after a pet leaves home Cat dander lasts longer than dog dander as it's more airborne." (Source: Portland Urgent Care - and about every allergen and sinus clinic in the country).

Your failure to manage to the lease after knowing that there was a cat on the premises could prove to be a defense should you offset the security deposit without having receipts from credible/industry trades with their findings noted.  I recommend hiring a 'steamer service' and having them clean the tiles, flooring - everything. I have known landlords who had to regrout floors because the urine had penetrated it and could not be cured.  Even after this cleaning, there is still a better than average chance that the unit will still have an odor to it - and someone with allergies especially children would be affected.  And, I would get it going today - and offset the security deposit, providing all receipts and notice - within your state's required timeframe for security deposit notification of offset.  Do not miss the deadline.

The American Apartment Association has found that the #1 reason why landlords fail is due to failure to manage to the lease.  Make this a lesson learned - and learned only once.

Hope this helps...

Post: The bad neighborhood I invested in may kill my investment

Patricia SteinerPosted
  • Real Estate Broker
  • Hyde Park Tampa, FL
  • Posts 2,465
  • Votes 3,863

Time for a change in strategy - and one that won't require you to do a firesale.  I'll skip all the 'you should haves' because well, 'should' is a word based on insanity (too late to should) - and recommend that you convert your building for occupancy by Section 8 tenants who are screened and have some employment (so they're not just hanging at the property all day).  The income will be partially/fully guaranteed by Uncle Sam and you'll have caseworkers to assist in issues that may result.  If you want to message me, I can give you some recommendations on how to start/establish this process without the current PM who needs to be left at the curb.

It can still work...but only if you change course immediately.  Hope this helps...