All Forum Posts by: Ricardo P.

I have a tenant who recently told me a contractor of mine “stole/took/misplaced” a phone charger of theirs. Contractor has been working with me and my family for over 15+ years. What would you say do or suggest. Should I replace the charger and move on?? Obviously I called the contractor and he said he didn’t see nor take nor misplaced item. Thank guys. 

@Hubert Kim I spoke to an eviction attorney lastnight before bed. He told me since there was NO text,email, letter the 30days start the day they turn over keys. She turned over the keys on the 5th. Rent is due on the first of each month. I sent over my itemized letter before the 21st day. So I should be good. I hope 

@Kyle J. thanks much for your input. It’s greatly appreciated 

@Kyle J. you are correct. Our lease agreement states she is supposed to give me an advanced 30day written notice to break our lease agreement. Which she failed to do so. The unit isn’t going to hit the market anytime soon due to the condition she left it in.  Let’s just say she had 10 indoor pets (dogs,cats,rabbits)

I just wanted to get my ducks in a row and wanted to get other landlords input in this situation. 

An inherited Tenant of mine failed to give me a written 30day notice to vacate the property. She was a tenant who was on a month to month lease agreement. She turned over her keys on March 5. On top of that She is requesting a full refund of her security deposit or else she would take legal action. 

1. Ive already followed California state law that requires me to send her a full itemized letter before the 21st day is due. I sent it to her through certified mail+ signature was required. I have my copy just Incase. I did not charge her for any cleaning fees,repairs ect. 

2. I’m keeping her deposit to cover rent for March(deposit isn’t enough to cover this months rent) + 4 days for April. 

30 days in all. 

To make my understanding short she actually owes me money. $950 to be exact.

Is there anything I’m missing before she takes me to small claims court? 

I’ll be filing a counterclaim against her for the rest of the money owed to me if she wants to take it that far. 

@John Underwood thank you much! I’ll give that a shot..

@Dennis M. it’s a smaller 5plex all 1bed 1bath. I closed on the first of this month and cash flowing $500 off the starting line. I’m sure if I bring the rents up to market price I can do alittle better. But I’ll wait and see what kind of tenants currently live here. 

@John Underwood would you happen to remember how much their fee is? 

I just closed on a small 5plex apartment property in SoCal. The Only downside is that it’s in a Class C environment/area. What do you guys recommend me to use when checking credit scores/background?

This is a class c area/environment. Many people that I’ve spoke too don’t use online applications nor have check stubs help with their application. 

This is currently my first year of having my investment property. The property still holds a mortgage payment and I’m always on top of paying my taxes,mortgage ect. So I’m sure I don’t owe back taxes of any sort.

For some reason I thought landlords would get a refund at the end of the year and that’s how there success comes into place. I think now being alittle more realistic and really looking at the bigger picture my success should be coming from the monthly payment opposed to the end of the year refund if any. 

This is my first year doing taxes while having my investment property. Property is located in Ca. Long story short I would think there would be some sort of refund i would receive for paying high property taxes,repairs,evictions and interest rate ect. I just spoke to my cpa and he’s telling me I owe money to the government??? Meaning I get $0 from my W2 and $0 from my investment... 

Does this sound right? 

Or is this the real nature of invesment properties?

Or should I just look for a different CPA?