All Forum Posts by: Russ B.

That's the downside of having a business partner who's 10000x your size.. they can just cut you out at any time, for any reason, and not think twice about it.

Not that this makes AirBNB a bad deal.. it's just something to factor in as a risk.

Old outdated electric and plumbing are probably the biggest ones aside from the obvious (roof, HVAC, etc.). A home inspector might not make much effort to call that stuff out either, since it's technically not a "defect" and is usually fairly obvious. Old buried oil tanks are another classic.

There are also things that weren't built up to snuff (by today's standards) in old houses - especially ones that were cheaply built. Unlined chimneys and uninsulated walls are things to look out for.

Beyond that, the biggest risk is probably bad work people did in the past - for example, I've seen houses where a flipper covered the ugly stone foundation with nice smooth concrete, but formed a perfect little shelf at the top, so the wood siding could sit in water 🙃

The foundation and structure are areas where I'm actually less concerned in an old building than a brand new one - anything that was going to settle (on its own) has already moved.

If you can see the foundation (ie, the basement / crawlspace walls haven't been covered over or recently resurfaced) and everything is still close to where the original builders put it, you're probably good to go. If the floors are all still level / solid and there are no signs that walls have been cracking, the structure is likewise probably good.

The people in life who will treat you the meanest, are the ones you've bent over backwards to be over-the-top nice to.. it's just an unfortunate fact of human nature.

Her using the word "uninhabitable" suggests that she might be planning on not paying rent (that's a legal term). Someone probably told her to say that.

You're in NJ, so you'll definitely want to nip that in the bud. If she starts talking about "withholding" rent, you'll know you have a fight on your hands.

That kinda sounds like it could be one of the games people will play, when they don't want you to look.

Who knows if that's the case with this guy, but with the covid moratoriums ending, there are probably quite a few renters out there right now who would really like to skip the background check...

Going after the seller might be another avenue to look into.

Another alternative (even if it's kind of a pain) might be to write them a check out of your personal account and then expense it back to the LLC.

I'm not a lawyer, but to me that seems like it may be enough to not be commingling of funds, since the LLC is still behaving like its own entity?

Sounds like I'm a little late to the party.. but I'd also mention that one tiny speck of mold / bacteria / something per plate, is actually a stellar result.

That means, only one spore probably landed on each spot.

If you had a mold problem, I'd expect to see the entire top of that thing cover over, pretty much all at once.

Usually there's a certain amount of notice needed to increase rent - required by law and / or specified in the existing lease. In a lot of states, you have to give a 60 day written notice of a rent increase.

If she will still pay the old rent for this month, then you can take it and go that route. That also gives her time to find another place if she so chooses.

The path you're currently on looks to be non-renewal. You should look up the exact requirements in your area, on how to do one of those. There are rules on giving notice / time frames / etc., just like for non payment.

From a legal perspective, you probably have not started the process yet, since you haven't given a legal notice.

There would definitely be liability concerns.. you're effectively now responsible for the "building" this business is operating out of. She can be insured, but if a kid gets injured somehow or someone slips and falls in the driveway, etc., there are a million ways that could come back on you.

Lots of leases include a line like "Tenant shall not operate any business on the premises" for that reason.

Beware of your local laws. In some places, you're not allowed to require extended rent up front. There are scammers in those areas who will move in and then take their money back.. and never pay another dime.