All Forum Posts by: John Kollhoff

all of these week vary based on the type of property, age, brand, etc.

Can you give more details?

I have not used the simple mat, as I have a very reasonably priced tile guy. I do have a little project coming up though. I am tempted to do it myself. If I do, I will report back to you all.

Here is a site that details using formica as a backsplash.
http://www.truetex.com/formica.htm

Here is a blog that uses SimpleMat as a "mortar" for a backsplash:
http://www.homemakeoverdiva.com/easy-to-install-kitchen-backsplash-with-simplemat/

These metal peel-and-stick are kind of pricey, but will give an upgraded look to your property:
http://www.luxuryhousingtrends.com/archive/2007/02/peelandstick-me/

Good Luck!

I'm being misunderstood again!

I meant that THE SELLER/seller's insurance should pay the buyer $5-6k to make the buyer whole.

Tim, I think we are both right on this one... Just not enough detail given.

If it was owner-occupied, the homeowner's insurance should cover it. If it was vacant, the owner should have a dwelling policy, which should also cover it. If there is a deductible, the seller should pay it.

You are correct on delivering property in the same condition. I meant, and did not write, that if they are willing to put it back into the same condition and you want to back out, then do so with dignity.

If I had the option, I would take the money and have it done myself. $5-6k should cover the compressor and install.

Good luck and keep us posted!

Their insurance should cover the loss. If you had it under contract, you have equitable title to the property and can be named as the insurance payee. You might check with your own insurance too, but they will probably tell you something similar to what I have.

If you want to back out, do it. Don't make excuses. Cough up the earnest money and hope they let it go at that.

Best wishes.

Can you borrow against your equity in the property and possibly rent it out? Move in and sell your home? Take a loan against your home, car or other personal property to pay the deficiencies? Don't paint yourself into a corner on this one. There are lots of options other than "sell".

Best wishes.

I'm not sure if it will meet your needs, but I have used insurance adjusting software to do a loss/damage estimate to a property after a tenant moved out. I used Xactware, but I'm sure there are others out there.

Good luck!

I have had good luck using Facebook and WhitePages.com. Depending on the resources at your disposal and the information you collected from your tenants, ie - ssn, drivers license, you will have better luck finding them. Do you know their previous employer? Do they still work there? Are they still acquainted with anyone there? Do those people know where they are now?

Depending on your state, you may need to send the bill to the last known address, even if it is your property address, to fulfill your legal requirement.

Also, I always let my buddies in the area know I have a deadbeat - and give them any information I can, to help track them down and keep our properties free of trouble tenants!

You could always post it on BiggerPockets.com and see if the community could track him down!

Good Luck!

I'm with Ryan A. on this one! We charge about $50 less than a month's rent, so if they "decide" they want to use their security deposit as the last month's rent, they will have to 1) make contact with us, 2) pony up more dough, and 3) find out that they can't do that!

I'm a landlord that likes to give my tenants excuses to pay their rent early or on-time. As such, I set my rent at $50-100 OVER market rate, and if it is paid ON OR BEFORE the 1st of the month, I give a $50-100 discount! On the second, no discount.

Not paid by the 5th? Tack on another 10% to the higher amount. Then start the $10/day routine on the 6th. I've only had a couple of "problems"... Generally on the first time, I will forgive some of the late fees, but as others have said, if they don't pay, and want to use the deposit, they should get an eviction notice.

Also, your lease should state that security deposits are not to be used as rent!

Good luck!