All Forum Posts by: Shannon Trivett

his vs. hers as proposed by him. 

I think it's till pretty easy to collect. I spoke with a former Chief Petty Officer and an active duty Commander and they both said just get a hold of his Command Master Chief and I could basically get what I want. 

I was willing to settle for less when they vacated because i know he's facing a hardship due to ex-wife drug use and the children but he said "F off - Sue me" 

I'm still willing to compromise with him/them but he is set on picking what he owes vs. what she owes. 

He has requested written documentation that is he pays the $705 I will not go after him for more. 

1. Whole heatedly agree! 

2. She was a stay at home mom with 3 kids. He's navy. they have ordered him to "settle the debt"  In return for the $705 he'd like a letter clearing him of the possibility I will go after him for the rest.

Maybe there is a better way to write this?

Former tenant left owing approx. $2000 in unpaid rent, water and damages  

I've recently been contacted by the Husband and he'd like to settle his portion of the liability.   They are still in the process of divorce but he's making large attempts to separate himself from her as quickly as possible.   He asked if I would accept half of the damages and water as his portion and retain the right to pursue her for the additional 50% plus last months rent, late fee and key charge.  I am comfortable with the comprise. Below is my first draft at the settlement agreement I would appreciate a critical eye. 

Also, how would you recommend this be signed, he works out of state but does travel to this area some weekends. 

Thanks

Agreement to Settle

XXXXXXXXXXXXXXXX (Landlord) and XXXXXXXXXXXX (Former Tenant) agree to the following

Premises:  # CCCCC Street, Any City, PA

Mr. XXXXXX agrees to pay 50% of gross damage/cleaning charges ($1,250) and 50% of past due water service (160.67) for a total of $705.34 (SEVEN HUNDRED FIVE DOLLARS AND THIRTY FOUR CENTS)

Tenant will pay the above amount owed in full no later than February 25, 2017, without further demand from Landlord. Payment may only be made money order.

Landlord agrees Payment in full as specified by this agreement releases Mr. XXXXXXXXXX of further obligation to this debt. Landlord reserves the right to pursue XXX  soon to be ex-wife XXX for remaining past due balance as permitted by law.

Landlord agrees not to take any legal action as long as the tenant complies with this agreement. Failure to make any payment on or before stated date is considered a material violation of this agreement and is grounds for further action as permitted by law including but not limited to civil court claim, adverse credit reporting to all three agencies and surrender of tenant information to a collection agency.

All other terms and conditions of original lease will remain in full force and effect. 

@Milan Obradovic, I have ARC  GIS at work which has scale aerial images sold by the county. I placed the wells manually based on site tours and conversations with the neighbors.  

This is a study I did for one of our properties. the red dots are wells the yellow border encloses out land. the only place we could have put a septic/sandmound would have been under the existing garage. 

From a municipal standpoint it's grandfathered and legal, but from an appraisal/financing standpoint the home in not eligible for financing.

@Milan Obradovic, how much is a perc in your area?

Get under contract before putting out any cash and make sure it's contingent upon perc. 

One other thing to watch is setbacks on neighboring systems and property lines/structures. I don't have the setbacks handy but I think it's 100 to a water source and 50 feet to another waste area. depending on the shape of your lot these setbacks could make it un-build-able. 

Cash is king and you might be able to build with out following the proper guidelines, but buyers will have trouble with financing like FHA when you try to sell.

I have this language in my lease in case I later find out some one has been staying there:

Tenant will not give accommodations to borders or lodgers without landlords written consent.

i.Tenant agrees that giving accommodations is defined as providing living or sleeping space to a person(s) for 3 or more consecutive days.

ii.Tenant may petition landlord for special guest privileges when family is visiting.

iii.Tenant agrees that if Tenant gives accommodations to anyone not listed on this lease tenant will be evicted and Tenant’s security deposit will be forfeited in full. 

If the prospective tenant is single or  has adult children I let them know that any adult they my wish to move in at a later time would need to go thru the same check they had to and may not be approved to move in.  

Varies by municipality, but in the end I think most allow a tank. Please do not consider this a long term solution. the take will not leach or process waste it simply holds it until you have someone come and empty the tank. 

I was told frequency can be 2 weeks 2 a year between pumping depending on use and pumping can cost $75 to $200 per visit. 


Is there a reason it would not perc?

Are you assigning law-care to a tenant or is the entire property hard-scaped?  Who will shovel snow. In PA your bound to get some and paying someone to take care if it is cheap insurance for when the local zoning officers cite you or worse someone slips and falls.

I agree gas and water seem super low. is part of the building vacant right now. I have a duplex with 3 beds 1 bath per side. 4 adults, 4 youth and a infant and water runs over $100 per month. more when they don't hear the toilet running and forget to call me to fix it.

Where does the $150 a month maintenance come from, are they actually spending that or is it amortized larger repairs.  if they are currently spending that each month the property will likely nickle and dime you to death. being an hour away will make it hard for you to control some of the minor maintenance cost like replacing flappers in the commodes.

Travel time will also be an issue when you screen tenants. In a subprime market you need to screen more then you think. I usually hold a few open houses and proscess 40-50 application before I find a qualified tenant.

Taxes could change based on your purchase price. Learn the tax laws for that area, In one market I invest in assessed value is 1/5 of the purchase price. In the neighboring county they actually asses each home so what you buy it at has no bearing on what you pay. 

Will you have an opportunity to raise rents? Seems like the monthly collected rent is low if you are providing heat and water.

Adding bedrooms can add sewage utility costs in some locations.
What does the neighborhood dictate. If most home values are lower you might not get the big spender who wants to go into a sub par market.
If home values are higher with more discerning buyers go for the 4br/3.5 bath but make sure your finishes are equally high end.