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While your attorney's in court in November I'd have him throw in a claim for punitive damages for furniture storage and anything else you can get creative about. It may not fly but it just might - you just never know. Good luck!
It is also possible these folks move out very soon. They are probably searching for a new place now.
I suppose if they leave, they might just move out and not tell anyone, due to spite. Do you have someone that can keep an eye on the place to see if they move out?
FYI..The depreciation recapture might wipe out all your tax advantages for the year...as you have to recapture all the depreciation deductions that you took all prior years.
Depreciation recapture comes in when you sell the property for a gain after using it as commercial property. I'm not involved in a sale of the property. The property I'm selling is my home which I'm not using as a commercial property. No capital gain is involved. The property with the renters in it becomes my new home and I'm not going to be selling that any time for the rest of my life.
It is also possible these folks move out very soon. They are probably searching for a new place now.
I suppose if they leave, they might just move out and not tell anyone, due to spite. Do you have someone that can keep an eye on the place to see if they move out?
While your attorney's in court in November I'd have him throw in a claim for punitive damages for furniture storage and anything else you can get creative about. It may not fly but it just might - you just never know. Good luck!
Thanks for your insight. My attorney is pretty much on tip of that, but its unlikely that peoiole who refuse to pay rent are going to pay that. Its not like these people have any money. That's like trying to get the sellers in a short sale to pay closing costs for the buyer.
Thanks for your insight. My attorney is pretty much on tip of that, but its unlikely that peoiole who refuse to pay rent are going to pay that. Its not like these people have any money. That's like trying to get the sellers in a short sale to pay closing costs for the buyer.
I understand that. Getting any monetary judgement doesn't guarantee hassle-free reimbursement but an outstanding judgement DOES mess up a credit rating and can make it very difficult for the person against whom the lien is lodged to get any sort of credit in the future.
Quite honestly, I have no interest in screwing up these people's lives any worse than having an eviction would/will do to them. The community we are moving into is a small one, and while these people are clearly deadbeats, they are part of this community. Despite the fact that they have cost me thousands of unrecoverable dollars, the only one who is screwing us is the husband. The wife with her four kids is at a loss as to what to do, since she has no control. We are distraught about what is happening in the family as a result of this.
Besides, I don't want this guy driving past the house and vandalizing it, OR MY CARS or other stuff. However if when they move if not evicted, if they steal anything like the refrigerator or the washer or dryer in the garage, I WILL CALL THE COPS.
having had tenants do very bad things to my house and steal literally everything (including custom drapes and all appliances) , i would suggest that you make sure that you are down there on eviction day or whenever they move out. bad tenants always see themselves as victims and thus justify their need for "revenge", which is actually just stealing/bad behavior.
calling the cops isn't going to make up for anything they steal. generally, the cops do not want to get involved. (at least down here they don't), and, as you said, you can't get blood out of a stone.
having had tenants do very bad things to my house and steal literally everything (including custom drapes and all appliances) , i would suggest that you make sure that you are down there on eviction day or whenever they move out. bad tenants always see themselves as victims and thus justify their need for "revenge", which is actually just stealing/bad behavior.
calling the cops isn't going to make up for anything they steal. generally, the cops do not want to get involved. (at least down here they don't), and, as you said, you can't get blood out of a stone.
prevention is the best medicine.
Being there is not going to be easy since its 700 miles from me.
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