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I did not collect any rent. Profits need to be realized (sale at a gain) to be considered income. Sent from my iPhone using Tapatalk

Just wanted to follow up on this post. I filed a claim with my insurance company and I am covered because the boiler was winterized by a plumber and thankfully I scanned those receipts. I will be receiving money covering both the boiler replacement and for water damage to the basement...

Thanks guys I’ll get in touch with my insurance company. Sent from my iPhone using Tapatalk

My boiler burst this winter during one of the cold freezes. I had my plumber fix all the burst pipes and when he repaired the pipe to the boiler water supply he discovered oil boiler had developed cracks on it and the boiler was spewing water onto the floor. It is a multi family home (3 units)...

Gonna talk to some lawyers tomorrow. Searching Martindale Hubbell. Not sure how and if I should respond to the lawyers ultimatum for a date to inspect my apartment before he goes to the “courts”. Sent from my iPhone using Tapatalk

I had a leak in my apartment's plumbing into the unit below which happens to be owned by the condo board's president (CPB). I stopped the water flow immediately and the issue was resolved. I told the CPB three times I would pay for his damages. The first time the morning of the incident...

Would letting my insurance pick up his deductible ($1000)be less damaging to my ability to renew than having my insurance pay the claim outright? The economics makes sense. Customer A has claimed 1k in 5 years vs 10k in 5 years. I’ll call my carrier and ask. Email from Condo President: “I...

LMFAO. cease to exist....I’ll have to write that one down. I want to pay bc he could cause pain for me in the near future. When I want to rent my apartment out. Sent from my iPhone using Tapatalk

One possibility is he is claiming excessive damages and doesn’t want me to see the claim amount. Sent from my iPhone using Tapatalk

So the story gets even stranger. I got a email from the guy I leaked onto’s (who also happens to be the condo board president) lawyer demanding payment, and for me to show x amount of liability coverage. I’ve already agreed to pay for his damages 3x prior to the letter. Today I get another...

I did not know this until just now - the adjuster just called me back. I was quite nervous over the last few days thinking I could be out some cash. It was caused by a bidet that was attached to the Toilet. It worked fine for 5 years and it just sprung a leak. I installed the bidet. Good...

My insurance company said the damages to my neighbor’s unit will be covered under my insurance policy and there is no deductible to be paid by me. All he needs to do is send in pictures and an estimate for repairs. Since my insurance company is handling the claim, there is no need for an...

Where should I look? Sent from my iPhone using Tapatalk

Does homeowners insurance cover leaks from one apartment into another? I live in a condo. Water leaked from my toilet to the downstairs apartment. Not sure how much but there is at least some sheetrock damage. The neighbor was understandably upset so I’m going to wait for him to let me know...

Found some books on amazon to start the education process. Sent from my iPhone using Tapatalk

I️ have a real estate attorney for the transaction, but she does not seem well versed in NYC landlord tenant law. She suggested it was fine signing to a escrowed amount of 15k. Not considering the possibility the tenant could stay beyond what 15k worth of rent would cover. Sent from my...

Thanks for the literature Army Judge. Sent from my iPhone using Tapatalk

Edited my post to clarify. Sent from my iPhone using Tapatalk

So for the deal to go through in a timely fashion I️ asked for 50k in escrow and rent to be deducted from that escrow and delivered to me at a rate of 100$ per day paid monthly. The market rental rate is $1500/month I could wait for the building to be delivered vacant but I️ would lose my...

Good question: yes I️ wrote that the building must be delivered vacant into the contract. Sent from my iPhone using Tapatalk