23 Oct Ep. 47 Attorney Julie Ostrom-Investment Properties and Evictions

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In this episode, Realtor Adam Kruse had Attorney Julie Ostrom of Beck Ostram Sweet, LLC come into the Hermann London offices to give a presentation on investment properties and evictions. Find out about the new rule regarding security deposits and how landlords and property managers can protect themselves by having more thorough lease agreements.

Email questions to PODCAST@HermannLondon.com

WHAT’S INSIDE

0:30 Adam and Shannon give a disclaimer explaining that this was an educational presentation held in the Hermann London conference room that they decided to record for the podcast.

3:41 Adam thanks Julie Ostrom of Beck Ostram Sweet for coming to Hermann London to share her knowledge

3:58 Julie introduces herself. She has been licensed to practice law since 2009 and her specialty is investment properties.

4:20 Why is it important to have a lease agreement?

4:30 Can you collect late fees without a written lease agreement?

4:40 Can you be reimbursed for attorney and court fees with a lease agreement?

4:56 Can you waive the right to a jury trial with a lease agreement?

5:19 How long should a lease be for?

6:03 What is a month to month tenancy?

6:40 What is a good termination clause?

7:23 Identify the monthly rent, the day that it is due, and the grace period in your lease agreement

8:10 What is rent abatement?

8:50 Use a lease agreement to identify who pays the utilities

10:14 There is a new rule as of August 28th, 2018 that says security deposits have to be kept in a separate account that is FDIC insured

14:24 Can you collect more than 3 months rent for a security deposit?

16:01 How soon must a security deposit be returned to the tenant?

17:14 Evictions

17:53 What are the two types of evictions in Missouri?

17:56 What is rent and possession?

18:03 What is an unlawful detainer?

19:40 How much does it cost to file for a rent and possession eviction?

20:15 What are the two types of servers in an eviction? What is posting service?

26:18 All landlords have an obligation to mitigate damages. A landlord is not allowed to double collect.

27:00 What can a court order tenants pay to a landlord

27:28 Execution on your judgement. What is a writ for execution?

28:48 What should a landlord do with their tenants’ stuff after the eviction? What is conversion?

31:21 Unlawful detainer. The three classes of holdover tenants. Tenant/employee/intruder

33:00 30 day notice of termination are better off served and not mailed and is based on the rent payment period

34:36 What do you do if your tenant has unauthorized occupants? What is an obligor?

37:30 Default judgement/ consent judgement/ judgment after trial

38:18 Kohner Properties, Inc v. Johnson-Do tenants have an obligation to escrow their rent when they are claiming they are holding rent as a result of failing to make repairs?

40:30 Are heat and air conditioning a right? What if an air conditioning unit can’t be repaired for 3 weeks?

42:14 Brainchild Holdings LLC v. Stephanie Cameron-Do tenants have a right to a jury trial? What is a Trial de novo?

43:58 Tenants think they don’t have to pay rent when the property has a building code violation with the word condemned on it

45:00 What is Project 87 in the city and how do they help with lead paint removal?

46:23 Will insurance companies defend a lead paint lawsuit?

47:20 What if a tenant finds bed bugs?

50:08 Encroachments

51:17 Do you have the right to trim anything that is encroaching on your property? What if you kill your neighbor’s tree?

52:08 Can you file a lawsuit to enter your neighbor’s property to fix your property? What is easement by necessity?

54:17  Do you have to take someone to court if they claim a survey is wrong?

55:20 How often are the surveys wrong?

56:29 Call the Beck Ostrom Sweet Law Firm at 314-772-2889 and email Julie at jostrom@bos.law

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