 Rent reduced by judge (by Ernie [NY]) Sep 28, 2010 12:21 PM
 Rent reduced by judge (by Dale [KY]) Sep 28, 2010 12:30 PM
Rent reduced by judge (by Melanie [CA]) Sep 28, 2010 12:48 PM
Rent reduced by judge (by p m h [TX]) Sep 28, 2010 1:04 PM
Rent reduced by judge (by Reid [KS]) Sep 28, 2010 1:33 PM
Rent reduced by judge (by Echo [GA]) Sep 28, 2010 2:05 PM
Rent reduced by judge (by Ken [NY]) Sep 28, 2010 4:04 PM
Rent reduced by judge (by Robert J [CA]) Sep 28, 2010 4:44 PM
Rent reduced by judge (by BRAD 20,000 [IN]) Sep 28, 2010 8:50 PM
Rent reduced by judge (by Ernie [NY]) Sep 29, 2010 5:52 AM
Rent reduced by judge (by billy [MA]) Sep 29, 2010 6:29 AM
Rent reduced by judge (by Gwen [OH]) Sep 29, 2010 10:53 AM
Rent reduced by judge (by Kate [NJ]) Sep 29, 2010 2:42 PM
Rent reduced by judge (by Ernie [NY]) Posted on: Sep 28, 2010 12:21 PM
Message:
State Specific Question About: NEW YORK (NY)
In Bronx, NY, we have a Section 8 tenant who was extremely delinquent on their rent. By the time it got in front of a judge, numerous late and legal fees were accumulated.
The judge threw out some of the rent, calling it "stale", and threw out the late and legal fees.
Are we allowed to write off the thrown out rent and dismissed fees as losses to income? --68.195.xxx.xxx |
Rent reduced by judge (by Dale [KY]) Posted on: Sep 28, 2010 12:30 PM
Message:
Might need to talk to your tax guy. Do you use cash or accrual accounting. I'm no tax guy but I think if you use cash accounting then no. If you use accrual accounting then maybe you can. --199.61.xx.xxx |
Rent reduced by judge (by Melanie [CA]) Posted on: Sep 28, 2010 12:48 PM
Message:
I might add as long as youre contacting your tax person, ask if you can 1099 your tenant. Since the judge called the rent "stale" and basically forgave the debt, you didnt gain benefit but the tenant did. I would hope in a parallel universe its income for someone.. --76.212.xxx.xxx |
Rent reduced by judge (by p m h [TX]) Posted on: Sep 28, 2010 1:04 PM
Message:
if cash basis then you never had the income.
if accrual basis then will be bad debt write-off (expense) --12.40.x.xxx |
Rent reduced by judge (by Reid [KS]) Posted on: Sep 28, 2010 1:33 PM
Message:
Well that's a new one , "stale rent" try not making a few car payments and see if a judge will throw out stale car payments , ...... Good Grief Charlie Brown --99.91.x.xx |
Rent reduced by judge (by Echo [GA]) Posted on: Sep 28, 2010 2:05 PM
Message:
Pit-a-ful. I'd think you'd be able 1099 them. Ifyou use cash basis , I dont think you can claim it. You can claim all your expenses, travel mileage, postage fees, etc.. Which isnt saying much. Can you get rid of the tenant? --98.94.xx.xx |
Rent reduced by judge (by Ken [NY]) Posted on: Sep 28, 2010 4:04 PM
Message:
File a claim in small claims court. --67.252.xx.xxx |
Rent reduced by judge (by Robert J [CA]) Posted on: Sep 28, 2010 4:44 PM
Message:
Just so you don't go crazy, in the past 30 years of taking tenants to court here in the Los Angeles area, judges don't like awarding late fee's or legal fee's. One tenant tried every trick in the book, costing me $2000 in legal fees. I won and was awarded the standard $250 legal fees, not my cost. Even if I got the judgement I was seeking, most landlords never collect on tenants debts..... --173.60.xx.xx |
Rent reduced by judge (by BRAD 20,000 [IN]) Posted on: Sep 28, 2010 8:50 PM
Message:
"Stale"? Wow! Wonder where THAT came from?
If they are on Sec8 they don't have money to pay anything anyway.
Write off? You only pay tax on the money you collect.
--67.175.xx.xxx |
Rent reduced by judge (by Ernie [NY]) Posted on: Sep 29, 2010 5:52 AM
Message:
Thanks to everyone for the input.
Yeah, "stale". Verbatim. I couldn't believe it either. We've had the case going for over 6 months, as they keep delaying and delaying, getting multiple Notices to Show Cause, etc.
We've been trying desperately to get rid of the tenant, but the laws of the City of New York and the judges who reign at Landlord/Tenant Court are heavily biased in favor of the tenant, particularly when the tenant is Section 8.
I'm going to talk with the accountant about seeing if we can issue a 1099, that's an interesting idea! --68.195.xxx.xxx |
Rent reduced by judge (by billy [MA]) Posted on: Sep 29, 2010 6:29 AM
Message:
trying to collect from section 8 for old past due rent sounds like a tough thing to do.i would just go on with life once she is out. --173.14.xxx.xxx |
Rent reduced by judge (by Gwen [OH]) Posted on: Sep 29, 2010 10:53 AM
Message:
I was under the impression that you could not collect rent fromS8 while an evicition was in progfress, but S8 had to pay up once they were evicted. Been told that by even S8 as well as S8 landlords.
That was a contract with the federal government you signed. Not sure a local judge has the authoirity to just void it like that. Since the federal govt is collectible I would appeal or do whatever you have to do to get it. --151.213.x.xx |
Rent reduced by judge (by Kate [NJ]) Posted on: Sep 29, 2010 2:42 PM
Message:
1. Do file a collection suit. According to my NJ attorney, $ owed never goes stale for a collection suit.
2. Check Yellow Pages for Lawyer Referral Service - in NJ they charge $30 for half hour consel and questions over the phone.
3. Appeal to Federal Court.
My nephew in Brooklyn inherited a Rent Control tenant who pays him a tiny monthly rent and she can never be evicted. --174.57.xxx.xxx |
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