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AASEW MEETING ON HOW TO BUY FORECLOSED PROPERTIES - MAY 18th

Posted by Tristan R. Pettit, Esq. in Foreclosures, Investing In Rental Property / Comments

Anyone interested in purchasing foreclosed properties will not want to miss the Apartment Association of Southeastern Wisconsin's upcoming monthly meeting on Monday, May 18, 2009 at 7 pm at the Best Western Midway Hotel located at 1005 S. Moorland Rd. in Brookfield.Attorney James Mulligan, an expert in the area of foreclosures, will be the key note speaker and will discuss how to purchase foreclosed properties as well as provide us ...

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WHO MAY BRING AN EVICTION LAWSUIT

Posted by Tristan R. Pettit, Esq. in Evictions / Comments

§799.40 of the Wisconsin Statutes states that an eviction action may be commenced by a "person entitled to possession of the property." This law has often been ignored and many eviction lawsuits have been brought in the name of someone other than the owner of the property. Oftentimes a management company is named as the plaintiff rather than the actual owner of the property.Milwaukee County is paying close attention ...

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5 DAY NOTICES AND LATE FEES IN MILWAUKEE COUNTY

Posted by Tristan R. Pettit, Esq. in Late Fees, Notices / Comments

Around March 1, 2009 or so, Milwaukee County court commissioners began dismissing eviction lawsuits that were based on 5 day notices that included any amounts other than "rent."The statute regarding 5 day notices, §704.17, Wis. Stats., states that if a tenant "fails to pay any installment of rent when due" the landlord may issue them a 5 day notice to pay rent or vacate the unit.In the ...

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A NEW COLLECTIONS TOOL FOR LANDLORDS IS AVAILABLE

Posted by Tristan R. Pettit, Esq. in Collections / Comments

The Apartment Association of Southeastern Wisconsin has recently entered into a contract with Rent Recovery Service so that AASEW members can receive a discount on this new collection tool for landlords.You can access Rent Recovery Services from the AASEW website.  After providing Rent Recovery Service with the necessary information about your ex-tenant, RRS will send a letter to the debtor advising them of the debt.  If the ex-tenant has ...

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NEW PUBLISHED CASE ON EMERGENCY ASSISTANCE STAYS

Posted by Tristan R. Pettit, Esq. in Caselaw, Emergency Assistance / Comments

We will soon have a published Wisconsin Court of Appeals decision on the issue of emergency assistance stays in eviction actions that will assist us as landlords in removing the non-paying tenant.Sec. 799.40(4) of the Wisconsin Statutes states that a court must stay an eviction action brought against a tenant that has applied for emergency assistance.  The stay remains in effect until it is determined if the ...

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TENANT PROTECTION ACT PASSED

Posted by Tristan R. Pettit, Esq. in Legislation, Evictions, Foreclosures / Comments

A new law has recently been passed that will affect rental property owners that may be in the unfortunate position of having their properties foreclosed upon as well as those individuals that may be purchasing a property that has been foreclosed.  Sen. Lena Taylor's bill referred to as the "Tenant Protection Act" (SB 78) was incorporated into the budget repair bill that was recently passed. The new law requires that ...

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PASSING OF WORTHLESS CHECKS WILL NOT BE PROSECTED IN CITY OF MILWAUKEE

Posted by Tristan R. Pettit, Esq. in Bad/Bounced Checks, City of Milwaukee / Comments

Issuing a worthless check is a crime in Wisconsin.  Accordingly, when a tenant pays his/her rent or security deposit with a worthless check I typically advise my landlord clients to do two things: (1) serve the tenant with the proper notice terminating tenancy for failure to pay rent so that an eviction action can be commenced against the tenant, and (2) report the crime to the local police so that a ...

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TIME TO REVIEW YOUR RENTAL DOCUMENTS

Posted by Tristan R. Pettit, Esq. in Rental Agreements, Rental Documents / Comments

With the new year already upon us, I encourage all property owners and managers to spend some time reviewing their current rental documents so that any needed changes can be made before accepting new applicants.  Below are some questions and ideas that may assist you in your review.Is the rent amount that you are charging your current tenants in line with the what other similar properties are being rented for ...

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LLC'S MUST FILE ANNUAL REPORT WITH DFI

Posted by Tristan R. Pettit, Esq. in LLC's / Comments

Effective January 1, 2004, all domestic Limited Liability Companies are required to file an Annual Report with the Department of Financial Institutions (DFI).The report is due during the anniversary quarter of the LLC's effective date of organization on record with DFI. The report will be sent to the registered agent of each LLC to the registered office of record. The Annual Report is fairly simple to complete and there is ...

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IMPORTANT WEBSITES TO ASSIST WITH SCREENING TENANTS

Posted by Tristan R. Pettit, Esq. in Screening Tenants / Comments

As I have mentioned before, the screening process is in my opinion the single most important aspect of the rental process.  Sufficient time should be spent by the landlord to attempt to ensure that the chosen tenant will be able to live up to and abide by the rental agreement.Below are some websites that I find very helpful during the screening of my tenants.CCAP - Wisconsin's Consolidated Court ...

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