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Updated almost 6 years ago on . Most recent reply

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10
Posts
3
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Robert Stack
  • Kirkwood, NY
3
Votes |
10
Posts

Passive new landlord in need of advice!

Robert Stack
  • Kirkwood, NY
Posted

I am new to real estate and even though I researched tenant/landlord relations extensively before I bought this house I feel like I havent followed what I learned on this site and various books and am already getting into a bad tenant situation.

So I inhereted this tenant with a two family house recently. She is on a month to month lease, according seller , which I have never seen. So I kind of dragged my feet and after owning the house for about two months never created my own lease or really set up any ground rules etc. The first month she paid her rent with no issue. Now this month she is saying that she can only pay part of the rent because she is awaiting disability due to a recent historectomy. She said she should have the rest this week sometime. I know I probably should have established a new lease and penalty for being late. At this point I feel like maybe I am being a pushover but honestly it is sometimes my personality type. The business side of me tells me to have a frank conversation with her that if she doesn’t keep up with the rent I will quickly begin the eviction process. But the other side of me tells me that I should wait and give her a chance first. Any advice in any regard is greatly appreciated. Thanks in advance!

Most Popular Reply

User Stats

10
Posts
3
Votes
Robert Stack
  • Kirkwood, NY
3
Votes |
10
Posts
Robert Stack
  • Kirkwood, NY
Replied

Thanks for your reply and advice. I do have one months deposit that was turned over to me from the sellers. I would assume it’s some kind of short term disability. Yes I agree I need to have a candid conversation with her about the money she will be receiving and how long she might be on disability. I think I should also address whether the apartment is in her budget while she is on disability. I guess I just need to reset and establish a lease and payment rules. Better Kate than never

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