All Forum Posts by: Anthony Paul Guglielmi

Their current lease does not say anything about the basement. I was thinking of giving them options since they are on a M2M.:

1) I can keep the rent close to what they are paying now, and they will have to vacate the basement area for construction to commence.

2) They can keep their current arrangement, but rent will be raised to a competitive level.

3) They can vacate - this being their 30 day notice.

Do you all think this is a fair and smart approach?

@Theresa Harris sorry. Thought I mentioned it. It is a M2M.

@Jacob Kline I haven’t done this. Only experienced it. I just bought my first rental through a wholesaler. They basically got all their potential buyers to come by for 1 showing, 1 time. I don’t know if having less showings would make her more amiable to the process.

I just bought a duplex. The unfinished basement is huge, big enough for 2 more units. Right now the current tenants have access to it for “storage”. They are currently on a month to month lease.

I would love to get started converting that space, but I’m concerned on losing them as tenants if I approach it too soon. Their current rent is also over $200 below market. So I feel like it’s going to be weird to raise the rent and take space away. Any advise?

My wife and I just purchased our first duplex. I need to get the tenants on our own lease. Any ideas on how to approach this? Where to get a good lease? How to raise the rent (it’s over $200 below market right now)