All Forum Posts by: Account Closed
Account Closed has started 7 posts and replied 25 times.
Post: Non paying tenant advice
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Originally posted by @John Morgan:
I’ve been burned a few times for being soft like this. I would file for eviction ASAP. Being nice has cost me over 10k from tenants like this.
A first for me. Knock on wood, since my first rental property 7yrs ago there have been zero issues with rent. I was dreading the day this came at my doorstep and here it is. Legal process has begun.
Post: Non paying tenant advice
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Originally posted by @Jonathan R McLaughlin:
@Account Closed THIS is the sentance that reveals the problem: "Before I started the legal route I wanted to give her the opportunity to do right by the lease agreement she signed"
The idea is good, the problem is that you need to start the legal route in conjunction with giving her the opportunity to do right by the lease agreement. You can stop the legal route any time and for any reason if you choose. But delay on your part encourages more delay, and thats human nature whether tenant or landlord.
If she is being overwhelmed, she has no choice but to prioritize bills by importance. You have signaled pretty strongly this bill is not immediately important.
Agreed. As of this past Friday our attorney has started the process. As you said the eviction process can be stopped at any time if she decides to become current on her rent.
Post: Non paying tenant advice
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Originally posted by @Jim K.:
@Account Closed
Dude, can it with the "handle gingerly" crap and learn the law, learn about the RCAPS process, quit the hobby landlording or hire a property manager. Both you and your tenant deserve better. It's going to cost money and effort to learn. Commit. Type "real estate lawyer Worcester" into Google, find a phone number, make a phone call, have the conversation you need, hire the person you need.
No hobby landlord here, just the first time someone has slipped by our vetting process and turned out to be a dud. Already have a RE attorney notified, however I am trying to be a human being and try to work with the tenant as long as its a two way street. MA is a tenant friendly state. Before I started the legal route I wanted to give her the opportunity to do right by the lease agreement she signed.
Post: Non paying tenant advice
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Hi BP community. Wanted to put up a question to get some suggestions from landlords who might have gone through a similar situation. I am dealing with a non paying tenant in Massachusetts.
She is a single mom who moved in beginning of 2021. Rent has been on time until about 2 months ago when she asked for an extra week to pay, or post date a check. Month of November she begins by saying she will be a bit late on the full rent, to a week later saying she can only afford to pay half rent, to now saying she can't pay any rent until next month. She has supposedly applied for RCAPS program which helps tenants pay their rent if they have fallen behind. The program kicks in once the tenant is 2 months behind on rent.
I have not received any paperwork from RCAPS to do my part for her application process. In her last contact with me she claims that I knew she was having issues paying rent and I could have started the RCAPS application months ago as if that's my responsibility.
I have kept track of all my communication with her. My question is what is the best way to approach this? Should I sent out a demand for rent letter? Should I start an eviction process? Can I ask her to provide proof of the application for RCAPS? How can I navigate this process basically as gingerly as possible?
Also, her lease runs out May 2022. Renewal notices go about 60 days prior to end of lease agreement. If RCAPS does not kick in soon or if she is dragging her feet in any way I will not be renewing her lease. Come May, even if worst case scenario happens and she has not paid until May, can I still have her move out? Lease is done, I don't wish to renew. Is that within my right?
Any ideas, suggestions how to navigate this process would be much appreciated. Thanks BP fam.
Post: Any GC recommendations in Worcester MA for a flip?
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Originally posted by @Alex G.:
Your budget may be too low. We paid Re-Bath 14k to remodel a small bathroom in our house in Marlborough this summer. Bath remodeling contractors wanted $30-35k or more.
14k to remodel a small bathroom? Last few we have done for our rentals have been around 8k. Then again you could have gone higher end with materials. Ours were rental properties.
Post: Contractor recommendations in Fitchburg Leominster area
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
hi Jonathan. This particular property three of the four units are in very nice shape. And we know with an overhaul it could get higher rents. Depending on pricing we could go either way I suppose.For this particular market I don’t think a high-end overhaul is needed, so something middle of the road I suppose. I can show the contractors photos of recent overhauls we have done to give them an idea of what kind of renovation we expect.
Originally posted by @Jonathan Bombaci:
@Account Closed we run a property management company out of Lowell and Leominister, we do quite a few unit turnover and renovations in Fitchburg. In fact we just finished one in Pepperell and are starting one at a vacant unit in Fitchburg on Monday.
Are you thinking a “rental grade” renovation or are you going a bit higher on quality? We have 2 contractors in network that we like to use when we don’t have the time do the work ourselves. One is great at the rental grade renovations but when we want something higher quality done, like on a flip, there is another company we like to use. It is more expensive but the quality difference is apparent.
If you want specific names of companies or soft introductions to them please direct message me.
Best,
Jon
Post: Contractor recommendations in Fitchburg Leominster area
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
In the process of purchasing another off market 4-fam and the top floor unit needs a complete overhaul. Have called a few people I have used in the past for these sort of jobs but wanted to see if the BP community has a recommendation for me. Looking for a reliable contractor that does the job right the first time. Have wasted too much time with unreliable contractors and contractors who do shoddy work. Any recommendations are much appreciated.
This will be a total reno, floors/walls, new kitchen, new bath, fixtures, doors.
Post: Anyone Knowledgeable of Fitchburg, MA rental market?
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
I own a portfolio of 4-fam properties in Fitchburg. Any questions, I'd be happy to help regarding this market. Great market to cash flow if buying in a select few areas in town.
Post: Lender recommendations in the Fitchburg Leominster MA area
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Originally posted by @Justin Rank:
ROCKLAND Trust is great, it’s our go to big bank. They are closing an 8 fam for us right now. For locals, check out both Baystate savings and Atol savings, they are both portfolio lenders.
Happy house hunting!
I will get in touch with all 3 of them. Thanks for the heads up Justin.
Post: Lender recommendations in the Fitchburg Leominster MA area
- Rental Property Investor
- Melrose MA
- Posts 25
- Votes 19
Originally posted by @Andrew Freed:
@Account Closed Hi Arian. Great question. I tend to work with a mortgage broker, but from my experience, I would look at small local credit unions or banks that can offer these services. I would like to mention that normally these loans are accessible to people with pre-existing relationships with banks hence it is always better to get a warm introduction from a seasoned investor to that local bank.
In addition, I do know of a real estate meet up occurring in the Worcester area soon. Check it out, it seems like a great place to network with other investors in the Worcester area and get a lot of your questions answered. Below is a link:
https://www.biggerpockets.com/...
I hope to see you there.
Thanks for the info. I will jump in on that meet up.