All Forum Posts by: Adam Yellin

@Richard C.

 ^ sorry didn't tag your properly

@Richard C.

Yes, absolutely agree. The second we are notified by the tenant we will be trying to fill their spot. 

So I've got these tenants right now that are perfect but unfortunately are going to lose them at some point as they are trying to buy a house.

They want to see if they can give us 90 days notice moving forward as their lease renewal is coming up. Knowing that the home buying process can take quite some time and they have not yet found a house, I do want them to resign a lease at least through the beginning of next Summer (a better time to find a new tenant). I'm thinking that a clause with the following might make sense:

Tenant agrees to renew the lease at XXXX rent through June 1, 2016. Landlord requires 90 days written notice to terminate lease. Tenant will be required to assist landlord in finding a quality replacement tenant with good credit and references. Tenant will be required to cover rent until replacement tenant occupies the unit.

In Massachusetts, unless the tenant can legally justify breaking the lease, they technically are required to pay till the end of term. I am ok with letting them off the hook if they can replace as they've been good tenants and I bet they have friends that might be interested in renting the place.

Any suggestions on additional terms to include?

 She would if she could...

Thanks! 

Invested in Boston as I've got a lot of family in the area so I tend to spend a fair bit of time up there. Saw a couple opportunities and my wife and I determined we should focus our efforts there.

Hi all,

Have been listening to the BP Podcasts religiously for the last couple of months and decided to join the forum. 

New to the investing game and currently own a rental property in East Boston, MA. Been looking to add to the portfolio in the Boston area (Salem, Lynn, Chelsea, etc.). 

Goal is to have 5 rental units cash-flowing in the next 5 years. 

Enjoying all the topics so far!