All Forum Posts by: Bjorik Mutize

Agree with @Jack Medford on possibly reaching out to to a local Property Management company just to get a rental analysis

@Daniel Kramer Month to Month tenants will definitely give you a lot more control of your rental situation as pertaining to any defaults, lease breaches you have the right to not renew if need be. A lot of sellers do a quick screen and rent and use M2M while the property is being sold just for this reason and to say the property is generating income. Also, the same goes for the tenant for possible landlord negligence, they can leave with 30 day notice.

Only downfall for month to month is the volatility and uncertainty of what will happen every month. Assuming you assess and review what tenants you want to keep I would definitely try to negotiate longer term leases for your peace of mind.

Read on your state laws for any other specifics!

@Kyle Mccaw @Lucia Rushton Hopefully you guys wouldn't mind if i shoot both of you guys a PM soon. This is the next market, and it's surroundings, i have been looking to learn about outside of Minnesota.

@Jake Mchaley

Agree on the fact that deposit will more than likely be challenged. It always is. You wouldn't happen to have any documentation on those walk through's you did? Or like pictures/notes?

Yea you may be taking some hits on the final rent and additional expenses but the positives is you are going to be able to screen a fresh tenant to meet your criteria and add-value to a unit and maybe get a premium for it for future rent to come.

Obviously at this point hopefully you have gotten a security deposit at your close to help cover some of the damages but at this point in time i'd quickly just focus and dial in your energy on the unit turn so you can get get this rented quickly. A unit turn should be within 30 days.

If she is moved out already it is going to be difficult to chase after the last months rent. Is she moved out already? I mean you could continue with claims but i mean the time

Anyways, let me know if i missed anything so i can further help you out. Excited to see other posts.

Absolutely. @Danny Kao check out this blog post when you get a chance as well! 

https://www.biggerpockets.com/renewsblog/performin...

Agree with @Ed Matson Sometimes, but very rarely, at least the rent rolls will be included in the Offering Memorandum. Of course remember to screen the actual leases and maybe even bank statements to supplement when you do receive them!

@Michael Vi have you ever thought about getting your RE license?

Yea you aren't cash flowing. Good call being skeptical on this.

Is this in AZ?

@Jide Alufa smaller multi-family aiming and learning to scale into larger apartment units!