All Forum Posts by: Deborah Burian

@Joel Owens - I'm not anticipating giving notice before lease end, both of these are annual leases and will end in the next 6-10 months. I'm just having an internal debate as to whether I should tell tenants early that I anticipate not renewing their lease. Especially three-dog-tenant as that one is likely to have a hard time finding their next place.

Of course, if they don't pay that's a whole other scenario but I have ample experience with that, unfortunately.

@Al Williamson, not to hijack the OP's thread but I'm getting pretty close to my next $100 as well :-).

I have recently purchased a small multi-unit and anticipate not renewing leases for a few units, either because of repair needs or in one case, because we will be no pets and the tenant has three dogs...

Do the more experienced members here have any words of wisdom on when and how to notify tenants they will not be renewed at lease end? My inner social worker wants to tell them as soon as possible. My inner manager says wait til the 30 days in the lease. (the inner two have been in conflict throughout my career)

Any thoughts would be much appreciated.

@Luke W. - once I quit buying properties, I started setting aside 5% of gross rents for maintenance reserves... just in time to incur a completely out-of-the-blue foundation repair. Was I ever happy to have a reserve. Until I was done buying, I just tried to stay a few thousand ahead and in good standing with my banker...

@Al Williamson , I have heard of discounted gift cards... do tell where you find them please?

@Jon Klaus - I'm going to venture a guess that J Scott means that you should be reserving for the long haul... the capex will come along and it's better to have the $$ set aside.

ditto to @Dawn Anastasi

I'm having the same issue...

I can spend my time far more profitably working on my own portfolio now.

@Nicole A. - in my personal priority order...

1) supplement LLC emergency fund if needed

2) Use toward any planned upgrades

3) Pay down debt

That's where we are now. A year ago, I'd have used it toward the next purchase unless the emergency fund was empty.