All Forum Posts by: Bobby Balentine

I recently spoke with another REI about window units. He said that he charges 75 dollars a month extra for each unit in the house whether or not they are being used. Meaning the tenant claims they don't use them to get out of paying the extra 75 dollars. He does this when he pays the utilities and includes it in the lease.

Does this happen often and is there a better way to make up the extra cost of electrical use?

Carl, another question for you.  The tenants with the current landlord were originally on a yearly lease.  They have since expired and moved to a month to month.  This seems to coincide with the pending sale.  Would you recommend a month to month continuation and then if they are still good tenants go back to a yearly lease?  

Thank you.  I will look into those options and webpages.

Hello all! I am new to real estate investing. I have my first contract on a large single-family home that was converted into a triplex. A little information before I get to the question. The current landlord does not seem to have good records for the property. (ie maintenance/repair or capital improvements). I know that the roof and siding have been replaced within the last 2 years and a furnace is being replaced at this time. Other than that, no more information. There are 3 separate units (1-2bed/1bath and 2-1bed/1bath) but they are not metered. The landlord pays all utilities. The units rent is $550 for the 2 bed and $475 for each 1 bed. According to biggerpockets BP insights the rents should be closer to $700. So, the question would be if I took possession of the property in say April and they are on a month-to-month lease, when would be a good time if any to increase the rent to market value and would you do one big jump or stagger an amount over time to get there?  Are there any other insights or things I should be thinking about?  Thank you in advance for your comments and help in this situation.

Thanks for the responses. 

What does it say to you if you find properties that are for sale that are owned by a company who hasn't paid the property taxes since 2018 on all of the owned properties?