All Forum Posts by: Bruce Shiba

I'm actually planning to do a 16%~ increase. Assuming notice is given on/before 5/15, this can go into affect on 8/15 with a signed new lease agreement effective 8/15/20? (thanks for the MTM tip)!

- (90 days, and current lease expiring 6/15) 

*This is obviously my first year* - I appreciate any insight!

-Bruce

Context: House hacking with an owner occupied single family dwelling. One of my tenants lease will be up in June 15. Currently, month to month rent is the default option after the lease expires. 

I'm wondering if a) I can increase rent at all (or did I need to give notice 2 months in advance) and b) if the tenant signs another lease, can that be for higher rent (annual, month to month, etc.)

Essentially, I want a higher monthly rent payment for the increased exposure of not having a tenant for the entire year. 

Can this be done?... or does the existing lease that defaults to month to month supersede a new lease that's month to month?

Thank you!

Thanks for the reply Derek. To clarify, I’m throwing out the idea of a career change (personally), and I’m looking for recommendations that could accelerate my learning and commitment to the industry. My long term goal is to have a niche/value add that I can bring to the table for years to come. Does that make sense? Not like an agent or broker, but someone behind the scenes that knows the numbers and financing/different avenues of funding a deal because of their background/work experience. That’s why I threw out underwriting as an example. I appreciate any insight you may have - thanks!

-Bruce

Personally, I have analysis paralysis - I want to know the numbers and financing - where should I start? 

Underwriting? Any specific companies? Residential or commercial lending?