All Forum Posts by: Caleb Christopher

@Alex Olson thanks for the context. I'll have to research roommate agreements!

Because you are required to charge late fees if that's what the lease says... And they can avoid those fees by doing something like I suggested above.

@Nathan Mount

I say with the cosigner, let the tenant know you intend to contact the cosigner. Give them the chance to do it first. Suggest they maybe borrow the money from the cosigner and start paying THEM at the end of the month rather than you.

@Diego LLerena

I say non-click. I believe it's easier to replace some pieces of glue or peel and stick than the type that snaps together.

Yes, talk to the other property owner.

If you can get an agreement to either give, buy, annex , or rent the space (find SOMETHING), you're in good shape.

I would not want to lock up money in a potential court battle though.

@David McClain

I like the spirit of your acceptance of the contingency. I may well have done the same because I thought they were the right PERSON. What I just learned though is that the right person is a nice-to-have and not a functional requirement of the sale.

So my lesson is that making a potential deal-killing concession for the nice-to-have benefit of selling to a kindred spirit is not worth it.

@David McClain I'm not roasting you here, but I want to make sure we all get to share lessons-learned.

So this lesson learned is about exit strategies. On this case it bart have been unavoidable, but it sounds important to have more than one exit strategy from the start.

Needing capital back limits or eliminates the rental option, and that's tough.

I know you're still trying to figure out the right answer but I wonder if you'd let us know how you'd do things differently (if at all) based on these lessons-learned.

@David McClain

So that's a lessons-learned for all of us. And it was on the BP podcast too (IDK what episode)...

**If you have a number in mind for an appraiser, you have to do the work ahead of time to go get comps and show how your pretty is either similar or different.** After the fact is too late.

You can only do so much, but most appraisers (according to the podcast) would at least look at what you have to show. It may make their job easier, for one thing.

You can't "influence" but you can sure make it easy for them to do their job.

Are there any laws limiting a landlord from renting out each bedroom separately in a single family home?

I'm not finding anything when I search here or Google. If I'm missing something, feel free to send me the LMGTFY link, lol.

If I understand the situation correctly, it sounds like it was a nice gesture. but it was their nice gesture, and not yours. Why do you have to pay for their nice gesture?

I wouldn't choke on the $100 so much as the way they went about it. That said, this is something that's not worth burning a bridge over. You can have the conversation so that now you know and now they know in the future that it's not appropriate to spend your money on their own charitable efforts.