All Forum Posts by: Demetri T.

Thanks for all the input.  I must admit I found myself leaning towards the "just let it go and keep getting the rent" but I did have some nagging concerns- seemed like I was missing something.  I think you, @Marcia Maynard, addressed my unsaid concerns in a way I couldn't quite enunciate and you did it very clearly and logically.  Awesome- Thanks!

Originally posted by :

... He may have already established tenancy at your place, by meeting certain legal criteria. So keep that in mind, since he may now be your tenant!

Our experience is that a rule breaker will usually break more than one rule. ...

You have a legitimate need to be aware of what is going on, to confirm it, and to address violations of your lease as they occur. Work with your tenant's Section 8 case manager too to keep your tenant honest. You have an obligation to do so, as per the agreement you signed with the Housing Authority of Yamhill County, if that is where your rental is.

...

I would not hide behind a lie that my tenant is living, nor condone it. I have a very good relationship with our Housing Authority and support them in making sure the recipients of Section 8 vouchers who live in our units are in compliance with what is required of them.

This was pretty interesting to me:

http://www.businessinsider.com/the-san-francisco-a...

The guy was in rent control for 34 years and when he was finally evicted he was not prepared for real world rent and didn't have a house he had paid off.

 Hopefully he had been saving the difference in market rent versus his actual rent and properly investing it- like NO ONE does.

that's where I thought it seems to be heading.... I am hoping for a magical alternative I suppose

That is probably part of it.  His income would certainly count towards the subsidy amount she gets.

I have a lie that I haven't had to deal with before and my inherited lease is silent about.

Tenant is a section 8 tenant who has approval for herself and her two kids.  However, there is another guy there nearly all the time.   Tenant assures me he is not "living there", that he is the children's father and is there a lot but he sleeps somewhere else.  I have been driving by and he seems to be there just about every time I drive though- early morning- early eventing- throughout the day!  (Though I haven't gotten up to go check in the middle of the night).  He does not necessarily cause trouble (so far a I know) but I am getting the impression he could not pass our background check not to mention the Section 8 thing.

I believe I have tried being reasonable with her and asking her about it and now I am pretty sure she is just lying about him "living there".

I am not opposed to trying to talk to her about it one more time before I just send the notice to her and the housing authority- though I think that would get her in a lot of trouble.  

What should I tell her in may last ditch effort to be the overly reasonable landlord?  Do I even bother trying to be reasonable? Other ideas?

Well done Evan.  It is always fun to find one close to home.  Sounds like a great deal for our area!

My initial thought is just a matter of liquidity. It's really a side note. If you do pay down, I would probably get the HELOC set up before (or simultaneously) you pay down the mortgage. That way if a deal pops up or you need the money you are ready to go right away.

Welcome Courtney,

What type of property did you get?  (House, office?)

As you probably already figured out- we are in an expensive area!  What types of property would you like to move forward with?

This is a big no no on the behalf of the sellers agent- at least here in Oregon.  He has an ethical obligation to present the offer.  Your agent should know that as well.  

Though in reality- I am not sure what would be accomplished by reporting them or even threatening to report them.  Ticking off your connection to the seller doesn't seem helpful. Maybe your agent an come up with a nice way to remind them of their obligation.

This article lists the county right next to me as one to rent instead of buy.  I live in the greater Portland area and the high purchase price compared to the rents does mean you have to be careful about what you are getting into.

http://www.businessinsider.com/housing-markets-to-...

I do notice that my area is quite expensive compared to some of the "deals" I hear about on the forums.  At this point in my career this type of article actually excites me.  Hopefully more people decide they just need to rent and leave buying to people like me!