All Forum Posts by: Derone Patterson

Give notice of non-renewal , in some states that is longer for the disabled.  Check your state landlord tenant guidelines.

don't worry about the tenants feelings to an extent. If you raise the rent $175/month is it worth it?

If a make ready and new tenant acquisition will cost you less than $2100 then send them a lease renewal and raise the rent. If they move its ok. Your new tenant will make up the difference. 

The other comments suggesting a background check is good advice. I'd leave the tenant on a month-to-month basis and not renew the lease for a bit until you know him better. If he causes problems, end his tenancy. If he is good, then sign a renewal.

So you are converting a duplex to a 3-plex?  Your tenant might leave on his own because he doesn't like all the noise and inconvenience of construction.  Ask the current property management company for a bank roll on the unit to see how long he has been there and what his payment history is like.  Make sure to have good communication with the tenant about your plans for the property.   

@Derone Patterson Congratulations on your purchase!

I would start by getting any info on the tenant that you can from the current owner. You really need a copy of his rental app, lease and background check. If no BG check, then run one yourself. Then you can make an informed decision about whether to keep him or not.

If you decide to keep him, be sure to get an estoppel letter. This is basically a form where the tenant tells you if there are any agreements with the landlord that may not be in the lease. You don't want to hear later: "I know my lease says my rent is $500 per month, but the landlord said I only have to pay $300."