All Forum Posts by: Doug Minton

@Jacob Forbis I agree with Aaron, and yes you should be cautious. For us, $25 doesn't seem like much. We're talking $300 per year, so you need to consider what your current cash flow is and if it is worth the risk, since that $25 could put them over the edge. However, me personally, if I had a prearranged agreement, hopefully in writing, with the tenant to increase the rent due to the new alarm system being installed, then I would hold them to it unless they asked to renegotiate. If they didn't bring it up, then it's business as usual.

One another note: Not sure why you would purchase an alarm system for your tenants. That just gave you an additional expense if the tenant leaves and you have a vacancy. That is assuming you have a year, or longer term contract with the alarm company. Just a thought.

If they're good tenants, then you should work with them as long as they can still pay their rent on time. But the minute their late, send out you late notice and start the eviction process. Remember, you are running a business not a charity. Also, you should be glad that at least your tenants are communicating with you. That shows some promise. Hope that helps!