All Forum Posts by: Eric Huebner

Thank you Thomas!

Hello BP Nation! Quick question for you... My family has always rented out very basic apartments in an 8 family set up in Wisconsin. Our lease addendums cover all the bases. However, I recently renovated a duplex from 1900 that has some historically unique features. Specifically, I vaulted the ceilings to expose the original hand cut beams (think barn construction). My question to you is if anyone has a specific addendum in their lease that addresses leaving all historical aspects of the home as they are? Do you have specific language in an addendum that spells out a financial penalty to altering historical aspects and covering the cost to bring them back to original condition if altered by the tenant? Basically I want to make sure that I have a strongly worded addendum to discourage any tenant from drilling holes, painting, or destroying these beautiful historical beams. If anyone would be willing to share their viewpoint or what they use in addendum for this situation, I would really appreciate it.

I received the terrible news that a long time tenant of ours (an original tenant when my family purchased the property in 1987) passed away yesterday. What should I do as a landlord in this situation? We are located in Wisconsin. He lived alone, but has family members in the same town. Some questions I have are: 1. How much time do I allow the family to clear out his personal property? 2. How does the lease legally end? I would think that in the case of death, the normal 60 day notice to terminate the lease is not in effect. Or is the estate responsible for 60 days of rent or until it is rented, if earlier? 3. Do I, as a landlord, need to give any sort of written notice to the family/estate? If so, for what? 4. How or where can I get in contact with the estate if there is damage to the unit? How long does it take to sort out this type of thing? 5. What else do I need to be aware of in a situation like this? Thank you for any advice offered. I hope these questions don't come off sounding heartless in this format. I just want to do the right thing and know what expect.

Thank you for the feedback Andrew Holmes!

Hello BP members! This is my first post on BP, so here it goes... I am interested in buying a bank owned foreclosure on the MLS in my area (Wisconsin). When I contacted the listing agent I was told that the bank would not take offers for 7 days, then only owner occupant offers would be accepted for the next 14 days before any investor offers would be accepted. This is the same format that HUD uses, but this is not a HUD home. Why would the bank use this format and not accept a cash offer from an investor right away? Has anyone else experienced this? Any advice? Thank you!