All Forum Posts by: Erika G.

Jon S. It's a duplex in Fort Lauderdale. It's in a really nice area so we're really excited. There's currently one tenant with a 12 month lease and the other is not on a lease as the seller didn't want to renew it because she was selling it. So now I have to figure out what to do with them from my understanding they would pay the rent late:(.

Jon S. Hi Jon, I was reading your post and just wondering is she has been paying on time? I just closed on a property last week in Florida so reading these post are really helpful.

@Thomas S. The market value in the area runs anywhere from $1,700-$2,150 because it's in a really nice neighborhood with A+ schools. You can't find anything below that...but what I was trying to say is that if I raise it and they leave than I would want to do some remodeling before renting it out again. 

@Marco G. You bring up an excellent point! I would have to remodel the two bathrooms and install new windows in order to probably bring it to market value and that's not something that I can do right now so that weighs heavily on my decision. I'm thinking of maybe not raising it to market value instead raise it about $100 which would bring to $1,500 vs. the $1,700 market rate. Or the max of $150 extra.

Greg, thanks for your advice and your response makes sense. It's something that we've been debating.

Hi all! I'll be closing on our first deal sometime this week. It's a duplex with one set of tenants that are on a yearly lease and the other is on a month-to-month. My question is if I should make the month to month sign a 12 month lease or keep them on a month to month. They've been renting there for about 2 years now but since the seller was thinking of selling she didn't want to have them sign a 12 month lease.

My other question is that the month to month tenant is currently paying about $300.00 under the current rent market. I think that if I raise their rent to the current market they won't be able to afford it and leave. My thoughts are to increase it by $150 for now or at most $200. Any thoughts?

My mom use to own a vacant lot in Lehigh Acres and although I know the city has been grown over the years there's still a big selection for renters to choose from so that's probably why they don't care to get up and leave. Sorry to hear about your situation.

What city in Florida is the duplex in?

There's also a wind mitigation inspection that they also require if you're getting windstorm coverage.

I believe that what you're talking about is a 4 point inspection. Since in Florida there's only one major insurance which is run by the state it's called Citizens they require an inspection in order to determine if they will insure you or not. And yes if the inspector gives your roof no life left this they will not insure you.