All Forum Posts by: Jimmy S.

sent a colleague request, It wont let me PM you. thanks

Hi Ray

Im from PA also and all bank I came across (about 10 I checked) will want 20% or 25% down if its a investment property. Im also looking for ways to find a lower down payment. You can use a LOC or something without them knowing.

Tenant is pack up and moving out early and Im not sure how to write a lease termination agreement? Anyone have a template or and give me a guideline so it looks professional.

Thanks

Does any one give refunds on heating oil? Lets say tenant moves in and its empty and moves out and say its 1/2 full, would you give them a refund?

I always leave it empty because tenants will never pay you if its full when they move in and empty when they leave.

It has not happened to me but figure I should get some input in case it does happen as a landlord.

It does say in my lease

IF TENANT VIOLATES THE LEASE AGREEMENT, THE LANDLORD MAY SUE EACH TENANT IN COURT:

1)TO COLLECT OVERDUE RENT, LATE CHARGES AND MONEY DAMAGES CAUSED BY TENANT’S VIOLATION OF THE AGREEMENTS IN THE LEASE.

2)TO RECOVER POSSESSION OF THE LEASED PREMISES (EVICTION).

3)TO COLLECT FOR UNPAID RENT UNTIL THE END OF THE LEASE OR UNTIL ANOTHER PERSON TAKES POSSESSION OF THE LEASED PREMISES AS A NEW TENANT.

Tenants are getting a divorce and will be moving out 7 months early and breaking the lease. I specifically told them before moving in if they break the lease they would not get their security or last months rent back. I will be out at least 1 month rent minimum from them, moving out early. I kind of feel bad for her since they are getting a divorce she seems to try and is honest.

Would you keep the last month rent and also their security deposit? They are good tenants but with that said they are moving out. I was thinking giving them a couple hundered back if they leave peacfully and clean the place as it was when they moved in.

I did advertise the unit with a washer and dryer which would stay from the previous tenant left. Washer broke and tenant told me and wants me to buy them a new one. I told them the previous tenant left and they could use it.

I kind of think I am, but its not spelled anywhere in the lease about landlord having to fix the washer/drying since I did not buy it or provide them with one, if was left from the previous tenant.

What would you do in the case?

Sure its possible but I would think Its going to be very hard in 10 years. If you make $300 a month on each property you would need 34 properties and that would assume that none of the tenants don't screw you over which are bound to happen if you have that many and also if nothing major goes wrong with them.

Was thinking of switching my tenants over to ACH transfer but am lost and new to ACH which is why im here asking?.

How much does it cost each transaction and what is the best way to set it up safe and securely?

Thanks

If a tenant leaves the property damaged when they leave, do I need to have a professional estimate for the damage or can I just use reasonable repairs cost by myself?

Also how do you handle returning the security deposit if any is left? Do you attach a paper saying x amount of damage was caused and the cost?