All Forum Posts by: Jeremy Anan

Nice move. Good luck.

We acquired this MF property couple of months ago. It looks like the previous owner paid the water bill for all the tenants whether or not it was included in the lease agreement. We are now in the process of renewing the lease for a few tenants (the ones that are supposed to pay their own water bills). 

How should we handle the situation since they are now used to not paying their water bill. Should we just send them the water bill statement or should we attached to that an explanation to why they should now pay their portion of the water bill?

The property is located in MD and the water bill is would be divided by the number of tenants including the laundry unit. 

Thank you for your help.

Hello BP - 

Is it a requirement to have a fire alarm monitoring system on a multi-family property in Baltimore City?

Will the lack of one results in any fines/fees from Baltimore City Fire Department?

Thank you

@Shaun James, they have my EMD.

Hello BP!

I recently bid on an online auction property and finished as the highest bidder. I increased my EMD to 10% of the price within 24 hours. I've then signed the contract. Unfortunately, the property didn't appraise, and I need to back out of the contract/run.

There is a financing contingency that reads “Financing. Buyer’s obligations under this Agreement are NOT CONTINGENT upon Buyer securing any financing in the purchase of the Property. If Buyer chooses to seek financing, Buyer may do so at Buyer’s sole risk and expense by submitting a mortgage application to a mortgage lender or mortgage broker within five business days from the date of this Agreement, but the failure to apply for or secure financing in the amount or time or terms desired by Buyer shall not excuse Buyer from timely performance of all obligations under this Agreement. Owner agrees to grant access to the Property for appraisals sought by Buyer, but if the Property is leased to one or more third parties Owner agrees only to request that the tenant(s) grant such access; this Agreement is NOT CONTINGENT upon the conduct or results of any appraisal.”

I am exploring ways to get away from the contract and not lose my deposit.

Thank you

@Patrick M. What's the tenant's motivation is none of the landlord's business. Is there a downside to the landlord if the tenant installs a camera? In my opinion NO.

Good to know. Thanks for the info.