All Forum Posts by: Johnathon Griggs

Hooray for financial freedom!

Whoa, that sounds like a mess, @Andreas Blomst! Best of luck to you.

Johnahton

When you say "shared drive way" I'm assuming you mean that it's two driveways that happen to butt up next to each other with a distinct property line somewhere. Otherwise I'm not sure how it could be private property and have two different owners. 

You could: 1. Place a "Private Driveway - Do Not Block" sign somewhere 2. Erect some sort of divider between the two properties or 3. Place a "[address] Parking Only - Vehicles Towed at Owners Expense (a little more drastic obviously, and you'd have to look into the details on that one for sure).

Best of luck with that!

Johnathon

I like it!

@Robert Niosi

This could also be a structural issue. For example, if a load bearing wall or support was taken out (sounds like maybe in the basement?) and the above floor/ceiling was incorrectly supported, it could cause sloping. So, yeah, you'll want to have a contractor/inspector check that one. ;)

I forgot to ask, in an instance like this, how do you "let them out of the lease" and have legal documentation? Would this just look like modifying the original lease date and having them initial it? Would it be an addendum of some sort?

Thanks, 

Johnathon

@Account Closed: Market timing and using the equity for other investment opportunities is my primary reason for trying to get out of the lease early. I've always believed the market to be best early summer... where could I get some hard data on this subject? Not everyone is as lucky as you in attracting over-asking offers within a weekend... during the winter. :)

Thank you all for input! I was very helpful in thinking through the options!

Johnathon

Bottom line: What do I need to do both legally and personally with tenants in order to terminate a lease early? (I'm simply looking to put my house on the market during early summer.)

I have a property in Central Florida that is currently under lease until August 01, 2016. I would like terminate that lease May 1, 2016 in order to remodel and put it up for sale. Are there any legal documents that I need to be aware of (i.e. required addendums, etc. outside of what my own lease specifies... which doesn't cover this issue)? I have a very good relationship with the tenants (and you couldn't ask for better!) but I'm not sure what the best approach for this would be, this is a first for me.

Appreciate any input!

Johnathon

@Jason Branum

Did you get the 20 unit complex? If so, what has been your experience so far? Has it agreed/disagreed with comments above, etc.? Simply interested to know how things turn out for others and what hindsight comments might be made.

Johnathon

Just as a note to those who have participated in this conversation so far, my wife and I have a SFR that we own and have rented out for several years. As we look to get more involved in REI, this sort of thing just makes me ever more aware of what it's like to be on the other side of the fence and the need to treat others as equitably and responsibly as possible with good, open communication!