All Forum Posts by: Kaiston Terry
Kaiston Terry has started 2 posts and replied 6 times.
Post: Renting to Unmarried Couples
- Lincoln Nebraska
- Posts 6
- Votes 2
Quote from @Scott Trench:
Oh and one more thing - the problems for you as a landlord are relatively unlikely during this lease. The trap that I fell into a few years ago, in a similar situation (where girlfriend qualifies, but boyfriend does not) is after they broke up and the lease ended, she moved out.
I signed another lease with the boyfriend, who wouldn't/didn't qualify on his own.
Do not do this. That situation ended with the boyfriend allegedly causing huge problems for neighbors, and did not get resolved until he vacated the property, after being arrested and sent to Jail. Not fun.
Do not renew with the unqualified tenants, should there come a time when the qualified tenants want to move out and the unqualified ones wish to stay.
Okay I will make sure to clearly state in rentals that each applicant must individually qualify and apply.
I really appreciate the advice and feedback as it can be quite overwhelming when getting into real estate investing and this platform has helped significantly with getting me into the right direction
Post: Renting to Unmarried Couples
- Lincoln Nebraska
- Posts 6
- Votes 2
Quote from @Scott E.:
Do the sisters qualify on their own?
With their income combined, yes
Post: Renting to Unmarried Couples
- Lincoln Nebraska
- Posts 6
- Votes 2
I have a 3bed 2.5ba home that is for rent and had 2 sisters and their boyfriends apply to live there. The sisters had a great rental history, credit score, etc. But neither of the boyfriends had any rental history as they were coming out of college or owned their current house and were selling it and had low credit scores.
With this being my first rental, is this a good rental scenario or is there a way to structure a lease to hold all parties equally liable?
Post: Is it worth Turning Duplex into Quadplex?
- Lincoln Nebraska
- Posts 6
- Votes 2
Thanks so much for the advice! I did some research on the zoning and they only allow up to a duplex so it is not legal to meter or operate it as a quadplex.
Post: Is it worth Turning Duplex into Quadplex?
- Lincoln Nebraska
- Posts 6
- Votes 2
So the property is advertised as a duplex since the bottom units are not metered separately from the top. So in total the house has 2 sides where each side has 2bed 1ba upstairs and each side has 1bed 1ba downstairs with kitchens in both top and bottom.
The problem is that the bottom units are metered with the top units so i could rent it as 4 separate units but then basement units would be in same utilities as top units.
Post: Is it worth Turning Duplex into Quadplex?
- Lincoln Nebraska
- Posts 6
- Votes 2
I have the opportunity to buy a duplex where both units have 2bed 1ba upstairs and 1bed 1ba downstairs. The downstairs has its own walkout basement, kitchen, living room, and thermostat.
Would it be better to meter the downstairs separately and turn it into a quadplex or just rent it out as a normal duplex with each unit having 2 kitchens?