All Forum Posts by: Lorien Rollins

Thanks, Wyatt! 

Charlie, I'd be happy to hop on a call or send via email as it could get lengthy. I have extensive NC lease knowledge.  I've used NAA leases for over 7 years now, and have a lease in place for my own LTR. Feel free to connect so we can go over specifics! 

Artfully,

Lorien

BB's are such a pain! If the unit is connected to another, you'll need to notify all tenants (if occupied) and schedule heat treatment(s). I've been through this numerous times (unfortunately), but the tenants brought them in. Refund them, treat the unit(s), and move on. I would also disclose to next tenants, and show pest control / tech invoice (for reassurance). I'm so sorry you're going through this!

Hey there! I use PayRent and RentRedi (all in one), Appfolio (all in one) is also very popular and tenant portal friendly (I've heard mixed reviews on the owner portal side). Feel free to reach out with any questions on the software that I utilize.

Artfully,

Lorien

Chiming in here to second @Nathan Miller and @Greg M.for the realism, I giggle because I have been in this same situation, except the tenant was walking her dog, at night, with no proper light, outside of the property (and outside range of our exterior lighting). Albeit popular to respond immediately to a tenants 'demand for compensation', I too do not see how you're liable here. She is still required to pay rent, and if she does not, move forward with late fee, letters, and eviction if necessary. Relieved your PM has move in conditions and images, this should help, should tenant attempt to sue. Good luck!

David, I strongly second @Nathan Miller on this one.

referring my favorite MLO @Wyatt Wolff

referring my favorite MLO here on BP @Wyatt Wolff

To clarify, the property is 50% occupied and you'll purchase that way, yes? They are currently paying $675 (Section8) but the potential is $1,200 once upgrades/required maintenance is complete? Are they long term tenants, and that is why you only intend to raise rent by $100? The program grants up to 50% per HUD income guidelines, which can range from 25k-101k, depending on the number of occupants in the home. The Law for occupancy is the same as here in NC, two adults per bedroom, occupancy can be five adults, with proven extenuating circumstances. The point I am rambling on to make is that if they're good tenants, pay on time, and are interested in staying you have the 'power' to increase to your benefit. I'm not saying rip them to shreds and make it difficult for them to stay, however, the variance is available to you. I think owner occupied is smart while you renovate. I would also consider discussing occupied renovations with the current tenants, when are their leases up for renewal? This way you can get those upgrades completed prior to their renewal and increase the rent to the max per Section 8 when the time comes to renew, thus shortening the length of time you'll be 'losing out' on the potential rent increase.

Are your student loans lowering your DTI?

Dante, amazing! Thanks for putting so much detail into the post. Tagging my favorite MLO @Wyatt Wolff.

Hi there, David - what State is this deal? I'm a seasoned property manager and can reply better with a bit more information on your 'plan of attack'. I have successfully completed occupied renovations, renewed/nonrenewed tenants, etc. I'd love to provide some deeper insight.

Also, tagging my favorite MLO @Wyatt Wolff

Artfully,

Lorien