All Forum Posts by: Lorraine Martin

We can terminate if all parties agree that’s no problem. But I’m trying to figure out my rights for the lease they sent me. I want a limit on vehicles, they are refusing to put that. Can we refuse to sign is what I’m trying to figure out. 

Does this give us rights to say what we want on the lease?

Hey everyone. I have a property management question!! Please help!!

We are landlords and hired a management company. Long story short, we decided we want to manage it ourselves after they started the “advertising for the property.” Management company said they had an applicant that applied and they were in the middle of reviewing the applicant and therefore if they “approve” we have to use them and then they will give us management.

As landlords, we just received lease to sign and there are some addendums we want to add for our property to protect our property etc. if the management company refuses to include some of our requests for the lease, does this give us an out to not have to sign the lease???

are we allowed the right to ask the management company to provide a copy of the qualified tenants driver license? The management company is being very limited in what they tell us. They wouldn’t tell us the business they do. The income doesn’t even cover rent amount. Guarantor is involved. I feel obligated to sign this lease but we are just trying to figure out our rights.

They already collected security deposit. My head hurts from it all. I wish we could have taken over early enough to do the application process ourself etc.

Asbestos!! We are trying to figure out what to do with our rental property we are fixing up. It has flooring that we are pretty sure had absestos. My husband is handy. Should he remove? With a mask and be very careful? 

should we just cover it up?

ceilings in basement we aren’t sure if they asbestos but they don’t look very nice so trying to decide what to do with the ceilings to, it is ’ functional but trying to improve property - it’s so expensive to hire someone to remove asbestos 

Hey thanks! So if you get 10 different people interested, what do you typically  say to those that  apply and aren’t meeting your requirements? Like with the lower credit score or background report red flags?

Hey Yall, we are looking at putting an offer on a house we saw today. Currently house has 6 dogs inside and 1 cat! I am trying to understand how you all approach inheriting tenants with this situation? 

They are currently on a month to month lease. They have no desire to leave. They are paying good for the area. I am just not sure if I want them to stay and if I do, I would think they need to pay some kind of pet deposit with our lease agreement? 

Hey Landlords!

What are your main requirements when seeking new tenants? 

Credit Score of?

Background check for anyone over 18?

Do you allow negative trade-lines at all ? 

How many references? 

Income three times rent? 

Thanks! 

Hi Yall, my husband and I are wanting to build our investment portfolio. Which is the better route to take? Conventional or Commercial? We have cash to put down for both. We were told commercial loans reduce the liability for you? You can put in LLC ? Is this true?

We want to get probably 8-10 more properties total. 

Hey Yall, so we are trying to figure out if our next primary home is to expensive to buy in order to be wise and leverage our money and get more properties.

Right now we are approved for 30 year conventional up to 450000. 

The house we like is is 224000 loan amount for 30 year conventional. 

Then we would have to re apply with new debt/income ratio! What is best strategy to know what our loan amount should be.... I dont want to run out of cash to borrow from bank right now we have like hardly no debt but when we get this house it would really change things!