All Forum Posts by: Jeremy G.

Thank you everyone for the great replies! I think a lot of this information will be valuable to me

I have added more criteria to my add as well as increase my asking rent to $1100/month, the emails and calls have slowed down considerably since the start of this thread, thankfully. I will absolutely be considering doing an open house rather than individual showings as my time is so limited right now it would be nice to get 5-6 showings out of the way at one time rather than waste 5-6 hours hoping people show up at the time they say they will.

and thank you TurboTenant for making the landlord process a bit easier for me, a serious newb to real estate

thanks guys, I have been pretty clear in my adds, but il[l try to add more to filter out additional time wasters, i think a lot of these people dont even actually read the adds and just go straight to the contact button

I have posted 2 apartments for rent over the past 2 months and i get absolutely bombarded with emails and calls expressing interest and asking to set up showings, I am overwhelmed.

I just recently listed a 3 bedroom apartment for $1000/mo tenant pays utilities, w/d hookups in the unit, extra storage space and a nice back yard. listed 3 days ago, 75 people have contacted me and im running out of time and availability to show it to everyone thats interested, it just wont be possible. im in a small town in NH and im very new to real estate, but is this normal? my appraisal and everyone ive talked to including people on here said the going rent in my area is around $850-$900/month for a 3 bedroom, but when i look I cant find any 3 bedrooms for rent for under $1250/mo within a 30 mile radius. I currently have a very long term tenant (20 years) in a 3 bedroom for $200/week, and now this new yet good problem of too many people interested o.O im worried ill make a wrong choice picking a tenant.

BTW i have been using craigslist and turbo tenant to market the apartment. , I require prospective tenants to apply through the turbotenant application which costs $45.00 for the tenant

any advice? 

How appropriate would it be to remove it and relist it at a higher rent to test the waters? even though I have currently set up showings with some prospects?

the last time i listed an apartment I had multiple people offering me more than what i listed it for.

@Nathan G. Thank you for the input, its my first property and theres so much to learn i try to research and learn as much as possible but working 3rd shift and being a single parent makes having time for everything else tough.

I'm thinking they will just store stuff in the apartment until the 30th and hold onto the keys unless i offer to refund the rent. 

@Nathan G. let me just put the whole conversation here so you can be the judge.  btw I was mistaken she told me on the 2nd that shes moving out.

Tenant: wednesday 31st: Just letting you know we are looking for another place to move.

me: wednesday 31st: okay, have I been unreasonable or a jerk? or is there another reason?

Tenant: wednesday 31st: I think it's just not a good fit with my normally active kids and your schedule, I also have some concerns about the neighborhood not being family friendly, believe me, having to move again so soon is not what I want to be doing, I had hoped to be able to stay here for a long time, but i just don't see it working out long term.

Me:wednesday 31st:  Fair enough, it's going to be hard to have the banging jumping and running around at midnight acceptable anywhere other than a single family house, But i understand completely, please keep me posted and give me a 30 day notice so I can start showing the apartment.

Tenant: Saturday 2nd: Hi, I am starting to move out today and will be out by the end of the week if not sooner. will let you know.

Me:Saturday 2nd: Wow, more notice would have been the proper thing to do but great the sooner the better, I'll need the keys back and ill have to do a walk through to make sure nothings damaged before I give your father back his deposit.

Tenant:Saturday 2nd: Right, well we are paid through until the end of the month.

Me:Saturday 2nd: If you're staying the whole month then you are welcome to but i need proper notice and a date that you are vacating. I will be showing the apartment this week either way but it would be appreciated if I could give any prospective tenants a date of availability, i would really appreciate it, you'll have 24 hours notice before i show it.

I got no reply to this message then it was almost 11:30 pm and her kids were running around like wild banshees and my childs trying to sleep.

Me:Saturday  2nd 11:17pm: This noise can not continue this late at night, it's waking my daughter up.

Tenant:Saturday 2nd 11:18pm: You've complained everyday since we've been here. it's our last night here, Just drop it.

Me:Saturday 11:19pm: That's entirely false this is the most abnormal activity I've ever experienced, i've been more than reasonable you don't have to be rude.

then she started slamming the floor as hard as she could and i sent the next text

Me:Saturday 11:20pm: Should I call the pd, maybe they can help you?

Tenant:saturday 11:20pm: Sure, like i said. it's literally our last night here.

that was the last text i received from her aside form a text from her father asking to pro rate the rent

@Ann Bellamy

Thanks for the reply, I didn't think I was violating NH law by accepting partial rent for october because while researching I find this

"New Hampshire state law limits how much a landlord can charge for a security deposit (one month’s rent or $100, whichever is greater, though is no limit if the landlord and tenant share the rental property), when it must be returned (within 30 days after a tenant moves, or 20 days if the tenant and landlord share the property and there is no written agreement specifying when the deposit will be returned), and sets other restrictions on deposits."

"New Hampshire

One month's rent or $100, whichever is greater; no limit when landlord and tenant share facilities"

"540-A:6 Procedure. –
I. (a) A landlord shall not demand or receive any security deposit in an amount or value in excess of one month's rent or $100, whichever is greater."

The security Deposit was $996 equal to one months rent.

I did not charge the tenant this rent for october, infact I wanted to wait until November first to have them move in and only accept security and 1st month, but they practically begged me to allow them to move in on the tenth and offered to pay me daily rent for the rest of October. So I dont really see how thats violating the law, I did not make it a requirement that they move in october 10th and pay me for october and november. 

at any rate, I've contacted a landlord/tenant attorney  because I can see now that they will be a valuable resource and that there is too much conflicting information on the interwebz.

At this point I dont even care if an attorney costs more than just refunding them the remainder of the rent, The fact that she was so rude disrespectful and obnoxious while living here and treated me like I was out of line, really irritates me I dont like being irritated and I like winning.

Thanks!

Jeremy.

P.S Make sure you vote red tomorrow or the socialists will win and entrepreneurship will die

I just purchased a multifamily property with the same kind of situation, only difference is it wasnt commercial and the tenant wasn't paying any rent. it was a 6 month process to finally get the guy out, and it did end up having to go to court, multiple times. The guy would not accept cash to leave, he would not accept help finding another place, he just wanted to be a royal loser and make everyone miserable, in the end it took 2 different court orders, 2 different sherriffs, 2 different times to physically remove him from the property, the first time he was removed, he filed an appeal with the supreme court claiming he was a military veteran and in hardship, all false.

 in the end, i lost about $6,000, by having to extend the close date multiple times, and having to keep extending my rate lock, as well as losing the money from the potential rents I was expecting and having to pay bills in a property I was no longer supposed to be in as well. the sellers constantly tried to get me to close, but the sale was contigent on that apartment being vacant so my daughter and I could live in it. they offered escrow to cover the rent he wasnt paying until he moves out, but I needed to move in and it took 3 more months to get him out after they offered the escrow. either way It wouldn't have worked. I should have walked away from the deal after the first 2 months. But I had already been searching for a property for almost a year and was desperate. luckily its a cash flowing property and rents are crazy in the area right now.

But having just gone through the same kind of issue, i HIGHLY recommend you do not close until the loser is absolutely positively gone period it could be months before the courts finally remove him then he could try some shady underhanded crap to appeal the eviction. Im a newb but I would never go through this kind of deal ever again as long as I live.

Thank you for the reply, you confirmed my initial thoughts. Just to clarify, I did not promise a refund of the deposit, I told both of them the security deposit would be refunded if the apartment is in the same condition it was in when they took the keys, I understand exactly what you are saying though. I will keep my mouth shut about such things, and yes it is clear to me now that she was extremely irresponsible and disrespectful, though I did screen her father very well, full credit check, employment check, background check, bank statements etc, clearly that didnt mean much. i took a chance with this one as my first tenant and I learned some valuable lessons.

So, here is the current situation, she moved a lot of stuff out today and she will no longer be sleeping in the apartment, she told me the 3rd was the last night she will be there and that she'll be out by the end of the week, But now they are refusing to give me a date that she'll be officially out, I think they are now going to try to hold the keys until november 30th.. so my thoughts are if I show the apartment this weekend, and all of her stuff is gone and I have proof of text messages saying she'll be out by the end of this week, I should be able to legally change the locks and rent the apartment right?

Hello BP!

I purchased a 3 unit multifamily property in august of this year, it was occupied by 2 tenants and I moved into the 3rd unit, when signing new leases for the existing tenants one of them gave me notice to terminate because he bought a house, good for him! took me a couple weeks to screen and find a new tenant, but I found one with a great co-signer who agreed to pay for all rent and any damages that may occur, AWESOME! signed a month to month lease with the possibility of going long term, this was on the 10th of October. the father paid 996 security deposit, 996 first months rent for November and also paid daily rent from october 10th to the end of october. so overall it was approximately $2500 for his daughter to move in. 

Since the first day she was occupying the unit, its sounded like her children are smashing the floor with a sledge hammer, even at midnight on school nights while my child is sleeping(they live right above me) I have been extremely reasonable and respectful and have only texted her 3 times since october 10th about the noise because it was waking my child up on school nights. come November 3rd I receive a text saying hey we are starting to move out today(the 3rd) and will be out by the end of the week, I said "okay well proper notice would have been appreciated but great! the sooner the better!" "let me know what date you will be out so we can do a walk through and i can get the security deposit back to your father" she and her father both texted me saying they are paid through the end of November and that they expect a refund for the unused rent for November..

My question is, am I obligated to refund them for the unused portion of rent for november? even though they are voluntarily terminating the lease without proper notice? 

Any helps or advice is greatly appreciated!

Thanks 

Jeremy

@Dennis M. yes NH is expensive the average house price in the area I am purchasing is around the 200k for single families and right at 180k for multi families, if i go to more populated areas, multi families can get upwards of 200k-300k+ not to mention electricity in NH is astronomincal.

It's hard to find a cash flowing property around here because most people want all the money for everything they list. 

thank you for all the replies!

So, to clear up a couple of things, my mortgage broker said with the FHA loan i am getting i have 60 days to occupy the unit so I was wrong about the 30 days according to my mortgage broker.

The seller as informed me that she will pay whatever it takes to get the tenant out but she cant do it her self because of the pending litigation, My agent has physically gone to the property and tried to get a hold of him but he is avoiding everyone like the plague, he has his friends call people back and act like him and feeds everyone a bunch of lies.. so it seems impossible to actually get a hold of this guy and offer him cash. 

one of the problems with me remaining in my current residence is my mother needs to renovate the place, with new floors, windows paint etc and refuses to do it while anyone is living here, she is desperate to sell and we all expected me to be out months ago, had I known 4 months ago about the supreme court appeal I would have backed out and found another property, I am just in to deep and too late to back out, this property is mine I will close on this property by any means necessary. 

The seller has agreed to compensate me in many ways, she has offered to pay me cash out of contract for my patience and for not backing out, she has offered to put money in escrow and she has also offered to pay rent for me to stay somewhere until we close and the tenant is out and i can finally move in and at this point I am ready to take that deal. BUT!!!! it could literally be many MONTHS before this guys is actually out, and if so that will bring me past the 60 days that I have to move in with my loan. 

Even though he broke the law by claiming he's a vet to the court and im sure they will arrest him and dismiss his case once they find out, Who knows how long that is going to take, and I cant be living in a hotel with my 8 year old for however many months it's going to take and if we just agree out of contract for certain types of compensation who knows if the seller will actually keep her word and pay up especially if its not exactly legal to make dealings for cash and compensation outside of the real estate contract, that is where my agent and I just are not sure if it is even legal to make deals like this outside of the contract my agent is fairly new but she is very trustworthy and she is working her butt off and doing everything she can to get this taken care of, she's confident she can get me all the rent from our first close date till the time we close, and she also thinks she can get me at a minimum of $5,000 cash out of contract, I'm already getting a refund of $1100 at closing, so if we can close this deal and the seller is willing to pay up, Ill actually walk away from closing with zero money out of pocket and a wad of cash and a 180k income property.

My agent and I want to do everything in a legal way to cover our *** and we want to make sure the seller can't back out of any agreements she makes.

Thank you all so much, im stressing real hard right now and my anger is starting to come out in ways I don't want it to. LE SIGH