All Forum Posts by: Radhika M.

@Daniel Miller

@Julian Dangerfield

 I am in San Jose and know how tight the rental market is here. One think you can do is set up a search on Zillow/postlets where your rental property is and when similar properties come on market it will send you an email. This way you can constantly monitor rental market in the area. 

@Lenzy Ruffin

Like @Roy.N mentioned above you need to look at local tenancy laws. They vary state by state and some cases city by city.  In California for long term tenants you need to give a longer notice than 30 days. You also need to account if the area is in rent control before you can increase the rent to market rent. 

One other that would come into picture here is if the buyer you are trying to assign the contract to wants to flip the property or wants to keep it as rental. The approach you take would be dependent on that.

@Peter Lee

 I think the term "Kicking out" makes it sound harsh. But having said that if the lease ends and you do not want to deal with month to month you can ask them to vacate.

Since they are good paying tenants and have not given any issues I would let them stay at month to month but at a higher rent and request a 60 day notice.

@Nhi Nguyen

 Great job on the house. It looks great. Hope you sell it soon.

Welcome to BP Brian. I think you are in a great position to move into retirement. Holding free and clear properties that have low property taxes here is great.

If you are not comfortable with stocks I would not move to stocks. even if you decide to move to stocks do it slowly. 

@Account Closed suggested NNN properties above and that is a great way to go if you do not want to do residential anymore.

@Julie Macd Check your state and city laws if there is any limit on increase. If you are in a rent control area there will be max you can increase. If you are not in a rent control area I would increase 10% .  The tenant must know they are paying way below market and could be one of the reason they decided to stay two years ago.

For long term tenants I am okay with them being 10% below market but 500 dollars and 25% below is a lot. Even if you got a property management and pay 10% to them you would still come out ahead if you got market rent.

I have to agree with @Account Closed on this.

I know people say don't get involved in parking issues but It is easier said then done and  you will get better tenants with parking.  I think it is always better to have a dedicated minimum of one parking spot for tenant. If you allocate a spot for each person and say they can only park their it will be reduce some of the issues.

This is one thing I have learned within the first few months of being a landlord. 

@Zulf H.

 I think this is entirely depends on what your long term goals are and what your definition of a not so good neighborhood.  Would the 32 unit be be C or D neighborhood? If it is D I would pass. Other things to consider is the condition of the property and make sure you account for more expenses in the 32 unit compared to 6 unit.

If it was me I would choose the 6 unit.  We like to invest in A/B areas though return is lower in this area.  We do not want the headaches of not good neighborhoods. Good luck.

@Arthur E.

 You could send your real estate agent some gift depending on what they like.  

Agents get most of their clients through word of mouth of well satisfied clients. So refer the agent to any friends and family looking to buy or sell.

@J Scott

 and @Todd Whiddon

 The house looks great. Great job. I am amazed at the cost you get the job done.   But I guess everything is more expensive in San Jose.