All Forum Posts by: Nadir M.

Hello again everyone,

I recently leased my property, in my opinion, to some great tenants. They're retired military individuals and so far things are going well. Currently, the tenants consist of a married couple and their Son. Today, the wife asked if she can add her other older Son, whose current lease is about to expire the end of this month, to the lease. Her older Son is a military individual as well and is suppose to be station outside of US in Feb or March. Due to COVID she doesn't know if he'll actually be deployed. She was asking if she can add him to the lease so he doesn't have to renew his lease where he's currently staying. Her older Son has a daughter as well. He's in his early 30's. My lease states that if anyone else is added to the lease after it's been signed, then that individual needs to go through the background check and either be added to lease or sign a new lease. I'm willing to add him to lease after he goes through the background check. My question is, would anyone follow those exact steps or should it be done differently? ALso, would anyone charge extra for rent? I want to do right by tenants. I want to just add him to lease and not charge extra. The current tenants are on a six month lease which expires in June. Any help is appreciated 

Thank you, 

@Miriam De Haro

I’m sorry this happened but I would pay the $1250 and move in and on. I would be more concerned honestly about the fact that AC was stolen. Was this purchase in a decent neighbourhood? How do you know this won’t happen again? The seller willing to pay half the cost and installation sounds fair to me. You’ve gotten this far in the process to turn back and walk away. Although $1250 sounds like a lot now, it’ll be a story to tell in the future when the investment pays for its self over and over again. It’s $1250 lesson well learned. You’ll be hacking as well, so your tenants will pay for it essentially sooner than later. You’ll stress yourself out way more getting legal involved. You and I both know to def do a walk through regardless of any situation. Your agent should have known better as well. Time to look for a new one as well.

New AC for $1250! Killer deal :)

@Caleb Johnson

Congrats on the 4-PLex...that’s my next feat God willing. Thanks for the post, helps a ton. 100+ responses, rented out within a week, a very promising way of securing tenants.

@Curtis Mears

Thank you Curtis. I have a qualified tenant I may go with, If it doesn’t work out then May think about lowering price.

@Aigo Pyles

A lot of BP’ers commented on FB marketplace as a great place to advertise. Def will check it out

@Brian Anderson

I appreciate you taking the time to sum everything up. You offered terrific information. I wouldn’t say I’m rushing to find a tenant. I’ve had three applicant and done background and credit check on all. I have a good gut feeling about the tenant I’ll end up going with. Seemed very professional, good credit score, and no criminal offenses, evictions, or current collections, and him and his spouse make 6 times the rent amount. I will say that I did not verify previous housing history. They just moved here from out of state. They’re looking for a short term 6 month lease option which will work well for me as their lease will be up in the summer if they decide not to extend.

I also did have a section 8 applicant but quickly denied them as their voucher doesn’t meet rent amount. Great idea to verify with voucher program to make sure voucher is legit...thanks for that pointer and many others.

@Nathan G. Thank you. I’m getting accustomed to DocuSign

@Charles Large

He’s wants 6 months and honestly that’s what I wanted as well. When lease expires he can renew or break lease. Summer would be good time to find long term tenants

@Tracy Streich

So true, not trying to put down a deposit. So the dilemma is either waiting until January or February or have a good tenant whose credit score and background check are clear and wants to lease for 6 months only. This will get me into the summer months which will increase my overall applicant interest.

@Mary Koleno

House is located in Nebraska. For Rent sign is currently up. I think visibility is great and house is listed on almost every online website that I can think of with exception of Craigslist. $1595 does sound way better and will stick with that for now and see where it gets me. Thank you for your expertise