All Forum Posts by: Sam S.

very good info indeed.

I never had this kind of experience with the students at my rental property. These three International students changed the boundary of the whole rental agreements.

Once for all, I want to teach them a lesson so they don't do this with anybody else.

Can any of you tell me the whole process for taking them to small court?

I have already sent them an official formal email letter notifying them that  one of them terminated the lease prematurely. so they all are at breach. they haven't left the house in the same condition when they moved out. And they haven't adhered to the contractual agreements during the lease term. So I am entitled to withhold their deposit.

Should I give another formal notice? can anyone give me a sample?

what is the next step? Even though the physical damages are manageable, I can not forget the way they mistreated the house. I had 4 parties of prospective tenants who came to see the house back in May for next year lease. They all ran away after seeing the messy house  with trash. Now that they all are breach, I don't want to return any of the deposits.

Please advise.

Thanks for your input. All three signed the same page on the lease which has all three names, their addresses and phone numbers and rent/security deposit etc.

The tenants left so much trash and soiled kitchen, I couldn't show the house to prospective students for the next lease term. I had to work  extra hard to get new tenants for the next year. Although these tenants got the house cleaned, it was a harassment for me to go thru this entire ordeal. Right after this incident,  one of the tenants left the country without notifying me and terminated her lease thru email before the term and because of her termination, the other two are on the hook now. I am planning to keep the whole sec deposit for the tenant who initiated the termination and return partial money to the other two tenants. I think not only they should pay for the damage, but also for the harassment and mental suffering that they put me thru during this ordeal.

We had 3 students signing a single lease together for my rental property. The lease was clearly written with a clause for "12 months" term. Without any notice, One of the tenants left the country before the lease was over and wrote to me that she wanted to sublet her room to a friend. when I explained that the lease doesn't allow her to sublet, she emailed me back that she wants to terminate her lease.

Doesn't that put all the tenants at a breach with the lease since they signed a single lease together?

These tenants did a lot of damages to my apartment also.

Hi,

Before I get on a mortgage shopping ride, wanted to tap this forum for some info.

what is the best rate have you seen/gotten for refinancing an investment property (mine is a Condo) in NJ? The condo has built up a good amount of equity.

Thanks.

sorry I meant cash flow (not cash balance)

At this point, I know that the cash balance would be $150/month. But I am negotiating the price with the seller so the cash flow may go up depending on the settling price.

Looking at a 2 BR condo for investment purpose. Once the contract goes thru, I will know how much cash flow I will have from the property.

What are the best Mortgage rates for 30 yrs/5-1 ARMs out there? Given the low interest rate, should I consider 5-1 ARM?

Trying to keep the closing cost  and ongoing mortgae amount down as much as possible.

Please advice.

Hey BP friends,

Came across this forum while looking for info on how to buy investment property.

Hope to learn a lot from you guys!!