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All Forum Posts by: Jennifer T.

Jennifer T. has started 10 posts and replied 1083 times.

Post: Inheriting tenants - No Lease/No Estoppel - Walk away?

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I recently purchased two duplexes with no leases for any of the tenants.  Which turned out to be a lie from the seller.  I think HE just didn't have the leases, because he obviously ran things in a slip-shod manner.  But one of the tenants had theirs.  I, as the buyer, had each tenant fill out the estoppel agreement and sign it.  I did that during my inspection.  I explained to the tenant that it was for their protection, to verify their rent amount and the amount of their security deposit, that would be turned over to me if I closed on the property.  Then I had my agent send those to the seller's agent for the seller to sign.

I assume for an estoppel agreement to be valid, both the tenant and the seller need to sign it.  Someone(s) needs to sign the PA.  I assume that same someone(s) would be the one(s) to sign the estoppels.

If for some reason you can't get any documentation, it still might be a good deal.  But I'd base my price on a worse-case scenario.  Which could include the tenant coming up with (or manufacturing) a lease that shows it is NOT a month-to-month.  Or the rent is lower than what the seller claims.  Or the seller claims the security deposits were already used for XYZ and are "used up" now.  Be super wary.

Post: Help! Copper stolen from HVAC unit

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I just had this happen yesterday to two duplexes I'm renovating.  Brand new equipment that's only been there a few days.  The HVAC company wasn't even done installing everything.  I am absolutely sick about it.  The one saving grace is they didn't destroy/steal all of it.  Just broke into the one unit that can be "least seen" from the main street and then two of the outside condensers that were the least seen.

And this is even a decent neighborhood, crime-wise.

The duplex that had both condensers stolen didn't have any work or the inside handlers done yet.  I'm cancelling that part of the contract and will just put in window units instead (common in my city).  Sad, but I don't have other choices if anything HVAC will just be stolen or ripped apart for 5 f**king dollars in scrap copper anyway.

Post: Being a tenent in a home

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I largely agree with the others.  It doesn't hurt to ask, but it's not usually done.  The one caveat I will give with that is to ask head of time, before scheduling a showing (unless they have an open house).  If you have rental comps to back up the reduction you are asking and/or what makes you an especially desirable tenant, then include that info with your request.

The main reason I suggest to discuss it ahead of time is I still remember a woman who scheduled a showing with us.  This was a 4 bd/2ba that we were renting out for $1150/month, at the time.  Which was already slightly below market rent.  We met her at the house and now, all of a sudden, it's "she really can't quite afford the rent, can we take $100/month off" and "oh, I won't have the full security deposit at move-in, will you take half and I'll pay the rest later?"  Either one of those requests would have been a hard no, if she simply would have asked us ahead of time.  It was a huge waste of everyone's time and I was irritated by it.  Irritated enough that, if it had been something I might have considered, I probably would have said no.   

Post: gracefully end lease with good tenant

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

FWIW, I was "that tenant" once.  We'd lived there for two years, we were great tenants, we loved the place, and had a great relationship with the landlady.  But it was a raised home and it needed to be "shored up" again.  Major construction process that was going to take 6-8 weeks.  She gave us the bad news that we would need to move out.  She actually never even served us with a notice to vacate.  Just asked us to start looking for a new place and keep her updated with our progress.

We were disappointed, but are reasonable people.  We understood why we needed to leave and that it wasn't personal.  We weren't angry with her at all.  We found a new place within a couple weeks and were moved out just a few days shy of the end of the month.

Not that you need to explain the situation or give reasons to this tenant, but I think that would help. At least then they can hopefully understand the "why", even if it's disappointing. Though I wouldn't mention the STR plans after your all's home renovation is done. Because that part really doesn't matter anyway. It's that you all need somewhere to live while major renovations are going on in your own home.

Post: Tenant Applicants say the dumbest things

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I had a prospective tenant turn in an application recently with the security deposit to put her "first in line" to rent it.  As an aside, we do keep doing showings and collecting applications while we vet potential tenants.  Long story short, there was already some oddities in our second meeting with her when we collected the security deposit so our antennas were already up a bit.  She lists her current landlord's name, but doesn't have his number.  So my husband contacts her back to get the phone number.  It's disconnected.  He contacts her again to get the correct number.  Except now she gives us the name and number of her previous landlord.  But adds that he has "passed away".  Needless to say, we declined her application and returned her deposit.

For the same unit, I had another person request an application, which I gave to her.  I also went into my short spiel of the application process.  Or at least I tried to.  She kept interrupting me and wouldn't let me get a word in edge-wise.  Centering around her telling ME that I don't need to do a background check on her because she's on S8 and they already check her criminal and eviction history.  I tried a couple times to explain why that is not how I do things, only to continue to have her interrupt me.  Finally realized I was completely wasting my time and said something like, "Sure.  If Section 8 can provide me with complete and currently pulled information about your criminal and eviction history, I'll consider waiving my normal background check."  She never turned in that application anyway, which was probably a wise move on her part.

Post: Is it time for this tenant to go??

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I was in exactly your situation.  Rent always late by 5-10 days (a few times even longer), but always paid.  Every month I had to nag and ask about it, with my first text being ignored half the time.  Was often rude and had a temper.  I finally got fed up and issued a 30-Day Notice to Vacate, actually I served it mid-month to be out by the end of the next month, so she got 6 weeks.  Should have done it months earlier!  Of course, she didn't comply with it.  And I still had to evict her.

However, caveat, this rental is in a landlord-friendly area.   

Post: Landlord paying utilities

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I bet she is being so adamant about it because she has already burned bridges with the local utility companies.  And can't open them in her name until she pays off whatever, possibly large, balances she owes them.  Major red flag because it shows irresponsible behavior and that she doesn't care about paying money for services she's used.

I absolutely do not include utilities with rent for a whole host of reasons.  One being, you can't shut them off without getting into a lot of hot water if the tenant stops paying rent.  Plus, when people aren't paying those bills themselves, they don't care if they leave the a/c or heat on all day even if they aren't home.

If you include utilities, you'd probably get approved for higher rent with S8.  I'd be surprised if it made up the difference, but don't have experience with that.  I have also heard of some landlords including utilities "up to" a certain amount.  And/or collecting an additional security deposit.  But I personally don't want to mess with any of that.

Post: What to ask from a guarantor?

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

A one year lease is a one year lease.  Not even necessarily penalties, he could legally flat out refuse to move until his lease is up.  You'd probably need to offer him "cash for keys".  How much?  I don't know.  Depends on what you're willing to give and what he's willing to take for the inconvenience.  And, again, he wouldn't necessarily need to accept any offer you made.

You can do a shorter lease instead but, especially considering he is in school, he might want one that at least covers the whole school year.  As to how much notice you would need to give him if you are not going to renew his lease is usually at least 30 days before the lease ends.  But double check the landlord-tenant laws where this property is located.

Post: Alternatives to increased security deposit

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

I've never rented in NY.  But, back when I was a tenant, there were a couple places I rented that collected a non-refundable cleaning fee for when I moved out.

Though...hmmm...come to think of it.  I don't think it was an extra fee.  I think it was just verbiage in the lease that $75 (or whatever) was non-refundable for cleaning and would be taken out of my security deposit, on move-out.

Maybe an extra non-refundable cleaning fee on top of the security deposit?  But sounds like that might not work either under the new regulations.

I hear ya, though.  It's pretty landlord-friendly where I live (NOLA) and evictions are swift, when needed.  My rentals tend to be C-Class (safe neighborhoods, but lower middle class), plus I'm in a soft rental market.  It's great to have the leeway to occasionally accept someone who seems good overall, but is lacking in one area.  And I can offer them the place with a first, last, and security.

But, if those policies changed.  Then, yep.  Politicians just made it that much harder for many people to move or find homes.  Seems like the opposite of what anyone would want.  But people often can't think past their initial first impression and won't go more than skin deep to the true ramifications of bad policies.

Post: Did not sign lease 7 months ago now landlord hot and heavy

Jennifer T.
Posted
  • Investor
  • New Orleans, LA
  • Posts 1,096
  • Votes 944

(Caveat, check the landlord/tenant laws for your area)  Do you even want to keep living there?  I gotta say, I wouldn't want to.  If not and a lease wasn't signed, that probably makes it a month-to-month and I'd be inclined to tell her something like, "It seems this arrangement isn't working out for either of us.  Since we never signed a lease, I am giving you my 30-Days-Notice that I will be moving out on X date."

However, if you want to keep living there, I'd ask her to send you another copy of the lease.  She should be signing it also, because there are protections for both parties in a lease.  Then also sign the House Rules, if she has that as a separate document.  She might be calling them "house rules".  But, really, they are an addendum to the lease.  They should have their own date as to when they were presented to you.  If they don't, put the date you signed next to your signature and keep any proof of when they were given to you.  For example, if there is an e-mail or text that takes about "here are the new house rules I also need you to sign".  And their effective date would be the date they were presented and/or signed.  Not your original move-in date.

While I'm side-eye to her about not fixing things that I assume she should be fixing, to be fair, you are not faultless in this either.  Your rent was late.  If you normally pay it in cash and on Friday, then it should have already been paid when she contacted you at 5PM.  I assume it was actually due on the 1st, which was Thurs.  Lots of landlords, myself sometimes included, will post a Pay or Quit the day after rent is late.  It seems like sometimes tenants get hurt/offended with that notice.  But, really, there's nothing personal about it.  And it's a completely moot point, as long as the rent is paid in that timeframe.

Also, unless it was something already discussed with her, you should have known your b/f's dog is not allowed to be at the house.  I don't know if her lease is silent on the subject of animals.  But, at least to me, animals are one of those categories where...if it's not explicitly stated what/which animals are allowed...then the assumption is they are not allowed at all.