All Forum Posts by: Taoufik K.

@Charlie.

Im just curious. My understanding is: not renewing the lease does not necessarly mean they will just leave after the lease expires? They may demand more time to find suitable housing then he is maybe forced to renew?

Am i missing something?

Thanks

Taoufik

@Randall. Thank you, a lot for your input.

I really like the idea of the "Tenant Estoppel Certificate". It seems very effective.

I guess im just not informed about this as of now. I think My lawyer/title company have already figured this out. I will check with them tomorrow and get back here on how we are handling this for other folks to know.

Thanks, again, Randall!

Best,

-Taoufik

First, speak to your agent. Know your position in the market. Then, I guess you just need to make it a contingency and a major one. Because there is no guarantee the tenants will leave after you close. 

Keep in mind, if you are asking the seller too much on the offer, he may also feel like you are making it hard for him to sell you the property, or may choose another offer with better terms. In other words, try to be fair and competitive if you really like the house.

Good luck!

Taoufik

Or perhaps, speak to a lawyer to see if your can get an exception/allowance? Spending some money may get you a bit further. 

Glad everything went well. Just as a minor rule (and of course please check with your local laws and how it applies in this case).

Everytime, i run into an issue with a tenant (regardless if it is minor or major one), i try to add a clause for it in the lease; so it it then mentionned in the lease they sign next time.

I hope this tip helps some folks here.

Best,

Taoufik

Purchasing triple decker in Boston MA, I'm wondering how can i handle the deposits/lasts funds that are maybe held by the current owner for Section8 owner?  In other words, if the current owner claims he never collected last+deposits, and at the closing day he does not transfer them, then, i may have to end up paying a tenant when he is leaving an apartment for something i never collected/held.

Is there a way how to check on this before closing, please?

FYI: All tenants are S8/BHA (Boston Housing Authority)

Thanks

Check out the Greater Boston, MA. It looks promissing.

@Bilal 

The lawyer working with should be well aware of this to incorporate into the P&S. Your agent also should have discussed how best to handle this because the seller may choose to only transfer the deposit and the last Month if he is holding them. If the closing is hapenning at the end of the month then you are only entitled the deposit+last if any. If not, you discuss as i said above. If the are TAW (Tenant at Will) then, there usually none of the later.

Speak to your agent, then make sure you discuss with your lawyer.

Good luck!

Maureen, have you ever persue this project to add a unit in the basement? 

Thanks!

Try geico. I have gotten $ 2,900/m.