All Forum Posts by: Takeo Kingi

I have a non paying tenant in one of my units in Indianapolis (Marion County) and I’m looking for recommendations for attorneys that deal with that or input on getting them evicted. Thanks in advance.

0 Votes

Indianapolis, Indiana

Looks great, congrats! Do you have more photos and what’s the cash flow look like on it?

2 Votes

@Mike D'Arrigo Where are you gathering those numbers from on a quarterly basis? Thats a very helpful chart and Id like to create my own. Thanks!

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I haven't experienced this yet, however if you still remain in good communication with the tenant I would let them know the utilities will be turned off Starting November 1st and provide all the contact information for all the utility companies so they can easily call them to put them in their name. Let them know it's an easy process and if they want to avoid any interruption in utility services its best to contact them right away.

3 Votes

@Joe Colmen Hey brother, I’m a realtor in Ventura County which I see you’re from. It is a hot market here no doubt, my only encouragement to you is to keep putting in offers on any home you’d consider. You will get one but it may take some time. Also include a letter about yourself, sometimes you’re able to connect with someone by having one thing in common and that’s enough to make them accept your offer. Best of luck!

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I have a referral for a listing to hand off. I’m looking to find a knowledgeable, competent realtor to refer it to. Let me know if you’re interested in talking and getting more details. Thanks

Ps. I’d like to maintain a relationship for future referrals as well. I’m located in Southern CA.

1 Vote

Originally posted by @Nathan Gesner:

I have a form letter that keeps it professional, provides them with some options, and requires them to choose one. Here's a very simple example:

Dear Tenant,

Your lease is expiring on ________. After a review of our records, we've decided to offer you the following options. Please initial your choice and return to us no later than ________.

1. Terminate my lease on the current schedule. I understand I must vacate the home no later than the lease expiration date listed above.

2. Renew for an additional one-year period at a rate of $_______. Your new termination date will be ________. All other terms and conditions of the original agreement remain in affect unless agreed to in writing by all parties.

3. Extend on a month-to-month basis with a 25% increase. Your monthly rate will be $_______. Under this option, Tenant may give notice of intent to terminate by serving Landlord with a 30-Day Notice in writing.

We look forward to hearing from you soon!

Landlord

Thanks for that, I like it, I’ll definitely tweak it to my tenant and use it. Appreciate it!

1 Vote

Originally posted by @Kenneth Garrett:

@Takeo Kingi

It’s definitely an awkward time. Small increase not a big deal provided your not at the top of your rental market. I just renewed a lease and they were at the high end of the market. I just chose to renew at the same rate. If it’s a big increase there going to want to know why. Your not obligated to give an answer, but without any property improvements there’s a good chance they won’t renew.

As far as how I go about a new lease. I send them an email or text indicating there lease is expiring soon and I am offering them a new lease. I let them know of the new rate. If they agree I send them a new lease.

Great information, that makes sense. Thank you!

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Hey guys,

I’m about 3 months away from having to renew my renters lease. I know this is an odd time, so two questions.

First what’s your thought on increasing your rent during this time (my tenant is in the medical field and still working).

Second, how did you present the rent increase when the least came up for your tenants.

I don’t plan on increasing rent much because of the virus but I did want to implant a small increase.

Thanks for the input!

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All Forum Posts by: Takeo Kingi

Takeo Kingi has started 8 posts and replied 38 times.

Post: Need Recommendations for an Eviction Attorney

Post: Need Recommendations for an Eviction Attorney

Post: My First Real Estate Investment - SFH Rental in Indianapolis, IN

Post: New help getting started as a first time out-of-state investor

Post: Tenant didn't transfer utilities in to their name.

Post: Is the Real Estate market really not going to take a hit?

Post: Looking for realtor in San Antonio TX near 78253

Post: How did you present a rent increase

Post: How did you present a rent increase

Post: How did you present a rent increase