All Forum Posts by: Account Closed

The young lady notified us today that she will be breaking the lease and moving out in February as she can no longer afford the place and the boyfriend has moved out and is not contributing.

They both signed the lease, they wouldn't have gotten the place otherwise.

She said she will pay the February rent but then she is moving out, so now the letter will go.

It will inform them they are both that they are still on the hook for the rent until new tenants are found and their security deposit will also be forfeited, a clause in their lease for this very reason.

Chalk up another problem with first time young couples. Too many times it ends like this with legal headaches, credit damage, and everyone angry.

At least it is tax return time, so it should not be vacant for too long. Back onto CraigsList it goes.

Every renovation/rehab we do is all ceramic tile flooring. The expense is a bit higher than with carpet, etc., but you have many years of low maintenance,
quicker turnovers, less headaches with check-out and check-in.

If you are in this for the long-term, then tile is the best. Tenant moves out, wash the floors, new tenant moves in. If it is a flip, then it depends upon costs.

Keep an extra couple of boxes of tile when the floors go in, same die lot, and absolutely no reason floor shouldn't last for 25 years +.

This means no carpet problems, no damaged hard wood floors, normally no pet problems, none of the headaches associated with the other floor types.

If a tenant wants a warm floor, they can throw down a throw rug and take it with them when they leave.

Only flooring that makes sense for the long-term landlord.

The landlord has to market the unit and try to find a new tenant, but that does not mean you can't.

You can place an ad on Criagslist and other sites and unlike the landlord, you can be flexible with the price so that your monthly loss is minimized.

The place has been empty for two months, I would strongly recommend you start taking an active role in subletting it or finding a new tenant for the unit.

We serve the three-day notice on the 3rd of the month, no exceptions, even if a phone call has come in requesting an extension and it has been granted.

Remember the three-day notice is only the first step in the process, the process length varies depending upon where you are. Plus being like clock work will send a message that you are a professional.

We explain that it is strictly for legal reasons, too many times the phone call is followed by another and another and three-weeks have gone by.

Unfortunately, I am not sure what the legal eagles will make of this.

If the young man has moved out and I do not react, is there any implicit acceptance of this which could negate any legal claims of the lease?

Thanks for the tip on the profile mistake, it is fixed.

What a load of tripe..

The rating agencies were consulted by the banks issuing the paper, they worked with the issuers to craft the paper and and then gave them the "AAA" ratings, and were paid for their "services".

The foreigners were foolish not to do due diligence, but they did not cause the meltdown, they were just lazy.

"Uncontrolled" SEC, absurd leverage level raising decisions, rating agencies ratings for sale, bankers looking for bonuses rather than being responsible, and consumption irresponsibility at all levels of our society caused this and nearly put the world into a depression.

I watch the upcoming lawsuits versus the rating agencies with interest, but why do I feel they will walk with a symbolic slap?

Rented a small two bedroom to a young unmarried couple, never one of the most reliable renter groups, but it was November, and within two months the boyfriend has moved out.

Of course no comment to us, rent was not late in January, but that looks like stormy weather ahead.

Thinking about sending the boyfriend a letter reminding him he signed a year lease and is legally responsible for the lease's responsibilities.

Telling people to avoid their responsibilities by looking for a loophole in the lease document?

"All moneys paid to the landlord by the tenant as a deposit as security for performance of the tenant's obligations in a lease or rental agreement shall promptly be deposited by the landlord in a trust account, maintained by the landlord for the purpose of holding such security deposits for tenants of the landlord----

I personally know of only one landlord that holds his deposits in an escrow account.. Not saying its an ethical angle, but it is the law, If you never received a deposit slip regarding the safekeeping of your deposit, you can demand that deposit due.....

Secondly,

"No deposit may be collected by a landlord unless the rental agreement is in writing and a written checklist or statement specifically describing the condition and cleanliness of or existing damages to the premises and furnishings, including, but not limited to, walls, floors, countertops, carpets, drapes, furniture, and appliances, is provided by the landlord to the tenant at the commencement of the tenancy."

This is the worst king of legal garbage.

Do not take responsibility, look to get out of your responsibility. Great advice!
You are a credit to the human race.

You know, just reading these last posts makes my blood boil. Playground lawyers quoting partial rules and trying to screw the landlord. Nice.

I hope the landlord is sharp and decides to screw your eyes out for this. Get the best of everything and sue you and wrap you up in court for years, including fees!

You lived there for seven years! He did his part of the deal, now you want to stick it to him, shove it!

As far as you "law" quoters, I hope this happens to you when you have rentals and 10,000+ in damages. Go to hell!

Rich23

About the biggest downside I see with 4-5 bedrooms is the damage you are likely to sustain. I still find my best tenants are in the two-three bedroom units especially with small numbers of residents. The lower the number the better, and very strong clauses about unauthorized tenants.

Remember, most renters do not have the money to cover the damages regardless of the deposits, so thinking that the higher number of lease signatures will help is a fallacy. What you will wind up with is higher maintenance costs and constant battles over unauthorized tenants.

Best game plan at this time remains two-three bedroom SFRs, and low rent, keep your units maintenance free as possible, tile floors, etc. and screen your tenants for evictions and records of any type.

Be the best value for the lowest price and you will survive for an upturn.