All Forum Posts by: Theresa Harris

@Nathan Spradlin The nice thing about doing the last month is you don't need to worry about them moving in for a month and then leaving.  Then once they are in, hopefully they will stay more than a year.

If you are planning buying multiple homes, then he shouldn't have a problem doing it.  I can see why he'd be concerned if you are only planning on buying one place, but putting out multiple offers to see who will accept it.  Plus if there are that many good deals, you may not need to do multiple offers at one time.

What about trying an incentive?  Sign a 1 year lease and the 12th month is free.  Make sure it is the last month and not the first.

Be consistent.  If they need a few extra days at the end, they need to pay for it.  Then if the lease doesn't start on the 1st, same thing applies.  And no it doesn't work for moving out early and a refund.

I'm glad you were able to move the next job up by a week.  I don't think people realize all the work that goes on behind the scenes to do some of this work.  

I'm sure you'll hear from the client.  You did offer him another slot and he refused, so it isn't like you didn't give him options or notice that you were coming.

I'd only ask for the credit if things really need repair (new roof, new HVAC, etc) and they have not been factored into the list price.  

It sounds like you are wanting to do repairs, but don't have the money to do that and want to put those costs into your mortgage.  Why not talk to the bank and see if you can get a separate loan?

I'm in Canada, so tax rules are probably different, but I'd pay down the mortgage on the primary residence.  Here interest on rental properties can be claimed on taxes.

Assuming everything else is comparable (rental potential, taxes, etc), then the second one would mean a lower down payment and leave you with ~$50K to invest in another place.  It would also mean dealing with 4 vs 3 sets of tenants.

I wouldn't do it unless you are having problems renting the place.  

Take photos or a video and have a simple check list for them.  Appliances are clean and work, carpets are clean, etc.  Do the same when they move out.