All Forum Posts by: Tyler Ansell

I would definitely educate them on how to do some common repairs. Pick them up a garbage disposal clearing tool, plunger etc and leave in the home. $20 worth of some household items like that can save a ton of time. 

Also something to think about for the future, putting a monetary amount on repairs in the lease and notifying tenants that they are responsible up to $X.XX. Some homes in my area have as high as $200 tenant responsibility. 

Maybe I'm reading too far into it...this is what I saw under definition for a primary residence that prompted my question.

"Principal Residence: A Principal Residence refers to a dwelling where the Borrower maintains or will maintain their permanent place of abode, and which the Borrower typically occupies or will occupy for the majority of the calendar year. A person may have only one Principal Residence at any one time."

Hello,

I'm closing on my first duplex purchase this week and had a question about the live-in requirement because everything I read mentioned "calendar year". FHA website seems to indicate that in order to meet the requirement for live-in the owner must occupy for the majority of the calendar year.

Obviously there isn't enough time in 2016 to meet that requirement so does that mean I need to occupy for 6+months in 2017?

Thank you!

Once tenant gives notice you could do an inspection. Spend some serious time in the unit thoroughly evaluating what you'll need to do. Build a good punch list of exact items and/or projects that need accomplished. I.e. "downstairs bathroom: 3 lightbulbs, touch up paint, toilet paper rack", "bedroom 2: new carpet measurement 12'x10' beige" etc. 

That way, Day 1 when tenant moves out you can show up with all of your supplies and a task list for whoever is helping you and turn the unit extremely quickly. I just completed turning over 150+ units in a 14 day time period using this same process on a multifamily asset.

You could always use a cap system on the utilities too. Give them a certain dollar amount that will cover the utilities most months and if they go over they pay the difference. For example if the utilities were $300 average you could just write into your lease that anything over $300 gets split between the roommates. 

I spent a few months filling in as property manager on one of the student developments there called The Gathering with my last employer. Direct message me and I can try to get you as much info as possible from what I remember about the area.

Talk to the local university advisors in those "high level" programs like grad, mba, law, med etc and they'll likely give you great info on when classes start, let you advertise on their bulletin boards and/or webpages. We've had great success filling subleases or vacancies over summer with early-start programs.

That's basically what I'm going to do @Christopher Wand but I'm nervous Tenant B won't leave at lease expiration. 

We always run our terms August-July with a few weeks in August to turnover the unit if needed. Students are familiar with pre-leasing units though so I'd say go ahead and get a great tenant applied/screened/signed lease and wait until August if you can. Then you can run them on a 12 month term. Be open to subleasing but always treat the sublease applicant with the same screening process. All of the housing around USF signs 12 month terms so I wouldn't worry about it. If one doesn't want the whole term you'll find another. If you send me your email I can keep an eye open for any UT students that come through my place looking and I can send them your way. 

Hi BP!

I currently have a house rented with 2 tenants, jointly on the lease. It ends June 24th and Tenant A wants to stay and renew and has a new person he would like to put on the lease in place of Tenant B. Normally this wouldn't be an issue but Tenant B is being very difficult to deal with as far as signing roommate release forms, agreement to vacate etc. I'm nervous he won't leave at lease expiration.

My question is: If I sign a renewal lease with Tenant A and his new person effective the day after the old lease expires and Tenant B isn't moved/won't move out what do I need to do...remove belongings as lease has expired, start an eviction process and tell Tenant A's new resident that he just has to wait...Thoughts?