All Forum Posts by: Vy Mai

Can we charge tenants for causing mold problems in the bathroom?  We know for sure it wasn't like this before they moved in but they said it existed.  Can we ask them to change the liner and also keep the bathroom clean to avoid mold?

The liner in the bathtub... so gross

this is on the ceiling..

I just found out another person is living on the property without my knowledge... I confronted the tenants and they said they like to add the new person on the lease. My question is:

1. Do I have them all start signing a new lease or just do an addendum ?

2. How do I put in an increase in rent?

Or... what do you guys do when this happen to you?

Thanks!

@Account Closed I found my current tenants through a real estate agent. It's kind of hard to do our own showing since we have 2 toddlers running around.  Plus, we rather spend our time on the weekend with them instead....

@Russell Brazil  That makes alot of sense!! Thanks alot for the insight!

@Russell Brazil I was thinking that but I'm still not sure if that was the reason.  I mean we had a lot of applications but not qualified ones. Our standard wasn't high either. As long as they don't have late payments or bankruptcy, credit score above 600s... we were fine with that, but it wasn't the case.

The tenants move in today. What a relief... for a year. We've been doing AirBnb in the past 2 months to make mortgage payment and it actually turned out great.  However, it's not the right path for us right now time wise so we are SO HAPPY to find permanent tenants!!!

@Dave Song hope the post above helps. I might look into it myself

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Bruno C. from Boston, Massachusetts

replied 29 days ago

@Yos Getting a refi on the investment property is definitely possible, the requirements vary lender by lender but you can definitely find a lender that will help you refi. There are many lenders that only need 6 months of ownership to recognize the income or consider the property "seasoned".

The advantage of a HELOC if you choose to go down that route is that it is reusable. So you could use the heloc to purchase a property, refi the property into a conventional loan and pay off the heloc, then use the heloc to buy ANOTHER property. just a thought!

Best of luck!

@Dave Song. Not yet Dave! I passed my 6 months goal. Still trying to rent out this first place :) But fighting hard hehe

I did try to google it but found nothing. I also checked the city's website and nothing as well...