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Updated 6 months ago on . Most recent reply

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Jennifer Fernéz
  • Investor
  • Reading, PA
47
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162
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Buying a property with bad tenants

Jennifer Fernéz
  • Investor
  • Reading, PA
Posted

Im looking at properties to buy, and saw a tenant in a 4-unit property I like paid $1,000 in late fees.    They are also smokers and their unit is horrid.  They are month to month.  What are common practices to remove them?   Another tenant in the same property pays $750 a month and should be paying more around $1100.   What is the best way to increase her rent?

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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
7,448
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
Replied

I had a unit and the tenant was gross , filthy and disgusting , but he paid the rent every month . I let him stay , Sounds a bit crazy , but he was there for 4 more years before he died . I collected rent (with increases ) for those 4 years . If I kicked him out earlier I had to do a renovation right then , I collected 4 more years of rent , the renovation was paid for with 1 years rent and the deposit . The unit was 20 years old and most of what was replaced was at the end of its life cycle anyway .

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