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All Forum Posts by: Adam F.

Adam F. has started 22 posts and replied 59 times.

Post: How to amend lease for an additional tenant?

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11
Originally posted by @Alex Olson:

Create a simple amendment word document stating her length of term. Make sure both her and the roommates all sign off on it. Doesn't have to be fancy at all. Hope that helps!

That does help thanks. I figured it was something simple just wasn't sure what common practice was. 

Post: How to amend lease for an additional tenant?

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

I currently have a single tenant in a 2bd apartment with about 6 months left on her lease. Her friend will be moving in and has already been approved. She doesn't know exactly how long she will be staying because it's temporary, but she said 3-6 months as an estimate. 


What's the best way to amend the lease in this situation?

Thanks

Post: Applicant has Federal Tax Leins

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

I used RentPrep and they have an option to add a Judgement/Lien search

Post: Applicant has Federal Tax Leins

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

@Bjorn Ahlblad

They’re actually a 70 year old couple selling their house in the same town, downgrading to a smaller rental.

I wondered why, and now maybe it’s to satisfy the lein? Is there anyway I can check to see if the leins are still outstanding or have been paid back?

Post: Applicant has Federal Tax Leins

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

I've had my rental listed for about 2 months now, and haven't had anyone fill out an application until this week. I should mention this is the second turnover I've ever had and I've only been a landlord for about 2 years now.

I just got the screening results back, and everything looked really good except I noticed they both (married couple) had multiple small business federal tax leins between 2010 and 2017, for amounts up to 350k. I'm not sure if this is a deal breaker since they both have really good credit, good income etc. Plus they're my only serious prospects right now and are looking to rent for 2+ years. However federal tax leins sound pretty serious to me, especially with those types of numbers.

Just looking for some advice or insight here on the best way to move forward.

Post: Request for Second Showing

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

Thanks for the responses everyone. Great points. I'm going to show it to him again since it's worth it to get this rented.

Post: Request for Second Showing

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

I just showed my vacant unit to a couple yesterday, who later emailed me and said they were seriously interested and wanted an application.

I sent the application yesterday, and just now he asked if they could see the apartment again. They haven't sent back the apps. 

I'm trying to limit showings due to social distancing, and am currently quarantining over an hour from the property. Of course I'm willing to show again in order to get the place rented, however I'm wondering how I can best respond to this. He didn't state why he wants to see it again, just asked if it would be possible.

I should also mention this is the first seemingly qualified person who is expressing real interest after the first showing, and it's been vacant for a month now. I just don't want to waste my time and take unnecessary risk of exposure.

Post: Section 8 in NJ / Service Dogs

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

Hey everyone,

Looking for some guidance here as I’m dealing with only my second turnover.

One prospect asked if I accept Section 8. It’s my understanding that it’s illegal in NJ to deny someone using Section 8. However, even with the assistance she still doesn’t meet my income requirement of 3x rent. Am I able to deny her based on that?

Another prospect has one service dog, and another puppy which is “to be trained” as a service dog. Generally I’ve been asking a pet fee, and only accepting certain breeds. I know for the one service dog I cannot deny or charge fee, but what about the puppy that is to be trained as one?

Thanks for your help!

Post: Screening tenant who got a new job

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

I’m screening an applicant who just got hired at a new company but didn’t start yet. I’m sure this is fairly common. The last job may not have met my income requirements, but the new one does. Is asking for most recent pay stubs from recent job still necessary? For the new job all I really can ask for is his offer letter.

Thanks

Post: Raise my asking rent on an applicant?

Adam F.Posted
  • Rental Property Investor
  • New Jersey
  • Posts 59
  • Votes 11

I just listed my rental and showed it for the first time today. What I learned from the potential tenant is that my rent seems to be way underpriced based on everything he's seen so far, and he is itching to sign a lease because of it. I have some more people coming to look later today also. Is there any way for me to somehow increase the asking rent, either for any new people or him as well? I don't want to do anything illegal or anything, but I'm new to this and not sure if there's a way for me to do this.

Also, the tenant will be my neighbor so I have an added interest in who they are aside from credit and BG check. Can I choose the tenant I have a better feeling about as a neighbor even if they may be less qualified than someone else? This wouldn't be due to any discrimination of a protected class, but more-so their lifestyle (someone who seems to party a lot vs someone more professional).