All Forum Posts by: Andrea Coulter

Hello All,

Im looking for opinions. I am purchasing a duplex, both leases have another 6 months left on them. The seller has verbally told me that both tenants are current on rent. I am doubtful due to the eviction ban still current until august 31st in New York. Can I ask for proof of deposits since the start of their leases 6 months ago? I am just afraid of buying bad leases that could cost me another 12k plus eviction cost if the current tenants are not paying. Thoughts?

@Adam Martin

 A bad tenant that I currently have should be my financial loss...not passed on to future landlords to take "part of your loss". They should be aware of this tenants history. Business needs Ethics to be sustainable. 

I am a small landlord in Upstate New York. I have a tenant that has not paid me since December of 2019. In 3 Days it will be 13 months that she has not paid and yet my state will not let me evict her for possibly another 5 months? Maybe longer? I started the eviction January of 2020 PRE-COVID. In March, I was 2 weeks from a final court appearance for eviction when COVID happened then, EVERYTHING was halted. As of today, I still will not even consider offering cash for keys! Why? Because it is helping to promote a mentality among tenants that will not correct itself. It must be fought! I will be taking my losses, learning my lesson and moving on with dignity. A little wiser, a little more diligent and a whole lot more cautious on who I rent to in the future. A tenant that does not pay rent and is then given cash for keys will most certainly do the same thing to the next landlord...and the next...and the next. It is a mentality that is unacceptable and more contagious than COVID itself! The mentality hurts the current landlord, future landlords and most importantly it hurts the good tenants that DO pay on time, by creating more risk in the marketplace, inevitably raising rents. Please landlords, think about the 2nd & 3rd order consequences of Cash for Keys. 

@Tyler Brown Thank you for clarifying that there is most def a difference between what the law says and reality...and the reality is must more harsh. I understand that you were fortunate and saved money by offering cash for your tenant to move...But I can almost guarantee that tenant will do the same thing to the next landlord...and the next...and the next...Why would they ever pay rent once a mentality has been created to not pay rent... and then get paid to leave? Anyone interested in real estate long term I urge to think about 2nd & 3rd order consequences. 

@ Ravi Shankar. Good to hear that others will take the short term loss to help fight the entitled mindset that is being created.

I believe the number 1 problem landlords will face in the future will be the mentality of tenants. 

@Wesley W.

That would be great if you could send me his contact info, I would like to reach out to him asap!

Thankyou :)

@Wesley W. Very Interesting to hear that you only rent MTM so that you can evict for holdover instead of non-payment. During this COVID time have you had the need to evict anyone? I have a horrible tenant now that was in the process of being evicted prior to COVID...Started the eviction Jan. 2019! I do have an attorney working on it, with no luck yet because of the eviction ban. Who do you use for an attorney? 

FYI, I am local small investor in Troy & Waterford.

@Derrick Dill That link would not open for me...

@Cynthia Brooks Agreed. repayment is the problem. The lawmakers keep saying that they do still owe the rent, but they all know its impossible to collect! If mass eviction is a real thing, then the government should be paying the tenants rent in some way to avoid the eviction, through stimulus or through tax incentives at the very least! Not rely on the tenant to repay an insurmountable amount of rent debt. 

@Alex Pelin

Yes they respond right to my face that they cannot be evicted! its crazy that this is being advertised to the tenants that they don't have to pay rent. Please future landlords do background checks and call previous landlords!