All Forum Posts by: Anthony C.

@Ryan O'Malley, congratulations on your first property! I was in your exact situation back in January 2019. I have now had my first duplex for 8 months and have just been focusing on gaining experience in property management, record keeping, etc. while I save up for my next property. I have already been through the entire turnover process and have many repairs under my belt at this point.

I'd be happy to answer any questions you may have going forward.

Thank you! I made the new tenant go through the whole process the same as the original and I am going to have both of them sign a new lease that will supersede the old one.

Thank you @Jennifer Rysdam and @Matthew Dennehy! I am going to go ahead and have the new tenant go through the complete screening process. Then I will create a new lease were both tenants are listed. I like the idea of having the new tenant signing and agreeing to all the terms of the lease as if they were there from the start.

Thanks again for sharing your experiences and suggestions!

@Kevin Sobilo makes sense. Thanks for your insight! I really appreciate it.

@Kevin Sobilo I figured a new lease would be the way to go. Does something specific have to be done before signing a new lease to void the current lease?

Thank you both for your responses!

@Jon A. That was my original thought. Just have them go through the same application process as if they were renting from the beginning. I definitely don't want to do a sub-lease. I would want control over the new tenant. I'm leaning towards a complete screening process. Credit, background, etc.

@Kevin Sobilo How would adding the roommate as an occupant change the lease agreement compared to adding them as a co-tenant? Would the original agreement be amended or would a new lease agreement be created in either case?

My current tenant has asked to search for a roommate. I have no problem with this, but I am curious how to handle the addition of another tenant. Should I have them do the same application process and ensure all qualifications are met as I did with the current tenant? i.e. Clean Background, Credit 600+, income 3x rent, landlord references. 

Or since my current tenant qualified for the income on her own, should I just check background and landlord references?

Any advice is much appreciated!

@Shawn O'Hara Welcome! I had the same plan as you. Closed on my first duplex a little over 6 months ago and am currently house hacking. Looking to acquire my next property ASAP. Let me know if you have any questions!

Helllo @Beverly Anderson, I agree with @Benjamin Burket. If you are looking to house hack, then your realtor showing you single family homes seems counter-productive, unless you are wanting to rent out each room. Your realtor should be able to set you up with an MLS link with the criteria you are looking for (i.e. multi-family,price, location, etc.). Then it is just a matter of waiting for the right deal. Of course there are ways to look for deals not on the MLS as well.

I am currently house hacking in Rochester and highly recommend it. Rent from the tenants is only about $100/month short of my total PITI and PMI. I was able to purchase my first property on a conventional mortgage for only 5% down.

Good luck!

Thanks @Shane W. Chapin. Hope your reno is going well!