All Forum Posts by: Web A.

@Nathan G.

Do you happen to have a sample non renewal letter to provide?

Hey BP.

Landlord out of NJ. If a tenant’s lease ends in the middle of the month (say the Feb 15th 2021) & you’ve already decided you won’t renew their lease, do we prorate the rental amount & have have them pay half the rental amount of the last month or extend give them an option to stay until the end of the month in the non renewal letter in order to collect the full last months rent?

There’s a few things to consider which is time to show the property, time for small cosmetic repairs, and etc to get new tenants in as quick as possible.

What are your thoughts BP?

@Jason Wray

Not yet. I assumed small community banks would prefer income plus assets in order to qualify for the amount im looking for

Hey BP,

I'm from the north New Jersey Area. I'm trying to leverage my life insurance policy along with my other assets/ and own capital to gain access for a line of credit (150k-200k) in order to invest and hopefully use the BRRR method within the next 6 months. Any insight on small community banks that work with realestate investors in lending capital for acquisition in this area? Thanks BP

@Theresa Harris

The tenant has been living here since august 2019. I bought this house April 2020 and inspection was March 2020 With no damage to the mirror or vanity doors. They are not a problem tenant but she does have young kids who i think damage the items. The bathroom exhaust fan is due for replacement so I’ll replace it but the other items idk.

@Patricia Steiner

This was helpful I guess it’s worth replacing and setting those expectations after it’s replaced.

Hey BP. I have a tenant that is complaining of a broken vanity door and mirror. I had an inspection of the property prior to be buying it 6 months ago and it was fine then. The tenant expects to have me fix the vanity and blames the damage on the humidity in the bathroom since the bathroom ceiling fan doesn’t properly channel the humidity out of the bathroom. I believe this tenants kids broke the items and is now expecting this to be repaired. Is this something that as a landlord you would repair or is this the duty of the tenant?

@Andrey Belinsky

I’ll certainly look into this. Thank you

Hey BP,

I own a rental property here in North New Jersey. I inherited a tenant who’s lease ends August 15th 2020. It’s to my understanding that if landlords decides to renew the lease it must be given 60 days before the end of the lease. Does anyone have resources to a strong rental lease that I can review and possibly use or some general direction?

@Steven Wilson

Awesome advice. How soon should the letter be given.