All Forum Posts by: Arjay Estrella

@Ned J. Thanks so much your advise! Very helpful!

@Bob Willis Hey Bob thanks for your reply! Sorry, yes initially I would have to give them a 60 day notice to terminate the lease. Ideally they would take me seriously and agree to the rent increase but I am afraid they won't and I'd have to go through with an eviction. 

Hi everyone, 

I have a rental property in the Bronx, NY and my tenants have been living in there on a month to month basis since December 2021 (original lease started December 2020). I want to increase the rent but they already said there is no way they are paying more than what they are already paying. They also refuse to sign a new long term lease. They claim they are constantly looking for a new place to live in but it's been too difficult because of the current rental market. 

On the positive side, they pay the current rate for rent every month and they take extremely good care of the property. 

PITI is about $2200 and they are paying $2700. I estimate that I could probably get around $2900 for rent at market value.

I know evictions and vacancies can be very expensive for landlords hence why I am so hesitant but I'm looking to get other people's opinions on this. Should I go through with an eviction anyway? 

I appreciate all the advise!

@Alison Evans great idea! Thanks!

Thanks everyone for all the input!

Hello fellow investors! I am purchasing my first rental property out of state through a realtor (purchased for 57k) and I am wondering if I should send her a monetary bonus? If so how much? Also should I wait until after it's been refinanced? It is my first BRRRR attempt. Thanks!

@Beth Wheeler I really appreciate your reply. I guess it all depends on where the property is. 

@Account Closed Thank you very much for that information. I'm wondering is that specific to the state of Nevada? Because I was always under the impression that the owner gets the final say on accepting a tenant. I've never heard of information being withheld like that, though I am extremely new to all this. I guess I just have to trust my parents' property manager. I appreciate the reply!

@Peter Tverdov Thank you for your reply. Now does sharing that information have anything to do with legal consequences or is that just your company's policy? Since you do not share credit report what information do you share with the owners if any?

@Elise Hazzard thank you for your reply. It is my parents' first time being a landlord and I am the one who convinced them to do it so I'm worried. I will look over their contract. Thanks for your advice!