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All Forum Posts by: Bob Costello

Bob Costello has started 3 posts and replied 4 times.

I have a couple students looking to see my property and they are saying they have M1 and D 1 student visas. Is there anything additional I need to do? Are they going to have credit for credit check? Do I ask for deposit, 1st month, and last month? Not sure how to proceed. Thanks for any help
I have been told I would need a year lease to get approved for another mortgage. I have great credit in the 780 range. Is this not true?
Where can I find a cheap or free lease agreement extension? I have had tenants since May 2015 and lease is up at end of April. I believe I will need to extend them another year instead of doing M2M since I will be buying myself a primary house soon. Thanks for the help Bob

Post: Option to renew lease

Bob CostelloPosted
  • Chicago, IL
  • Posts 4
  • Votes 0
First time landlord. I used real estate company to find first tenant. The lease started in May 2016 and ends April 30,2017. When do you give the tenants an option to renew the lease for another year? And when do you start looking for another tenant? In desirable area that I should be able to find a new tenant myself. Where do I find or can I find a contract to just extend original contract for another year? I am looking to raise rent 5% in new lease. Thanks Bob