All Forum Posts by: Susan M.

Sorry, the mention feature didn't work.  Meant to ask @Dick Rosen.

@Dick Rosen, would you be willing to share your one page renewal letter?  I just posted a similar question here the other day and this is exactly what I'm looking for.  Just not sure how to word the letter. 

I can't believe I have to ask this but I've not yet been in this situation. All of my tenants either moved after the first year or have been with me long term, so I've never had to renew a lease.

My lease reads as follows:

9.NOTICE OF INTENT TO SURRENDER: Any other provision of this lease to the contrary notwithstanding, at least thirty (30) days prior to the normal expiration of the term of this Lease as noted under the heading TERM OF LEASE above, Tenant shall give written notice to Landlord of Tenant’s intention to surrender the residence at the expiration of the Lease term.If said written notice is not timely given, the Tenant shall become a month-to-month tenant as defined by applicable Ohio law, and all provisions of this Lease will remain in full force and effect, unless this Lease is extended or renewed for a specific term by written agreement of Landlord and Tenant.

I want one particular tenant to renew for another year (and he has already indicated that is what he wants to do).  Do I have to send him a whole new lease, with the new term specified, or is there an addendum or "renewal" of some sort that I can send to just state the new term and we can both sign?

I have another lease expiring soon and for these tenants, I'm not sure what they're going to do.  About 45 days before the lease expires I'd like to send them 3 pieces of paper and they can sign and return to me whichever one they want, basically one that says "this is our notice, we're leaving", another that says "we're going month-to-month and we agree to the rent hike" and a third that says "we'll renew for another year at current terms".  Am I off my rocker?  How does everyone else handle renewals if you don't just let the term automatically renew at month-to-month?

I never let people slide on rent.  My lease is clear, rent is due on or BEFORE the 1st of the month.  It's late as of the second and they get a text/email from me immediately asking if they forgot.

I see lots of people here give grace periods.  I do not.  People abuse grace periods.  If you have a five day grace period people will pay you on the 5th.  We used to do it, we saw it happen, we stopped.  Due on the 1st, late on the second..  

I also disagree with letting them slide because they are "new".  This is your best chance to show them exactly the kind of landlord you are going to be, and the kind of tenant you expect them to be.  If you want to be the landlord that lets things slide, then by all means just let them go ahead and pay whenever.  If you want to be the landlord that is fair, but firm, NOW is the time to show them your true colors and start things off on the right foot.  Tenants will, in general, take advantage of any and all weakness/understanding/patience/whateveryouwanttocallit you show.

This is an awesome rehab, great job!  I would have loved to have met the previous owners.  It's like living in a castle, overlooking the stone walls out to the trees.  I kind of like it, but I wouldn't like painting over it!  :)

Did your granite come from HD too? 

This will be my first purchase that includes the tenant.  I have already done due diligence on deciding whether I want the tenant and all that comes with that.  I could really use some help with the purchase agreement if anyone has suggestions. I will be paying cash, no realtor or lawyer, only the title agency.

The situation is that the current tenants are month-to-month.  I have advised the sellers that I think the best course of action would be for them to give notice of termination of  their month-to-month agreement with the tenant by the end of this month effective March 31st (this gives the tenant the required 30 day notice).  

I want to write my purchase agreement contingent on having a new signed lease with the tenants in place before the closing (hopefully March 31st). I have had several conversations with the new tenants are they are already on board with the changes, they would just need to officially sign my lease.  I assume that as long as I don't require any additional security, there's no harm in simply transferring the deposit from them to me?

I've looked for samples of purchase agreements but am having difficulty finding one that would fit this situation. Most purchases including tenants include an existing lease, so the new owner is simply taking over the old lease.  

If anyone has suggestions on how to best approach this, or information about something I may not be thinking of, or a sample of a purchase agreement for this type of sale I would appreciate it!

Thad, you are correct.  I've tried mentioning people many times and can never get it to work.  Figured I was doing it wrong, but according to this post I am not, it simply does not work in Firefox.  

That's a great question about whether that clause implies that you have to take the rent even if it's late.  I could swear my lease used to state something about "at Landlord's discretion, late rent may be accepted..." and then it went on to explain the late fee schedule, but my lease has been through many changes and it doesn't say that anymore.  I need to revisit that.

Regarding the "grace period" I am a big proponent of NO GRACE.  As most landlords will tell you, if you give a grace period, every single tenant will use it. If you want rent on the first (I do too) then rent is due on the 1st and late anytime after that.

Assuming you're trying to get these folks out, and you refuse to accept their late payment, I think you can then just wait the 3 days and post the "notice to leave premises".  I thought it was a "pay or quit" notice which implies that they have an option to pay, but I dug up one from my files and my notice simply says "notice to leave".  They weren't given an option to pay.  This may be Ohio specific.

Please update if your atty gives you any specifics here as I would be curious.

Is there a LAW that states that you cannot require a payment be made in a certain way?  I understand those that want to make it more convenient for tenants by providing multiple methods, but I'm curious about those that seem to think you cannot MAKE someone pay electronically. If this is a condition of your lease, just like any other condition of your lease, why can't you?  

All my tenants come to me via the internet (craigslist for the ad, online app, online credit/background check) and almost all have been in their 20s so by the time we get to the lease and rent payments I already know they are internet savvy, and as such I require online payments.  I'd be curious if I'm breaking some sort of law.  I would still allow a check if someone gave me grief about it, but I've not had that issue.

From experience, closing dates move, things happen.  The odds of him actually closing on the date he thinks he's closing are low.  Don't cut things that close.  What happens if you line up a tenant, then his closing date gets pushed back?  Make him pay until the end of March and sell it to him as security in case something goes wrong with his closing. At least he'll still have a place to live.