All Forum Posts by: Account Closed

Yes. To answer your question. 

I live in Lents so if you're skittish, that's fine; pass those deals onto me! 

If you have/can get gas at the property, you can install a gas range on a 120v 15 or 20 amp circuit (for the igniter and clock/timer), and, depending on the size of that unit, may not need to increase service. 

I have a duplex with 100A panels. Planning to add a third unit, but would need to move meters, which would cost $12k. So instead I made the dryer of one unit gas, cooktop gas, and water heater is heat pump hybrid (venting would have been an issue with a gas WH in its location). Space heat is already gas.

 I'll run either a 40A or 50A service from the unit that I converted (mostly) to gas appliances to a subpanel for the third unit. With LED lighting and energy efficient appliances, this should be enough for 600 sqft with a gas range, gas heat, and either shared hot water (from heat pump) or, in the future, gas on demand. This unit will share the basement washer/dryer with the other unit, but I'll plumb/wire it for a stacked gas W/D later. 

Circuits (may not be totally to NEC): 15A bathroom, 20A kitchen/appliance, 15A dishwasher, 15A lights, 15A plugs, 15A plugs, 15A furnace. (Technically, I should have a separate circuit for a fridge and another one for a microwave, but I'm not installing a microhood and the fridge is 10cf energy Star, so I'm keeping it simple with one 20A appliance circuit.)

If you have fuses, then may as well increase to 200A with breakers. 

 The landlord didn't pay this; the BUYER did. 

And this is how housing costs snowball out of control. No wonder only rich people can buy there. 

The more regulations and restrictions on development and housing, the less development. The less development, the fewer the number of homes. The fewer the number of homes, the higher the cost to buy. The higher the cost to buy, the fewer homeowners. The fewer the homeowners, the more the renters and the higher the rent. The more the renters and the higher the rent, the more the votes for politicians who promise rent and housing regulations, and the cycle begins anew. 

Thanks @Derrick Aragon.  

Haven't signed a lease, but have accepted a $1k holding deposit from the new tenant for a one year tenancy to begin June 2, for $1995/month rent.  

Current [high maintenance] tenant pays $1836. (They began their 6 month lease on December 1, 2017, so their rent is low).  I initially offered to renew for one year so I wouldn't have to go through the hassle of finding a new tenant.  But now I've already gone through the hassle of finding a new tenant.  

New tenant received glowing references and has been employed at the same environmental non-profit for several years, has good credit, etc.  

Last year, I had 2 months of vacancy (one in June and one in November after the June tenant broke their lease and I didn't charge a lease break fee), and I turned the unit twice.  Unless the current tenants did some serious damage in the 6 months they have been there (which I doubt), this should be a fairly straightforward turn (though new tenants are flexible on move-in date if it turns out I need more time).  

I would much rather have the new tenants than the current tenants, especially for $159/month higher rent.  With one day of vacancy, I lose $61 once and earn $1908 more for the year.  

I may have to rent an ozone machine to clear out odors.  If I do, this will get billed to the current tenant via their security deposit.  

Also hey! I've seen your ads for the 10-plex on Buffalo/Lombard.  I own one of those duplexes on Buffalo.  I've got a vacancy there now (not yet listed) so I'm always watching what you're doing down the street.  :)   If some of my lookie-loos want more square footage than 816 sqft, I'm happy to send them your way  (and if some of your lookie-loos want a bigger yard or a third sleeping room, I've got that down the street) ;) 

If it helps to clear anything up, new tenants are slated to move in June 2nd.  Current tenants' lease ends 5/31.  I hire a pro cleaning crew and will inspect the unit in advance of their move-out to make sure I don't need to hire more help for June 1.

Not sure how this thread got derailed but I appreciate the feedback from @Mindy Jensen @Joe Splitrock @Angelica Vargas and other people from the first page whose names I can't see.  

@Peter, thanks for that.  I'm familiar with the exceptions to relo, but this is not the case here.  My concern isn't so much with relo, as much as the tenants claiming they have a right to stay, and staying.  

Originally posted by @Ray Harrell:

 Thanks for your opinion, Mr. Harrell.  The current tenants have only been there 6 months.  If you want to run your business with a 17% vacancy rate, you're welcome to do that.  :)

 I gave them 2 options for lease renewal:  1, they could renew their lease for a year at the same rent, or 2, they could go month to month for an increase in rent.  

Here is the email one of the three tenants sent in March:

And here was my reply, cc'd to the other 2 tenants as well: 

I did not receive a reply to this though I know they all opened it (because of my email tracking software).  

A month later, that's when they asked to stay:  

". . . we already discussed our interest in discontinuing our lease . . .  "  No, you told me you were leaving at the end of May.  

 I'm pretty lefty liberal, but Portland City Council really outdid itself with that. They're now angling for rent control. 

I rented for 40 years, saved up to buy a duplex, and a couple years later, all the rules were flipped on their heads and the rug pulled out from under me.  Now I'm an evil landlord who should work for free because housing is a human right. 

Anyway, for people who wait until a unit is vacant to sign a lease, what do you do? Just let it sit vacant until you find a tenant? That could be a month or more of vacancy, especially given that the best tenants start looking well in advance of their move date. 

Julie Nearing the new tenants are phenomenal. Current tenants lied about smoking on their app and now the whole duplex always smells like weed. I've given them written warnings (probably why they didn't renew) but it's not worth my time and sanity to evict over this. I was kind of glad when they didn't renew. 

In Portland, we must give 90 days notice to change rent/terms or renew lease. Tenants' lease ends May 31. 

March 1, I offered to renew lease for June 1, no rent increase. March 30, they emailed that they didn't want to renew the lease. 

I marketed the unit and screened/accepted new tenants, accepted holding deposit in secured funds. Agreement signing scheduled for next week, June 1 move-in.

Today April 11, current tenants changed their mind and say they want to stay. 

I told them I've already got a new tenant lined up and they can't stay. Their lease says they must inform me 60 days in advance if they want to move out or renew, and they already said they wouldn't renew.

The question is, do they have any legal grounds to stay? In Portland you must renew a lease otherwise pay tenants a $4,500 relo fee.  I offered to renew, but they declined. I want to make sure I can keep my agreement with my new tenants that they can move in June 1. 

(I think once they started looking, they realized they had a screaming deal at $1836 for a 3 bedroom in 97217, and hadn't known how good they had it. My new tenants will pay $1995, and even that is a good deal. It rented with a week of listing, sight unseen.)