All Forum Posts by: Davide Formica

Currently, I have waived late fees for 3 months and bi-weekly payment plan for those who need it.  

Let's see how things progress...

@Anthony Wick

I like that "rent should be a priority, right after groceries" - I will be using that.  Thanks.

What type of arrangements have you been granting for those who ask and qualify?  It seems like tenants will need far more than late fee waivers... 

What have you been telling tenants about offering grace period? Looking to see what you all may be doing about that. Some tenants are asking some haven't...

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000
Cash invested: $50,000

I lived in this house wince 2006 - 2014 at which point it became my 1st rental property.

I started using hellosign.com  I'm extremely pleased with it.

I agree with you, he could've whited out his name.

They qualified together. He strikes me as an honest man based on prior conversations.  I think that a new lease agreement without him on it, won't change their commitment to the lease (if he cares for his wife).  His wife will still be in the lease and he will still live there and contribute to payments.

The other part of it is that we'll end up with two leases.  Once he can use for what he needs with Medicaid, the other one can still be enforced...

One of my tenants contacted me to explain how his wife had their kids on Medicaid but since they are both on the lease (as of 3 months ago), Medicaid has removed their kids from the plan.

He’s asking to please get him a new lease with only his wife on it so that they can reapply for their kids Medicaid.

First time I get this type of request, I’d love to facilitate this for my tenant but at the same time don’t want to put myself in an unwanted situation.

So far, 3 months in, they have been punctual with rent; I’d say they are one of the best tenants I have right now.

Looking for opinions here. Thanks!

OK.  Two completely different opinions.    I'm looking forward to a few more so we can have a consensus.

I'd like to have all my existing tenants sign a Rules and Regulations addendum.

Some will not be happy with some of the new rules, especially the no use of fireplace.

Are tenants obliged to sign this addendum?  How do you handle tenants that don't want to sign it?