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All Forum Posts by: Marci Stein

Marci Stein has started 206 posts and replied 927 times.

Post: Tenants Using our SFH as a Hostel

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

My states who is living there . I would not be comfortable with strangers sleeping in my home. This is a violation of the lease.

Post: Mentally unstable tenant now M.I.A.

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

I have the impression he is a paranoid schizophrenic, and if he is actively delusional, you could potentially be in danger. This is not a situation you want to be in . best that he live in a supervised home.

Post: Thoughts on Waiving Inspections?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

I have waived inspections on a few purchases. I assume it needs almost everything, so the purchase price has to make it worth my while.  however, I have to be very familiar with the property and location. 

for me It has been a way to grab up properties that other people want who have more criteria. 

Post: North Adams, MA - from industry to arts

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

North Adams has a long way to go before it is not impoverished and flooded with crime and drugs. Whoever buys in that area is definitely looking at a very very long term  buy and hold situation, most likely with evictions in the process

Post: $10,000 against tenant pursue or forget about money owed?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

Why would you not pursue it? 10 K is not a drop in the bucket .
I would not let it get to that amount next time. If they are late for one month I give them a three day notice.

Post: Non renwal lease form or letter?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

I’ve decided to sell and not renew my tenants lease. However, I would offer her the option of staying up to 60 days after her lease ends March 1 , 

since she has been there 10 years.

Anybody know if there is a formal 

non-renewal lease form 

I should send, a regular lease for 2 months, or simply a written letter of my own ?
Thanks!

Post: Great tenants, but want to sell house

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

Thanks very much Laura . I appreciate your reply.

Post: Great tenants, but want to sell house

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

I’ve had beautiful tenants for 8 years - 

never once late with paying rent, 

but I am ready to sell the house.
The lease ends in 3 months.

What’s the best way to let them know I’d like them to move because I’m selling ?
They cannot afford to buy it. 
should i go month to month or not renew at all ? Thanks very much!

Post: Tenant terms lease 2months early and she's hoping to get a security deposit back

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

What is the point in having a lease if you’re not going to adhere to it? I would not have let her out one month early unless she pays for it.

Post: Tenant Responsibility or Wear & Tear?

Marci SteinPosted
  • Rental Property Investor
  • New York, NY
  • Posts 942
  • Votes 501

What exactly is wear and tear anyway ? if the condition is not the same as when they moved in , then they are responsible.