All Forum Posts by: Daniel Luedtke

@Gail No new has been signed. @Linda I do have a copy of the original lease, and there is nothing on it about early termination. Just a clause about abandonment.

Ok, a little more to the story. This is an inherited tenant. I did not realize they signed a 2 yr agreement (expires June 30, 2018) with previous owner of property. I supplied a new lease agreement to sign mid Sept. for 2 reasons: One I thought their lease was up June 2017(misread lease agreement), and two the tenant was responsible for lawn care as part of lease, and has let it go terribly, so I was relieving them of their lawn care duties. Tenant is now saying this new lease agreement breaks the old agreement, even though they did not sign it. He is giving me a 2 week notice to move out now. He is threatening a lawyer stating the new agreement provided, breaks the old agreement, though again, he did not sign. I am fine letting them out of the lease early, but I told him he is responsible until I get it rented out again. Did I mess up getting them a new lease agreement? Or am I fine since they never signed it, and the old agreement is still in place? HELP!!!

So, a tenant in my triplex just gave their 30 day notice this morning. They have been on a month to month lease the last couple months, and I just gave them a new lease to sign last week. She informed they will not be signing the new lease, and gave notice. She said she just got a call and accepted to a new apt and will be moving Oct 6. Do I still have a right to collect the full 30 days of rent thru their 30 days from notice? Obviously I could pro-rate the rent if I found a new tenant sooner. Can I collect Oct. rent (prorated) thru their 30 days still? Thoughts and advice much appreciated!

Thank you Carolina E. Kim Meredith Hampton Kenneth Garrett This is my first multi-unit property, and I inherited all the tenants. So I'm learning first hand about inherited tenants. The main level tenants have it in their lease agreement that they are to maintain the grass and yard (ie. mow 1x per week and water regularly). He is also my complaining tenant! This unit's lease agreement is up at the end of the month. And I have the top floor unit on a month to month lease right now. Would you suggest raising the rents on all 3 (3rd unit lease is up in Sept), and just hire out the landscape services? I will copy the section of the lease which outlines the responsibilities of the tenant for sure! Really appreciate the feedback.

How about talking to other agents you work with? There has to be other agents that own rental properties, or has ties to investors you could take to lunch and build a relationship. Could help with both sides, investing and finding listings?

I think the best way is to dive in. Find a deal, and if you've run the numbers, and it truly is a good deal, then you'll be able to find buyers. Networking with a realtor would help as well. They know of investors, or have client investors that are looking for good investment properties. As I said earlier, if it really is a great deal, then you shouldn't have a problem wholesaling it. Even if you only make a minimal amount, it will be worth the education and experience. Good luck!

I am having issues with my tenants taking. Are of the yard at my triplex. I have received a couple courtesy calls from the city regarding long grass and excessive weeds and the grass dying. I called a couple lawn care companies to get quotes, and one was booked for the year, and the other quoted $3k!!! I ended up buying a lawn mower with the agreement with the tenants that someone would now it and take care of it, which is not working out so well. What is an average price for lawn care? Is it worth investing into a sprinkler system? Any advice would be greatly appreciated.

Thank you all for the feedback! I really appreciate it! So, it is $150 total for the whole triplex, so only a $50 raise per unit. On one unit, the lease just ended in Feb. so they are now on month to month. Other leases are up in June and August, respectively. So, I should able to present a new lease to the month to month tenants with the increase, and wait on the other two, until the leases come due to avoid conflict. I assume this would probably be the smartest way to approach it. The tenants all have been pretty good so far, and paying on time, so I hate to rock the boat at this point. Again, thank you for your input. Dan

I bought a triplex back in November, inherited tenants. They've been pretty good so far. However, the old owner was paying the water, internet, and trash (about $150-$175/mo). I want to up the rent to cover these costs. Anyone in Colorado know a good "landlord law" book for Colorado? Or, if anyone could tell me off-hand what the time frame for notice to tenants is, that would be great. Or the best way to do this? I was going to drop off or send notice of rent increasing. It does say in the lease agreements that these are subject to change at anytime. Newbie landlord, help appreciated! Thanks in advance! Dan

Thanks everyone for the feedback! Closed on the triplex yesterday! Officially a landlord! Found out previous owner just cancelled DTV, since none of the tenants were using it. Got internet setup into my name, and have it locked in at $50/ mo (for all 3 units) for 5 yrs, so I may just not rock the boat until the leases are up for renewal. Thanks again for everyone's advice! On to the next one!!!