All Forum Posts by: Dan O'Neill

Believe me, I would like her to pay as much April rent as needed until we get someone else in there, but can I legally do that?  From the statutes it says notice is not void just because it doesn't align with a rental period and that the time of notice is sufficient if it is equal to the interval between the times of payment.  April 4 would be 30 days from the first time she told me she's moving even if she did originally tell me end of April.  

@Kelly N.  Thank you.  It is advertised and I have been doing showings.  

Here's where things are fuzzy for me.  She told me end of April on Mar 4, verbal.  As recently as Mar 23 I have a text exchange that goes something like this:

Me after receiving update on her moving progress:  Ok will consider April as the last month as discussed

To which she responds: ok (then some more updates on moving)

Then she's gone end of March, less than 30 days even, and I'm left with an empty unit for April.

So if the new month comes before the 30 day period is up, does she legally owe all of April rent or only as much of April until that 30 day mark it hit?

Hey fellow landlords, need some opinions/advice.

I have a tenant on month-to-month.  The lease requires 30 days written notice to leave.  I got a text Mar 4 that she'd be moving with no date indicated.  After speaking to her, I got verbal notice that she would be leaving end of April.  She had been sending me text updates and as of Mar 23 via text we were still on April as the final month.  Fast forward a week and she's gone and doesn't want to pay April and I'm left with an empty unit for the month.  Thoughts?  

@Kyle Ostrander Welcome to BP, Kyle.  I am also in the TC area.  I don't really know much about Alpena.  I've never been over to that side of the state.

Northern Michigan Rental Property Owners Association (NMRPOA), a non-profit organization assisting landlords and real estate investors, will be having their lunch meeting Monday, March 4, at Harrington’s By the Bay. Please arrive by 11:30 to order lunch. Guest speaker for the meeting will be Karol Grove, owner of Alpine Land Surveying, Inc. who will be addressing the issue of flood insurance mandated by mortgage holders. All members and interested parties are welcome. To RSVP or for more information, please email Kathy at [email protected].

I met a STR property manager at one of our local TC REI meetups. He may be able to help you understand how you should look at it and how you could estimate your occupancy and rates for a given location. Send me a message if you'd like his contact info.

As an update:  

The guest speaker for the February 4th meeting has changed.  The new speaker will be @Brandon Krieg:

Brandon is a real estate investor and entrepreneur based in West Michigan. In addition to his extensive wholesaling work, he has managed flips, seller finance, lease option, and mobile home deals for many years.

He is an active member of the real estate community, as the organizer of the West Michigan Real Estate Investor's Club and former Board Member of the Rental Property Owners Association. He has been featured with many of the top players in the business, including Flip or Flop Atlanta's Ken Corsini, BiggerPockets, Joe Fairless, and the Art of Manliness.

He prides himself on being honest, hard working, caring, responsive, and reliable in his work and personal life. He is happily married with two amazing children, and loves books, boats, travel, and sports.

@Jacob Smith Sounds like you should talk to some lenders and see what your options could be and they should be able to give guidance on what they can do pre and post-creating a proper bathroom around the existing toilet, sink, etc.

@Jacob Smith A HELOC is a good way to go if you want to access equity. The main pro is that it's there when you need it, but you don't pay interest until you use it. Keep in mind using it should be a relatively short-term exercise especially when it's tied to your home. Often HELOCs have an adjustable rate which will probably increase from this point. You said you bought (are buying) on land contract. I could be wrong. I'm not super familiar with LC and I'm sure it depends on the particulars but wouldn't the property still be in the name of whoever you bought on LC from? I don't think you get title until the contract is fulfilled. If that's the case, you may not be able to access the equity.

@Account Closed  I would not rely on those sites.  Always go to the county website to find the SEV.  Then from there you can use the millage rate of the particular municipality to calculate what the new taxes will be.  The MI Dept. of Treasury has a prop. tax estimator which is helpful but this might not always be up to date: https://treas-secure.state.mi.us/ptestimator/PTEstimator.asp