All Forum Posts by: Drew Slew

Theres a lot of HELOC threads, quick q: condo from 150k now is around 220k, second home, BoA seems to offer HELOC for it, could potentially take out 50-60k at 5-6% interest, first 12 months lower interest. Payments seem much less than credit card, student loan payments, and id use it also to purchase another property - w cash savings pooled together.

Any ideas on why I shouldnt do it, or do cash out refi etc? Condo is on great 30yr interest at 3.6%

- non payment of monthly 350-400/m HELOC would cost wont be an issue

- understand its a 2nd lien on the property and bank can foreclose on me

- understand its variable interest rate, but how high will it really go one day? over 10% interest? 

@Mark J. you already saw my comments, east of ocean definitely nicer IMO too. im trying to piece together developments and whats going on, but hard to say. one thing i did notice is the police activity has really amplified - its either a real bad or real good sign. in the middle of my street there were actual gang houses, now they are all vacant.. i think spring/summer buying frenzy will bring in a lot of new residents into Greenville. every contstructor that came to do work at my place said its a good buy. 

see big new buildings being built right around the mcdonalds next to highway 78 and there are other big new developments after the Bergen Lafayette bridge when you drive in from JC downtown.

can 1 room be legally rented out in a 2family unit, where 1 unit is fully rented, and owner occupies 2nd unit but rents 1 room out? also, owner occupancy meaning owner has 2 houses within 5 miles and occasionally stays at one, than the other. all mail, registrations etc are in the owner occupied unit's address.

there is no set rule for owner occupany meaning you have to stay every single night here for 6month+ (say someone had a girlfriend and occasionally stays w her for months etc)

Specifically this law: http://www.kostrolaw.com/NJFamilyIssues/2015/10/08...

The Anti-Eviction Act (the Act), N.J.S.A. 2A:18-61.1 to-61.12 permits the “owner of a building of three residential units or less” to oust a tenant if the owner intends to “personally occupy a unit.” N.J.S.A. 2A:18-61.1(l)(3).

Thanks guys, useful. Really my main question is can a landlord who owner occupies unit w room rental tenants w lease (but lease lets say is not legally enforcable without rooming house license - if needed), so all tenants are lodgers / tenancy at will, can a landlord move everyone out in 30 days because he decided he wants to live in his whole unit now and serves them a simple Notice to Quit in an email or maybe mail it himself?

2 family unit, second floor 4 room 1 bath has 3 rooms rented, 1 room landlord lives in:

some complications appeared and landlord wants them all out, as 2 tenants are withholding march rent (had some HVAC issues, no CO detectors etc but all that got fixed within 3-5days). Tenants claim Jersey City came out and inspected things, shut off gas and told them to not pay rent. Landlord never received any of this notice.. seems tenants are making things up to not pay rent?

Question - how to evict them fastest or have them legally stay and mitigate any arguments against landlord:

ISSUE

1) Issue is the room rental, there is ambiguos rooming house permit issue that is sometimes needed, sometimes not, JC doesnt really handle any of this and generally 2 family houses seem to not be considered for rooming houses. Tenants are trying to attack that their lease is illegal etc - which still makes them a month to month lodger or tenancy at will, no?

2) Tenants might argue against landlord due to hvac heating, gas leak etc fixes, say it is landlord negligence etc etc. Not sure how it works, but this has been all fixed by licensed contractors, so they would have to attack 1-2 weeks of bad living conditions? Seems comical.

SOLUTIONS:

- this is an owner occupied unit (landlord lives in 1 room), so he can send Notice to Quit to anyone anytime and have them out in 30days? One reason it seems cannot be countered is simply: sorry guys, landlord decided he doesnt want tenants in his unit anymore and will occupy all rooms from next month. Please vacate asap. 

- put all 3 room tenants under 1 lease so all the "illegality" and the rooming house question disappears: now its a legal lease that has 3-4 tenants on it sharing one unit. Not roommate lease, one single lease w everyone on it, or one person on it and they divvy up the rent. Have them sign this, then asap evict all of them or serve them a notice to quit - because it will still be owner occupied and again owner decided he will actually now live in all the rooms.

Or is there something landlord is missing and is not seeing? and will have to pay major fines around 5k, get sued in civil court, pay 6months of relacation expenses to EACH tenant etc etc.

@Johann Jells after talking w lawyers/property managers it seems these room rental tenants can easily be evicted:

- this is an owner occupied unit (landlord lives in 1 room), so he can send Notice to Quit to anyone anytime and have them out in 30days. One reason it seems cannot be countered is simply: sorry guys, i decided i dont want tenants in my unit anymore and will occupy all rooms from next month. 

- put all 3 room tenants under 1 lease so all the "illegality" and the rooming house question disappears: now its a legal lease that has 3-4 tenants on it sharing one unit. Not roommate lease, one single lease w everyone on it, or one person on it and they divvy up the rent. Have them sign this, then asap evict all of them or serve them a notice to quit - because it will still be owner occupied and again owner decided he will actually now live in all the rooms.

Or is there something I am missing?

@PJ M. thanks a lot. yes, state confirmed it is a rooming house, so now im in a mini catch 22. i have grounds for eviction, as none of 2 rooms' tenants didnt pay march rent by the 5th (latest date in the lease), but on the other hand we dont have a rooming house license/permit. 

To my understanding, i either get a permit, and then evict, or do both at the same time (not sure how that would work, as one is slower process than the other), or just pay the fine for not having a permit if anyeone ever comes out to check, or just offer cash for keys. 

@sriyalam me

Id need some referrals for good landlord attorneys in Jersey City and how to obtain (if even needed) a rooming house permit, and other smoke/fire etc permit for renting to tenants in a 2 family owner occupied unit, south Jersey City. thanks