All Forum Posts by: Albert George

@Shenice B.

Yes that right its listed in an auction site and says cash only. How would hard money work for this ? 

Hi All,

Need suggestions and direction to proceed.

I am looking at an Auction property which I want to buy as an investment. The bank needs cash for this property, however I can only secure a loan for which ima already pre qualified. 

What are my options ?

The tenant informed me about her intent to terminate the lease on the 15th of the month. My lease states a 2 month notice is required. She vacated end of the following month, even tough i told her my new tenant will be moving in at a later time only.

My new tenant moved in only 2 weeks later. That is why i am at a loss of 2 weeks rent.

Regarding communication thru Email : The tenant gave termination notice thru email, I didn't receive any mail written notice, so the agreed upon medium of communication has been email. I had sent the deposit notice thru email for the same reason.  I believe Email is considered a Written statement. I don't think the tenant can claim that she didn't receive the notice has she had responded back to my email.

@John Thedford : I was not planning on withholding the deposit at the time when i agreed to let her break the lease.

But later when i figured i had loss of rent because of her early termination I sent her the statement highlighting my losses.

Also because she had pets i had to clean the carpets for the next tenant. I did the cleaning myself.

She gave me notice on the middle of the month and moved out the next month end. Technically isn't she supposed to give 2 months notice as per the lease?

I told her my tenant wouldn't move in when she leaves, but she said she cannot move any time after that. She didn't honor the 2 months notice.

Also it is not that she brought the pet in the middle of the lease. She signed the lease and even before a month i find out she has pets. So she had pets from day one and signed a no pet lease. She says i was ignorant about the pet policy and i think that is cheating.  So she breaks the lease in 1 month after signing a 1 year lease.

Deanna,

She wanted to terminate the lease. And i said yes. Because i didn't want somebody having pets and violating the lease and not willing to pay a pet deposit. 

She said she could stay till i find another tenant, but left 10 days before the next tenant moved in. So lost 10 days of rent and also i had to drop the rent to get a new tenant .

I have a past tenant of mine, who filled a claim for unreturned security deposit. Below is the situation

She broke the lease before the 1 year term. She violated the lease by having pets and when i enquired she was not willing to pay the pet deposit and terminated the lease early. I let he go and found a replacement tenant. I lost some money because i could only rent at a lower rate and few weeks after she moved out.

I sent her an email explanation before 21 days of her moving out on the loss of rent / advertising / marketing / showing expenses etc and mentioned i was at loss and cannot repay the deposit.

Questions : 

1) What are chances of defending myself at court, This is in Minnesota small claims court.

2) Is Email considered a valid medium of communication to send the Deposit statement explaining why i cannot refund deposit. I have a response from her on that to prove she received it.

Thanks for the reply Kelly that helps. Income is fine if both together qualify. But other requirements like credit score the new tenant has to qualify correct. 

Also instead of having to start a new lease can keep the old lease and just add this person into it ?

I have a existing tenant who wants to add a roommate. How do I go about. 

I assume I will have to qualify the roommate on the same terms as the tenant. Should the roommate also qualify individually for the 3+ income requirement?

Should i include the room mate into the current lease document that I have with the tenant. Or sign a completely new lease with the roommate?

Can I have two lease documents on the same property?