All Forum Posts by: Ernest Ho

@Mike McCarthy It was never marketed. Not mentioned in listing. Lease was signed with the restriction language in agreement. I offered to provide a storage shed instead. She initially agreed, but came back to tell me her lawyer and section 8 says she is entitled to use the whole house, including basement. I'm trying understand what a landlord is entitled in restriction of certain part of house

My rental property has a basement.   It is not habitable with low ceiling and narrow/steep stairwell.  Hence in my rehab, I have put in a door that I intend to lock and not provide access to tenant.  I understand there is no way of enforcing a waiver on the tenant to protect me from liabilities should something happen while accessing basement.  Also to note is the water heater which is located in the basement.

As landlord, am I allow to restrict access to basement?  I have already noted in rental agreement, but tenant is saying she has right to use basement.

This is a section 8 tenant. Not sure if it makes a difference.

Thanks very much for your advise.

-eh

I purchased home few months ago.  It's an old home with good structure, and i'm just done with renovation and moved in a tenant.  I just discovered there is a problem with the sewage pipe to the street.   Apparently the seller knew about it for many years but did not fix it.  This issue was not stated in the disclosure.  In this situation, should the seller be responsible for the sewage pipe repair cost? since this was not disclosed.  Thanks.

I am looking at a 4 plex where current rent is below market, and some rehab is needed. Would it be better to pay cash for it (assuming I have the ability), take care of the rehab and rent increase, before getting it financed? In doing so, perhaps the valuation can be higher, and I can get a bigger loan, as opposed to financing it at purchase? Does the bank look at comps as well as NOI for 4 plex? Thanks.

Any advise on how best to manage rehabbing out of state?  Let's say it's a 4-plex with light value add opportunity.  Is it best to find a property management who understands how to work with investors, and have them take care of the rehabs? Or would you find a separate contractor you can trust and have both work together? 

Appreciate sharing your experience.  Thanks.

Ernie