All Forum Posts by: Gary Jordan

If that’s the house I’m thinking of... Great work.   Did you GC or are you the guy doing the work?

Gary

Gorham Landlord (8 doors all in gorham)

Interesting I hadnt really thought too much about holding the seller accountable.  I probably could have gotten her to cover it if I threatened to walk. But it is odd to ask (to have to ask) for the seller to pay for a deposit which should be returned if there are no damages at move out.  I'm tempted to concur with the hardball with the tenant.

Thanks

Good Evening BP,

I recently purchased a 4 unit multifamily that was fully leased.  One of the apartments was recently (28days earlier) leased to a new tenant.  The  lease required an $1350 deposit.    The tenant and landlord signed a lease to that fact.   However apparently there was a verbal agreement to allow the tenant to pay $100 a month because she could not afford the deposit.   During closing the former landlord disclosed that the tenant had yet to pay her first deposit.  Because the former landlord and the tenant entered the verbal agreement I decided I would play ball and honor it.    Fast forward 2 months and the tenant still hasn't paid a the $100 monthly.  However she has paid her rent on time and has now scheduled her first $100 deposit.

Because of the poor verbal agreement I am tempted to make her sign a new lease or give her a cure or quit notice with clear written expectations.

Thoughts or other options/opinions?

Gary from Maine