All Forum Posts by: Gehmelle Johnson

@John Underwood, she requested half of her rent..go figure. Her rent payment is the one I use for reserves. I am defiantly incorporating that she pay the remaining balance of the rent.

@Patrick McGrath-One of my tenants requested a reduction due to hours being cut...blah blah.. How are you writing-up the addendum to the lease, what terms are you incorporating into the addendum about paying back the balance of the rent?

Good evening Real Estate Investors!

I have been a landlord for about 11 years and still finding myself learning new business techniques, and styles. I own a total of 5 units, a multi unit (in which I reside in one) and a condo- DMV area. I must say, I became a bit worried when they mandated businesses to be closed due to covid 19-some of my tenants make fair wages. Gratefully, I received all rents this month! However, one tenant (who paid this month) sent me a letter today requesting a reduction in her rent due to her hours being reduced in response to Covid19.  

Question: If I proceed to agree-would I just add an addendum to her current lease outlining the balance needs to be paid once she returns to full time- how do I go about doing this.. I want to do the noble thing-she has been be late a couple of times but, has been consistent with her rent. Should I allow for some thing like this or will this become a **** show... Please advise. Torn..

@William Allen!

Love your enthusiasm and hope you are right. I have a feeling too that the market is set for a while. The one big scare we had years ago left people insecure about investing and cautious about real estate change during presidential switch. Even Baltimore market has increased leaving me to compete a little bit more. 

Thanks. 

Cash Flow is the bottom line, if a tenant pays timely, they are ideal! Maintenance costs comes with the territory-especially if resident has resided there for a long period of time. Things naturally will have there wear n tear. Totally agree with proper screening, I screened for a tenant instead of utilizing my realtor. Totally worth it!

Hi! Happy New Year! Let's make some money!

I am a current Landlord in the DMV area looking to take my investments to the next level. I have been looking to complete a flip project in Baltimore however, I am trying to determine if I should wait to see if the market changes. I also want to monitor the current housing policies-to see if there will be a collapse depending on how the presidential election goes. Please advise.

-Gehmelle

@Amy Beth. Agree To be honest, I sense this would happen, because I live in my building and witness the frequency however, I didn't know it would result in her breaking her lease. Moving forward definitely will be placing a termination clause within the lease, because do not want to be doing this over and over again. I think I don't expect people to break agreements. When I was renting, I was so careful about breaking any terms and conditions in my lease. It's business but, I dread turnover.

@everyone,  the feedback is very helpful!

@Russell Brazille thanks and that helps immensely. Do you use a certain regulation handbook you can refer for d.c., I typically go to D.C. Housing code but sometimes not very clear. 

@Anthony, you are correct it is business however, it is an big inconvience, her lease doesnt expire until Oct 2019. Also most costs are in the turnover, depending on how tenant treated the property. On average it takes like 2-3 weeks to get property ready, at least for me.