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All Forum Posts by: Gregory Rice

Gregory Rice has started 2 posts and replied 42 times.

Post: Tenant behavior...I cannot compute!

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

You did the right thing; file eviction. Stop the calls, texts, knocking on door, etc. Nothing you could have done to prevented this as you picked up someone else's baggage at the closing. This is usually the case when property changes hands. The former owner has no incentive to give the new owner a solid tenant, so they usually just let them hang out until you sign on the dotted line =). 

I have been searching through mass code and I can't find anything that states a door is required. Does anyone have any info on this? If yes, could you provide a link to where your information was gathered from? Thank you

Hi @Dan N. ,

When I receive post dated rent checks I do not cash them until they are "earned". By earned I mean until the date they are due. So, today for instance, if I receive a rent check for 6/1/2014 I will not cash it until 6/1.

Post: Notice to Quit needed, or just Letter?

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

@Rob Beland hit it on the nose for you @Christopher Reynolds . Getting them out for non-payment of rent is the easiest thing. We usually send a notice with return receipt requested so we know it has been delivered. Having it sent with a constable is also a good idea as well.

Hi @Johann Jells ,

I suggest asking the remaining tenant if they would like to renew for another year. If not, keep the situation as is. As long as the rent is coming in I wouldn't stir the pot.

Post: To Sell My Home or Not To Sell?

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

@Daniel Stratton My opinion is that interest rates, loans, historical home, etc. are all irrelevant when it comes to your family. Do whatever it takes to get your children.

Post: Tenant storage

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

Hi @Steven Bays

Here is Rhode Island we often come across similar situations with tenant storage. We make it clear that if the property has a community basement that tenants are storing items at your own risk. We get this in writing as well. Some of our buildings have individually locked storage units. This is a good route if you want to avoid any issues. The best route is for you to lock your basement and tell the tenants they don't have access.

Post: Real Estate License

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

@Justin Boudreaux Here in Rhode Island it is a requirement of obtaining your license to complete this class and pass the examination. It doesn't give you much useful knowledge about how things really work, but it does provide you with a solid foundation to build on.

Post: Check out our latest flip.

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

@Andrew Cordle Sharp!! Very nice work.

Post: Can you always make a tenant pay?

Gregory RicePosted
  • Investor
  • Pawtucket, RI
  • Posts 45
  • Votes 15

@Pam N. ,

I currently manage a couple hundred units in Rhode Island and Mass. To be quite honest with you I wouldn't solely rely on the lease to protect you in times of trouble. What I would heavily rely on is your initial screening process. You need to make this the most vital stage of your process because having good/bad tenants makes all the difference.

Additionally, if a tenant damages your unit you should not make them pay (because they won't). Let me give you a personal experience to detail my position.

I have a multi-unit building that I manage. One of the units had a leaky sink. The tenant submitted a maintenance request. The owner said "I'm not paying, it's not my fault this happened." In turn, we charged the tenant XX amount of dollars for the repair. The tenant never paid. The moral of the story is not in the present but rather in the future. If this tenant ever has any type of maintenance issue it is likely they won't report it because they know they will get charged. So what happens is they will let items (like leaks) occur and just deal with it. Now, when that tenant leaves in a couple years you (the Owner) will have likely have thousands of dollars in repairs caused by that leak.

Being a landlord is similar to being in a personal relationship; it's give and take. You take their money and you give them a quality place to live. If you don't provide a value you will lose the tenant and be stuck with an array of issues.