All Forum Posts by: Ivan Cortez

I have a duplex in Wisconsin and the upper tenant has just notified me that she lost her job 3 weeks ago and doesn't have money for rent this month. She said she has requested a check out of her 401K to cover rent but doesn't know when the check will arrive. When we mentioned possible eviction for non-payment, she was shocked that we would consider evicting her during winter. 

For context, the tenant is an elderly lady in her 70's who lives alone. I am writing this post in December in Wisconsin. She is currently just on a month-to-month. 

From what I have read, it is perfectly legal to evict someone in the winter. The fact that she is elderly and living alone does make me pause and consider what other options there may be which is what brings me here. Any thoughts on how others might handle this situation? 

I recently leased my upper 2-bedroom duplex to a football college student for the upcoming school year who now needs to drop out due to an injury. Though our agreement initially prohibited subleasing, we allowed it given the circumstances. Dealing with subleasing is new to me, so I’m seeking advice on how to proceed. The student’s parent co-signed, paying a semester’s rent upfront, covering them until year-end. The tenant is actively seeking replacements and mentioned potential interest. We would require potential new tenants to complete our application for qualification. If they qualify, would it be simpler to void the current lease and create a new one? Considering the upfront payment, I assume we’d refund based on the new lease start date. This property is in WI. Any other necessary steps?

Thank you very much @Joe Funari for the feedback. Your recommendation to renovate one unit at a time makes the most sense so that is the route I am going to take. I've never had to ask a tenant to leave so can you recommend the appropriate steps on how to do this properly for a month-to-month tenant? 

I am currently under contract to purchase my initial duplex, which will include two long-term tenants who are presently on month-to-month leases. Each unit is currently leased below market value at $595 per month and both would require substantial renovations, should I have to rent it to new tenants. Although it would remain profitable to keep the current tenants, I do not wish to displace them during the renovation process. As such, my plan is to transition them to a new month-to-month lease at their current rate for the first 90 days, after which it would increase to $675. This approach would provide adequate time for the tenants to determine whether or not they wish to continue their residency. If they choose to stay, it would be ideal as it would generate more cash flow without having to completely renovate. However, if they decide to vacate, I would have the opportunity to renovate the property while not forcing the the tenants to vacate, and could increase rent to at least $850 to new tenants. Potentially more depending on how it looks after the renovation. I welcome any feedback or suggestions on whether this strategy is appropriate or if there is a better course of action to pursue.

I have entered into a contract to purchase my initial duplex and anticipate acquiring two tenants who have occupied the property for a significant period of time. Currently, both tenants are on month-to-month leases, and the closing date for the purchase is scheduled for the 14th of the month. As the new landlords, what would be the appropriate protocol to follow with the tenants? Specifically, what are the recommended steps for introducing ourselves, and how should we proceed with regards to transitioning the tenants onto our month-to-month lease? Moreover, when should we provide the new lease for their signatures and when would it be appropriate to expect them to return it to us? Finally, is it customary to conduct all of these steps in person, or is it acceptable to transmit the documentation by mail and request a timely return?