All Forum Posts by: Jackie Cramer

Not in our plans to sell. 

we have our primary next door.

we have reno'd and will be signing our first tenant for it next week. Rent north of 3k.

My husbsnd has 7 years left in a property we are living in now. We are starting the journey of development. 5/6 homes or 12/16 townhomes depending on market and friendly planning/ zoning boards.

the 2 rentals sre our retirement fund. No debt on rental. Primary has 75k left.

Market rate on each is kinda nutz right now. Either side of 600 each based on a 3 doors down sale aittle over 800.

There's more. Part B is the primary has a large lot and with luck can be subdivided where we would like to build a suitably sized for our retirement likely using proceeds from husbands family home.

Greetings to all fron NJ.

late 60's couple, husband died unexpectedly at work, just before Christmas.

SFH. They have been wonderful tenants...period. We were blessed with their tenancy.

Their plan was a move South in 2 years. Now the widow is staying thru her lease  which ends in May.

In talking with her she expressed a 'possibility' of wanting to stay past lease end, a month or two.

in short that doesn't work for us. Some upgrade is warranted and I anticipate 2 months to reno and re rent. 

Too, rents have skytocketed here and a very significsnt raise is called for with new tenants. (like 500+ more)

if I give notice of non renewal on Feb. 29, thats 90 days. Our lease requires 60 and it also has an ELT clause, but again she says that she will complete the term.

This is a new issue for us and do realize its a business decision.

Any suggestions on navigating these waters, or do I have to get fitted for a Simon Legree hat and cloak.

We have recently asked for rent receipts and/or bank statements (harder to fake)for 9 months or more.

zillow and MLS helps with the 'the LL sold/is selling the house" claims.

We just filled a SFH in 4 days as our corner of the world only had 3 SFH for rent. Many squawked about the price, a few knew the score

Our hope and concern at this moment is the sustainability of the market

As this is to be a partnership the you each need an attorney to represent the individual interests and draw up negotiate a partnership agreement and how it will get divided up when the project is completed.

good luck

You msy consider calling your locslhousinh authority, the ones who handle the Section 8 program

Even though you may not want to use the program, it could open your eyes.

I  have done this and been suprised at how much they pay....or how little.

PS. I do not give them my address, just zip code.

Get  dog whistle  you know the ones thst are too high pitch for human hearing and stsnd outside the unit, eay am or well sfter dsrk, put your lips together...and blow. There will be your proof

If rents are near market and the tenants tolerable i might let it go for awhile. If you want to turn one/some units the pick the worst of the lot and follow your state laws to evict.

the others may then learn to be cooperative.

who is in charge here

IMO not only should you have an attorney in each state but consider one  in each county/state/jurisdiction that you have property  in

As residential real estate is local  having local legal talent can be of great value.

Who are you in this?

perhaps the party with the child was not qualifiable.

Maybe the new listing specified a BR + an office.

Could there be rules that an owner occupied triplex does can be more selective than larger multi families