All Forum Posts by: Jendayi Brandon

@Jendayi Brandon I had a tenant who would consistently push things to the edge, I actually had to write in the lease rent was due by close of business on the 5th or he would be charged a late fee. I wound up telling him rent received after the 1st is late even though by law I couldn't charge a late fee until the 5th, he corrected his behavior some and we parted ways eventually.

Yes, you need to leave the 10th and eat it but I would just be clear rent is still due on the 1st despite the grace period. It's a power struggle for some people.

Absolutely Colleen,

As I stated in some of my other responses, this tenant and I have history. I've taken her to eviction court but she paid all her back pay and fees so my husband (he's the softy) decided she could stay. She's been in the apartment for 20 years so we do try to give her a little grace. But definitely the kid gloves are off now.

Thank you

1 Vote

Atlanta, Georgia

Quote from @Nathan Gesner:

Yes, you have to honor it.

Your tenant doesn't want to pay by the first, so that's a red flag. Just keep a close eye on them. Don't waiver in your terms. Charge the late fee when it is due, every time. Start the eviction process on the first available date, every time.

Yes, you are right. We have history with her payments but I will be ready to respond as needed EVERY TIME, as you suggest.

Thank you

1 Vote

Atlanta, Georgia

Quote from @Chris Seveney:

@Jendayi Brandon

Yes unfortunately .

It's what I kinda thought...

thank you

0 Votes

Atlanta, Georgia

Quote from @Tim Baldwin:

Most likely, yes, especially if you have a clause in your lease stating that the written agreement reflects the latest understanding of the parties as to the rights and obligations and that no other promises or statements shall be incorporated to the lease (a preeminence clause). There are times that a typo may not reflect the parties' "meeting of the minds", but there would have to be extrinsic evidence to prove what the actual agreement was. If you don't have anything showing that he agreed to the late fee date being the 5th (and agreed to it), then the court will enforce what the lease states.

I thought if I could get her to agreed we could sign and amendment but since she doesn't want to sign an amendment and has reached out to confirm her rights (with another landlord/owner) I won't push the issue. I will be prepaired to act swiftly when the payment is due. Thank you for your response.

0 Votes

Atlanta, Georgia

Quote from @Tim Baldwin:

This is not the first lease. She was an inherited tenant and it's our fourth lease. All the other leases allow 5 days before the late fee. I'm kicking myself because I was having some technical issues with the format when I tried to update the lease document in MS Word. I should have read it more closely.

0 Votes

Atlanta, Georgia

Quote from @Kevin Sobilo:

@Jendayi Brandon, I would say yes.

Even if your error was one that made the lease ambiguous, most states have laws that favor the party that did NOT write the contract (lease).

Since your error was not even ambiguous, I don't see how you could fight it. You wrote it, read it, and signed it. Its hard for you to claim in court that you didn't intend 10 days.

I personally review the lease section by section before they sign it. So, any small errors if they exist are likely caught then because we are all looking at the document and discussing each section.

Thank you for your response. I understand the problem - just wanted to be get check in with the experts here.

1 Vote

Atlanta, Georgia

Hello-

I made a typo on the lease that stated rent would be late after the 10th or each month but it should have been the 5th. My tenant is refusing to sign an amendment. Is this one that I have to eat?

-thanks

1 Vote

Atlanta, Georgia

Hello all! I know its been a while since I posted the questions about the triplex I'm renting. I have read all your responses and take great value in your advice. In the end, we gave the tenants 3 months notice that the rents would be raised 25% at the end of their existing lease and each year until they reach market rates. They all chose to stay. We updated the HVAC and fixed some small problems. Problem adverted (until the next lease period.)

Thank you again for your thoughts. I appreciate you taking the time.

-jendayi B-Sao

1 Vote

Greetings all,

I just closed on a triplex. My first multi-family unit. The previous owner has never raised the rents once each of the tenants moved in. The rents are low right now but the landlord agreed to supplement them for 6 months. They are all long-term tenants (20 years, 9 years, and 2 years) and it appears they keep the units and the grounds very well.

My first question is, can I ask for increased security deposits when if I renew the leases so that it is more in line with the new lease amount?

Second question: What is the best way to get these rents closer to the market rate? The tenants are currently 25% - 35% below market with the leases ending 2/2/2022.

I am empathetic but want to be able to cash flow as well. AS it stands I'm breaking even.

Thanks for your thoughts

-DI llc

0 Votes

@Mindy Jensen what protocols are being put in place to prevent the spread of Covid-19

4 Votes

All Forum Posts by: Jendayi Brandon

Jendayi Brandon has started 4 posts and replied 18 times.

Post: Due date error on the lease

Post: Due date error on the lease

Post: Due date error on the lease

Post: Due date error on the lease

Post: Due date error on the lease

Post: Due date error on the lease

Post: Due date error on the lease

Post: Security deposits for existing tenants

Post: Security deposits for existing tenants

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