All Forum Posts by: Jeni Nikolova

Listen to your gut.

You have put a sufficient amount of funds into the house. Do you see yourself coming back to the area?

If you don’t, selling the house, either now or within the next two years makes sense.

Mortgage at 2.1% is unthinkable these days.

Once you fully pay off the house, it will be a good source of passive income.

My family was in a similar situation 4 years ago and decided to keep the house. I am glad we did we had to put in time and effort into managing the house, which from a distance is not an easy task.

@Adah N., it is mostly because vacancy would cost me $5k/month out of pocket for mortgage and maintenance.

Most of us have been there.

It sounds like a break could do you some good but after that, go back to it.

If your offers are not high enough, would buying the property under some joint entity with your siblings be an option?

Are there properties that are not as attractive/may need fixing but would fit your budget?

Don’t get discouraged, sometimes it takes time to get the property you want.

Thanks @Nathan Gesner. I did an online search but wanted to confirm I am not in the wrong as one of the tenants is a lawyer. 

And the link to the article is from 2001, I hope not much has changed since then :) but one never knows

Hi,

We have a lease that states the regular terms for entering a property by the landlord - with at least 24 hours notice.

Are there any regulations on how far ahead of the lease expiration date can a landlord show the house in CA?

How would you approach viewings with the tenant?

This is a single family house, not owned by an LLL or a corporation.

@Ray Hage, this is very helpful, thank you!

Hello,

What is a good and (if possible) kind way to communicate to tenants that if they were to renew the lease, the rent will be increased at the legally allowed rate, which in this case is 10%?
They are currently in their third year and last year had $0 increase but the rent price includes pool and garden service.

I posted the home on Zillow, at 13% above the current rent, and there is a healthy amount of interest so my guess is the current rent is way below market rate.

I would appreciate insight from people who have gone through this and/or others who have good advice.

Hello,

What is a good and (if possible) kind way to communicate to tenants that if they were to renew the lease, the rent will be increased at the legally allowed rate, which in this case is 10%?
They are currently in their third year and last year had $0 increase …

I posted the home on Zillow, at 13% above the current rent, and there is a healthy amount of interest so my guess is the current rent is way below market rate.

I would appreciate insight from people who have gone through this and/or others who have good advice.

Thanks all for the thoughtful suggestions/additional venues to explore about why tenants think the unit is not as efficient as it used to be.

It does make sense to pay for inspection ourselves and we will.

Re: rent and cost of maintaining the property - rent is currently below market, and we raised it by ~1.5% after the first year as we naively thought that will keep the tenants happy, but that is irrelevant to the AC question.