All Forum Posts by: Jessie Niu

Technically, if the lease ends on a date and no one does anything to renew or cancel, then the contract concludes and that's that. But that's not what typically happens. It's pretty rare, in my experience with my portfolio, for a tenant to just be gone on 6/30 without saying anything one way or the other. Considering that we would have been in contact with the tenant before that, we would have some idea of their plans.

Conversely, if we don't want to renew or accept a tenant as a MTM, then we send them written notice reminding them that their lease terminates on X date, the process for cleaning and final inspection and getting their deposit back. Then, if they were still in possession on the next date, we would file for eviction and go from there. 

Neither situation has happened to me. We have reasonably good contact with all tenants and as such aren't surprised one way or the other by most anything. 

Bottom line: if you want them gone, make sure they know (in writing) that you want them gone. You can be nice about it, just point to the contract and that you are not going to renew. Where I live, you don't have to give a reason. Maybe you do where you are; check your local laws. 

Your state or county will dictate minimum requirements otherwise it is based on the lease.  It seems like providing a 30 day notice is always the reasonable action.

You say the cash flow is 4200$/month?

I have two residential rental properties that I enjoy very much. The time has come for me to move into the commercial market. I believe my niche is multi-family. I feel like giving someone a roof over the head is a great way to give back to the community. I am here to learn all I can and network with as many people as I can. 

My goal is to buy my first commercial property before I'm 31 (I am 29 now.)

"Multi unit buildings are still considered residential...commercial buildings are buildings rented out to businesses; like a strip mall, or office space, even a storage facility. "