All Forum Posts by: Jinyu Shao

Hi all!

I'm going through an eviction with a tenant who has been living in my property for a few years. She stopped paying rent when the pandemic started. She now owes 30k in rent and is currently unemployed. Although I'm working with a lawyer to recover both my place and the rent, I'm not sure if, when, and how long it would take to get the rent arrears back. (That is assuming I will get my place back soon. Fingers crossed!)

Some more context, this tenant seemed to have been under a lot of financial and psychological stress. She has not been able to find a job for over a year. I'm worried that if she stays unemployed, and possibly homeless, it would be near impossible to collect any rent arrears.

If that's the case, I don't think simply evicting her is the best strategy. I would get my place back, but I would probably never get the 30k back.

Has anyone dealt with similar situations in the past? What did you do? Any suggestions are welcome. Thanks in advance!

Jinyu

@Abel Curiel thanks for the input. Yes please do recommend someone! I just added you back

@Nathan Gesner thanks for the comment. I have called around and spoke with a few attorneys, their initial suggestions were all very similar. I chose this attorney because he has decent reviews on yelp. I did not think that my tenant would take advantage of the situation like this, she seemed like a great tenant before the pandemic.. 

Hi all! I have a co-op rental in NYC and a tenant who has been living there for 3+ years. She stopped paying rent mid last year and applied for ERAP. Earlier this year ERAP denied her application. I issued a 90-day notice as soon as I receive the email from ERAP. The 90-day notice period has expired and neither I nor the attorney has heard back from her. The management confirmed that she's still living there. 

My question is, what are the likelihood that the eviction will go through? Will I get my rent back? I'm working with an attorney but he can't guarantee anything. I just wanted to get an idea from the community and landlords who have gone through similar ordeals. Any feedback would be much appreciated! 

I've been wondering the same thing! My property is in New York but my tenant has not been paying rent for over a year. Couldn't sell the home, couldn't kick her out, I even tried to help her find a job but nothing worked. Fortunately the eviction moratorium in New York expired in January, I'm going through an eviction right now. Fingers crossed I will get some of my rent back!

I heard some lenders can pause the mortgage but I'm not sure what are the exact conditions, might be worth it to call your lender to check. Good luck!

Thank you @Nathan Gesner @Drew Sygitfor the detailed reply. This is super helpful. I didn't even think that I would need to ask questions to that level of details, but it totally make sense to put more time into the selection upfront to avoid problems in the future!

Hi all, 

I have a two-family multi-family in Queens, New York. My family and I used to house-hack, but we have just recently decided to rent out both units. We've been managing the one tenant we had, it was manageable. But now our property is no longer our primary residence and we have two tenants (both section 8), I foresee managing the tenants ourselves would be more challenging, that's why I think it's time we hire a professional.

The only experience I had close to interviewing a property manager was a call with a local property management firm, didn't go with them because they were not responsive after the initial call.

I would like to know what I need to pay special attention to while interviewing a property manager. What sort of questions I need to ask? Is it better to hire an individual or a property management company? Obviously chemistry plays a part. To me personally, responsiveness is very important so I'll be looking out for that. 

I would love to hear stories of how everyone else found their first property manager/property management company too! Any lessons you've learned etc. 

Also open to recommendations in the Queens area. 

Cheers!

Jinyu

Update: I eventually told the tenant that if she doesn't move we would take legal actions. This seemed to be motivation enough for her. In the meantime, I tried to help her find a new place online and sent her some places to look at. The tenant left without any notice. She left the keys on the table and took all her stuff. She was still a couple month behind on rent but we decided to let it go. 

Thanks all for the input. I also found out later that it's likely not legal to rent out a room in the house. We were not planning to go through with an eviction. Should the tenant continue to stay without paying rent, we would pay her to leave. We were so relieved she decided to leave before we had to do that. In the end, although we lost some money in rent, it still turned out better than what we had planned. 

Hi all!

I would like some advice on what my lending options are for the co-op my family plans for buy.

The co-op will likely be purchased by a family member. It will be used as primary residence. Her and I already co-own a house and the loan on that is around 300k. She makes around 35k to 40k annually. Her credit is excellent and has rental income from the house of around 2300 each month. The mortgage is around 2000.

I have tried asking a few lenders a few years ago and they all think her income is too low and her currently loan too high to qualify for any more loans. I'm asked someone in Chase and she gave me a quote under 150k.

Is this an accurate number for conventional home loan? I also want to know if she qualifies for any other type of loans besides the conventional home loan? Are there any other factors that could improve her application?

Thanks in advance!

Jinyu

Hi all!

I would like some advice on what my lending options are for the co-op my family plans for buy. 

The co-op will likely be purchased by a family member. It will be used as primary residence. Her and I already co-own a house and the loan on that is around 300k. She makes around 35k to 40k annually. Her credit is excellent and has rental income from the house of around 2300 each month. The mortgage is around 2000. 

I have tried asking a few lenders a few years ago and they all think her income is too low and her currently loan too high to qualify for any more loans. I'm asked someone in Chase and she gave me a quote under 150k. 

Is this an accurate number for conventional home loan? I also want to know if she qualifies for any other type of loans besides the conventional home loan? Are there any other factors that could improve her application?

Thanks in advance!

Jinyu

@Cameron Tope You're right. It's not fair for us that she's living there for free when we still have to pay the mortgage.

@Dirk S. This was another mistake we made. A family member handled her move-in and she hired an agent who was flaky and unreliable. I doubt any background check was done. All I know is that she was supposed to get her housing voucher before she move in but was eventually rejected.