All Forum Posts by: Jodi Roberts

You could buy a primary residence and rent out rooms month to month or yearly to co-workers etc. That's how I got started, and I was able to save cash to buy another property. You could also look for a home that needs some work, make improvements to improve equity and take out a HELOC to fund the next deal.

@Bill B. Oh ok, thanks Bill! I appreciate your feedback 

@Bill B. The lease goes month to month after it expires, but I don’t think I can increase the rent without having them  agree to it by signing a new lease? I wanted to charge more for month to month since I can’t control when it will end.

@Steven Warner Thanks for the idea Steve! I will definitely go that route soon if I don’t get a reply.

@Kristel Daugherty Thanks for your feedback! They did confirm actually that they wanted to stay, but then they didn’t want to agree to the lease terms. I considered letting them do a shorter lease since I agree it wouldn’t be terrible to have it end in the spring, but I also don’t want them to get in the habit of negotiating and dictating the terms. I have a feeling they will stay for a while and not buy a house because of conversations I’ve had with them previously. 

Hi all,
I am looking for some advice regarding renewing a tenant's lease that is set to expire soon. I reached out to them to renew and offered a 1 year lease at the same rent they are paying now or a month-to-month lease at a higher rent (4% increase). They had expressed that they may be buying a house in the next year so I wanted to offer a choice. However, they said that they wanted to sign a shorter lease period instead (9-10 months with the option of going mo to mo after). I told them no as I just told another tenant at a another property no regarding a shorter lease and offered the same 12 month or month-to-month option, and I want to be consistent and fair. The tenant is now not responding for the last 2 weeks, and I'm not sure how to proceed. Any advice? Thank you!