All Forum Posts by: Joe Windsor

My wife and I own a duplex in Missouri and live in NC and are hoping to get another unit out here. Does anyone have knowledge to cameras on your properties. Can we put cameras on the outside of our properties or is that an invasion of privacy?

My wife and I purchased a duplex in Missouri in March of 2020. A good friend of mine suggested we rent out the other side. We set up an LLC and did. We moved to NC in mid 2021 and the property became a full investment property for us. My friend keeps telling me to put the property under the LLC name which sounds smart but I don't want to get in trouble since we purchased the property with an FHA loan. Is this possible? If so what steps would I have to take with our titling company?

My wife and I are coming up on our 1 year of owning our first rental property (Duplex that we live in one side and have updated it, have tenants on the other side and have done minimal updates). We remember of the 4 years in our apartment even without any updates for some reason rent always seemed to increase. We just wanted to get a lay of the land especially during the pandemic are landlords still increasing rent this year or giving tenants a break from that?!

My wife and I are new Duplex owners and put in our contract that they need to have renters insurance (just because that’s what we’ve had when we rented). We had pushback from it because “they’ve never had renters insurance before”. Is it a big liability for our tenants not having insurance our is it a minute problem that we can overlook?

Thanks for any insight given here!

[UPDATE]

I’ve obtained an old lease and it was from April 1, 2018 - April 1, 2019. So he is on a month to month. After talking to a good friend of mine I changed my lease from a year option and a month to month option to a solely month to month lease. Also I changed the month to month price from ($1,000) down to ($800). He was only paying $705 for two years and rentals just like mine around here are going for high $800 to low $900.

He’s responded back with he’s supposed to get a 60days notice from me but I responded in Missouri on a month to month I only need to give 30 days.

With everything going on what are some of your guys’ opinions on the situation?

@James Wise

I appreciated the game!

@John Teachout at this point with how difficult he’s been I’m ok with him vacating.

I’m in Missouri and as long as it’s month to month there is no statute on how much notice is needed to increase rent.

The unfortunate thing about this situation is I took over possession on the 10th. Tried to get in contact with the tenant. Didn’t reach him until the 13th and now he’s not cooperating.

So yes I agree that price is a bit high. But it’s to deter tenants from the month to month and go with a year long leave for stability reasons. He’s been in the apartment since April 2018 and has been paying the same rate the entire time.

Hello again everyone just an update on where I’m at. Finally made contact with the seller last Friday before things became even more insane. Had a “decent” enough conversation about needing to meet. He works for the us treasury department and was out of town on business and isn’t supposed to be back until the 25th.

I don’t see him making it back back by then because everything just continues to escalate. So I asked him today 1. Have you sent the rent for March yet and 2. What is a good email for me to send the new lease to him.

He tells me he had the hotel he’s staying at send out the check for him but refused to give me an email saying “we can go over it when he returns”. I told him even though earlier we discussed talking it over when you get back with the situation being so fluid right now I’d like you to have it in hand that way you’re informed on any changes (cost of rent will be going up) and have it signed by the first seeing as his lease is up at the end of this month and will need to sign my lease for a year term or go month to month.

His old lease he was paying $725 on a month to month basis in a 2 bedroom 1 bath, 1 garage and basement duplex. I’m taking the 12month lease to $775 or month to month will be $1000.

With how crazy things are right now I guess my question is what are you guys’ thoughts on this?

@Adrian Fajardo 

@Pete M.

Guys thank you so much. I definitely appreciate all the advice. Makes me less nervous about this decision, but still nervous none the less. I like the idea of setting a date and time to meet but also talking to a lawyer about my options here. 

@Caleb Brown no sir not in the mls. my realtor did keep telling me the tenant was on a month to month so I'm just wondering what to do. 

@Trent Stone that actually doesn't sound like a bad idea at all. I will def look into that.