All Forum Posts by: John Barry

Jonathan Safa Iam familiar with the landlord responsibilities to escrow monies (I have additional properties and real estate license) having the tenant never miss a payment sounds good to me? Thanks for reply!!

Kim Meredith Hampton with all due respect that could happen with any tenant. The death comment may be something worth adding to the lease, for example: if tenant is deceased prior to year end lease x dollars will be returned to payee?

Natalie Vane somewhat more comforting hearing this response, granted I appreciate and respect all responses, my goal is to cover myself and draft the lease in a manner that would do just that....

Illegal? Would never think that would be the case, but who knows. I should have mentioned in initial statement that this individual worked for me in the past, so I have some knowledge about him. The gentleman who is paying the money is NOT living in the apartment, it is for his mother and sister. His story, which I believe, is that he sold his house, (which his sister and mother were living in), made a profit, acquired a new house and wanted to relocate his mother and sister. I have met with him, I have had a lengthy conversation with him and I frankly believe him. I guess where my question was trying to lead was: how do I construct the lease to include him as the payee. And the other tenants as actual tenants who will be living there. This can't be the first time a situation like this had happened? (Thinking optimistically)

I have a potential tenant who just sold his house and wanted to pay for a full year up front on one of rental properties. My first instinct is that this sounds great. What issues should I worry about, if any and what modifications should be added in my current lease? Thanks in advance

Sai Toll my recent purchase is a 2 family house in Swampscott ma. I own a single family house as well. My long term plan is to buy and hold multiple properties. I also acquired my real estate license, first for the knowledge that came with it but also for the connections and the commission on any deals I do doesn't hurt as well. My plan is to get some tenants for the above property and hopefully by year end make an additional purchase.

Recently (yesterday) closed on a two family, I have a few possible tenants already, I would like to have potential tenants fill out application. Does anyone have a link to an effective, simple to use application? Thanks in advance

Thank you all for the replies. Having a diversified portfolio is one of my end goals. All of the above info is very helpful.

Looking at making a purchase of a 3 family, was curious if anyone knew the section 8 process. Pros and cons are appreciated as well. Would be in the 01902 area code of Massachusetts Thanks

This is all good advice. I probably should have mentioned. One of the units is in almost move in condition. I will paint, clean and look into refinishing hard wood floors The other unit, the 1st floor, is dated. I will be pulling up rugs, removing wall paper, refinishing floors and painting walls. The kitchen and bathroom are both also dated. The bathroom is literally solid tile everywhere which I plan on having painted a more modern color, like white vs the current green color. And as far as the kitchen goes I would rather spent the time and money to update it now to achieve the most potential return and connivence of renovating while it's vacant. Like I said I should have mentioned as this will affect available date for rent. Thanks for input.