All Forum Posts by: Jon A.

 It is ironic that you ask that. I have not had this happen but I am simply pointing out the fact that if they do book through Air bnb and stay for 30 days then they have established tenancy and have tenants rights. We deactivated our mid term air bnb listing for this exact reason. Because we cannot do short term rentals in our area we chose to do mid term furnished in one of our units. We want to screen our tenants that stay that long. But somehow we got a notification that someone has actually booked it for one month even though the listing has been deactivated for several months. So now we basically have someone that has booked the unit that we have never talked to and have not screened at all that is assuming they have a place to stay for 30 days without any lease in place. We are trying to figure out what happened now and cancel the reservation. 

There is nothing wrong with taking a mid term tenant but keep in mind that they will have tenants rights.

What are you trying to achieve? What is your goal? Whatever helps you get closer to that goal is what you should do. Also, consider a 1031 if you sell.

Have you factored in the cost of the refinance? Also, consider the fact that heloc interest payments can be tax decuctible. A heloc is a line of credit and will generally fluctuate in the upwards direction. 

I have to agree with @Bruce Woodruff on this one. The cat and unauthorized roommates are a huge red flag to me. These people do not respect the contract that is in place at all. All that they had to do was ask and you could have said yes or no and handled it accordingly at that time. They are taking advantage of your good nature and will continue to do so. If the unauthorized roomate or unauthorized pet does damage who do you think will pay for it? The one lease holder is going to start pointing fingers at people who don't even belong in the house and are not on the lease. You basically have squatters with rights at this point in time until you get them on the lease. You also need to have them jointly and severally liable for each other. If I were in your shoes and you want to keep these tenants than I would issue a cure or quit notice along with a new lease if they plan on staying.

 This is the way that I see it. If either party is not comfortable or not performing according to the lease, either party may terminate the lease with the appropriate written notice. If there is a longer term lease in place, either party can become irresponsible or irrational yet the lease binds them together and makes them perform. Maybe the tenant doesn't like the neighborhood or the neighbor themselves and calls the landlord constantly to solve the neighbor problem. People can be very finicky.  I can think of several possible scenerios. Unauthorized pets, family members, off street parking issues, etc. Sometimes people just don't like the house after they move in. Can't fit their king size bed in the bedroom or the closets are too small. Utility bill is too high. Floor creaks or they really wish they had a dishwasher in an upstairs unit. The list goes on and on. People make sacrifices on both sides of the equation and sometimes come to regret it. I could give you some real life examples but you can read on any landlord forum and find them for yourself. You really need to understand your states landlord/tenant laws and what rights each party has in the contract. If the tenant pays on time and is respectful to me and the property they can stay as long as they want. I have had tenants for 7 years on a month to month lease. I currently have some for going on 4 years on a month to month lease. I don't have any reason to ask them to leave if they perform according to our month to month contract. 

I only offer month to month leases in my rentals. I don't have many but have been a landlord for about 15 years. Where I live, in NC, there is absolutley no benefit to the landlord having a lease any longer. You are not locking them in, they are locking you in. 

@Kelly Secosky It is my understanding in NC the 7 day notice to vacate is for the tenant not quitting the property. Your first step would be to a notice of non renewal of said lease and that would require 30 days at the time the rent is due. Then, if the tenant does not choose to leave on their own and in time, you can issue the 7 day vacate notice to vacate as their last option before the eviction process. I am not a lawyer and this is not legal advise but that is my understanding of it. 

non renewal of lease at rent due date=30 days

if they don't leave then 7 day notice to vacate before you start the eviction process=7 days

total=37 days then you can start the process of eviction if they have not left and turned over the keys to you

https://www.biggerpockets.com/...

I would speak to a lender about the process. If your husband is a licensed GC and has a business I cannot think of any reason why you could not hire him. Are you supposed to go out of your way to hire another GC that is possibly less experienced, less knowledgable and more expensive? That doesn't make any sense at all.