All Forum Posts by: Jon A.

To put things a little more into perspective, my wife is thinking about a 10% bump and I was thinking more like 20-30%.

I don't think the tenant will want to move their business twice.

There are many nearby commercial spaces that have been vacant for many months. I'm worried about this.

Thanks Jon Klaus

Pretty close to market considering it's about 4.5 years into the lease.
The family was going to bump 3% plus 3% per year on the next 5 year lease.

Okay, it's time for my first question. My wife's family has a long time tenant, finishing the third of their 5 year leases. The tenant has asked for a 6 month extension in order to stay in place until the new construction on their new location is complete.

Should we bump the rent, for the extra 6 months?

No?
A little?
A lot?

For what it might matter, the rent is something over 8K.

jon

I must have missed the announcement...

A BiggerPockets Guide: How to Rent Your House [Kindle Edition]

I've been lurking because I haven't had a need or felt that I had anything to offer. I still have little to offer but the need is getting bigger :)

jon

Wow, I didn't realize that I've been lurking for nearly 4 months. BP has been a great source of info so far. Thank you to all that selflessly help others here.

My wife and I, mostly my wife, will soon be taking on the lions share of management of her family's trust. Which is to say that she is the most responsible of the siblings. As such she will probably retain "checkbook control" and be the primary contact with the professional service providers.

We are looking for...

People to network with in the San Diego (Ramona) area.

Help in finding local experienced real estate support professionals (CPA's, attorneys, agents etc.)

Beyond the "trust" we are interested in learning more about becoming involved as HML's. I think this more suits our goals and I don't think that we wish to pursue more rentals at this time at least not in SoCal.

My background is retired USN with a little retail afterwards. Owned one rental during my first enlistment, many years ago.

My wife's background is heavy retail, many years of ownership. She's recently been managing the family's portfolio of SFR's and a few commercial properties.

best
jon