All Forum Posts by: Joo Yoon

Hello!

So I have acquired a property in Allentown, PA that I had originally thought would be able to convert legally to a 3 unit residential but it turns out because of a couple of issues it can't. The property consists of 2 units legally. The bigger unit has 3 bedrooms and 2 baths with a separate entrance. It is an in-law suite.

My plan is to sublease the in-law suite. I wanted to figure out how to best go about doing this and had many questions as to the negatives of this strategy. Here are the questions that I have.

1) What happens if the subtenant does not pay rent? Can I evict them directly as the landlord or must the original tenant do this?

2) Is there a way to structure so that I have 2 separate leases with both tenants? (This would obviously be the best case scenario) I heard possibly using the number of occupants allowed that this might be possible? If so, how do I check?

3) As the unit does technically have it's own address, will it be a problem if the subtenant uses that address for legal registration?

4) Can the landlord collect rent directly from both tenants?

5) What other options would I have, if any?

Thanks for all your help in advance!

Joo Yoon

Hello!

So I have acquired a property in Allentown, PA that I had originally thought would be able to convert legally to a 3 unit residential but it turns out because of a couple of issues it can't. The property consists of 2 units legally. The bigger unit has 3 bedrooms and 2 baths with a separate entrance. It is an in-law suite. 

My plan is to sublease the in-law suite. I wanted to figure out how to best go about doing this and had many questions as to the negatives of this strategy. Here are the questions that I have.

1) What happens if the subtenant does not pay rent? Can I evict them directly as the landlord or must the original tenant do this?

2) Is there a way to structure so that I have 2 separate leases with both tenants? (This would obviously be the best case scenario) I heard possibly using the number of occupants allowed that this might be possible? If so, how do I check?

3) As the unit does technically have it's own address, will it be a problem if the subtenant uses that address for legal registration?

4) Can the landlord collect rent directly from both tenants?

5) What other options would I have, if any?

Thanks for all your help in advance!

Merry Christmas to the person who buys this DEAL! 

Located just 2 blocks away from the Government redevelopment zone! (Waterfront Project)

Commercial and residential properties supported by the government to drive Job growth! (Huge Upside!)

Market Rents in the area are looking at $2900-3200 after $20,000 Repairs! 

All tenants pay their own utilities!

Taxes are only $4624 a year!

Huge BASEMENT with Washer/ Dryer hookup for coin laundry + Extra space that can be divided and rented as storage units (probably 4) $100-200 a month each! 

Looking at a huge opportunity!! 

All together it has the potential to Cashflow at over $4000 a month (including basement income)

Don't miss out! All units need to be updated. Recommend all bathrooms and 3 kitchens be updated. 

Roof and foundation all in tact (Inspection report can be supplied upon request and proof of funds)

Closing should be before the end of the year! 

Will accept all offers until Christmas!