All Forum Posts by: Josh Bakhshi

 I agree, you need to first look at the lease. But what class of people are you discriminating against?  If they are making it uncomfotable for others, that should be reason to get rid of the tenant. It is a house, not a business

6% isn't the worst thing. But there are two major issues I see. ..

1, can you have a lease for 3 years? Most states have a 2 year max

2, what if the tenant doesn't stay for all 3 years? Do you get a discount? 

But if they stay 3 years or more, then you are the winner

I dint know the new York area, but we usually want at least 14 cap. I don't think that is realistic for ny

great plan

 I'm going to hold you to that. At the same time ask me and others any and all questions. Good luck my friend

count your blessings

get an umbrella policy. You will never be 110% safe but you should be as reasonable as possible. 

Good luck. Bay Area is a tuff market.  READ ASK LEARN.

You should look at this as a business decision.  I don't know your property or the area so I can't answer.  Are they currently paying market rent, higher or lower?  if they leave, how quickly or easily would you be able to rent it out? Their reasons are stupid (especially about the oven).  Tell them that times are very tough for you and you can't lower the price right now but maybe revisit in 6 months? No one is going to move before the holidays.

Nancy is right.  House cleaning and carpet cleaning are basic expenses as a landlord.  I might be a little easy on people.  But if they've been good tenants, I would give them a break.  You should have gotten a non-refundable pet deposit.  I usually get $100 fro cats and small dogs and 250 for big dogs