All Forum Posts by: Account Closed

Hello,

Currently I am looking to serve a 30 day notice to a tenant that is MTM. I'm not sure when the right time is to serve this notice. The lease ends on the last day of the month according to our agreement and rent is due on the first with a 10 day grace period. Is there a specific time frame in which i need to send this notice? Also, would anyone have a draft letter ?

Thank you all in advance!

Peter Thanks for the information. That is exactly what I needed to know !!

Jennifer Congrats! I'm glad everything worked out for you. Did you have any issues from the tenants regarding the months that you did not have them on your OWN lease? I don't really know how this transition works for month to month leases. Are the tenants still governed by the previous landlords lease or is it a free for all until they sign a lease under my name? Pardon my ignorance, I am just unsure of this process.

Michael thanks for the reply! I think I will follow your same approach. I contacted the tenants yesterday by phone and one got back to me so far. I am giving the other tenants a day or so to call back then I probably will have to call again. I planned on pushing a rent increase as well but I would give them a two month notice to agree with or not. During those two months there rent would be the same. Hopefully it works out. In regards to the third floor tenant. I bought the house under a FHA loan which as you know is owner occupied. Hopefully me talking with the tenant about leaving will go over well. Who knows !

Hello BP Family! I've recently purchased a 3 family fully occupied. I'm very excited for this transaction as I've been on the website for a while and have finally made the first step towards my goals. My question for everyone is how do I successfully take on the new tenants with no issues? They are all currently Month to Month but I am not sure if I need to give them a new lease agreement (If they want one) or make them sign my own Month to Month agreement (I believe I should). Are they still governed under their previous landlords rules? Note: I have some lease agreements written up already and have written a letter to notify them I am the new landlord. I also have called all the tenants to mention I would like to sit when them in person to address any concerns. Lastly, I plan to occupy the third floor of the property. How would you guys go about letting the tenant know that he will have to leave the property ? Thank you all in advance!!

Hello, I'm hopefully looking for my CT investors to help me out with this question. I've been looking in the Middletown area for potential investors. So far I've seen nothing but good from this area. Up and coming downtown area, fresh and hip environment and right in the middle of CT! I guess I'm looking to see if there is anything that I am overlooking about this area and if anyone is familiar with it. Thank you!

David Dachtera Thanks for taking the time out to write that. I now understand what you're saying in your first post. I guess the question now is should I start this process once I have multiple homes our right now ?? Anyone please feel free to answer

David Dachtera Would you advise the LLC route as well? I've been looking into umbrella policies, wouldn't that gave me the same assurance of safety as an LLC?

Darryl Mekeel Wouldn't that be ineffective cost wise ?

Hello, I currently am new to the real estate scene. I was wondering if anyone has any advice on legal issues I should look out for when owning a rental property I know one question I have in mind is more so liability. My biggest fear is a tenant getting hurt on my property (i.e. Slipping on ice, down the stairs, etc). Is there anything that I should be aware or take precautions to prevent these things from happening. I know that I can't stop everything but if i could even minimize issues that would be great! Thanks in advance for all the help !!