All Forum Posts by: Justin Letkiewicz

currently needing to upgrade a new property of mine and am stuck trying to figure out which would be my best option to go with: Combination CO2 & Smoke alarms that are 10yr sealed or just plain jane battery operated. I've been seeing a lot of negative reviews and comments around sealed units going off WAY before they are supposed to or just giving false alarms in general. 

Please let me know your opinion or if you have any experience and prefer one over the other! 

@Sam Shueh @Kim Meredith Hampton @Michele Fischer @Shaun C. @Megan Phillips @Andrew B.

Thank you all for your opinions. Luckily we were able to move through the plan with the tenant being out and the inspection was completed on the 11th. I can say that this being my first move-out inspection and it being a younger couple ( with a child ) with both sets of their parents there at time of inspection was a great first experience, lol. It all ended up working out perfectly and giving us plenty of extra time to do some rehab before moving in. 

Once again thank you for all of your insights! 

I'll try to keep this as short as possible. I just recently purchased a 4-plex (closed Dec 22) with an FHA loan. One of the purchase agreements was that the one of the current tenants needed to be given a notice of non-renewal on their lease and needed to vacate by Jan 31st so that I can fulfill my FHA requirements of occupying the property. Come January, said tenant did not have rent by the 3rd (their current grace period) in which I contacted him and informed that my leases give until the 5th and that he would have another 2 days before late charges would be applied. On the 5th the rent was still not there so I posted his 5-day notice to pay or vacate by eviction. I also sent him a message asking if we could talk about the situation. I was able to make contact the next day and was told he didn't have the rent due to he is unemployed (this I know) and needs his next check to cover the costs of the new place they are moving into. He also stated that he and his family are planning on being out by the 10th anyways. For all I know he could just be saying that though. But not knowing that, I told him that if he can be out by then and we are able to do the move out inspection by the 11th we would not move forward with the eviction and would just deduct his January rent and late fees from his security deposit. I followed up with him yesterday asking if today or tomorrow would be best for his move out inspection and have yet to hear anything back.

My main question here is since I know he is moving out by the 31st do I still move forward with filing the eviction or just wait until he is completely moved out and deduct his respective debts from his security deposit? I don't want to be a hard a** , but I still need to make sure I'm protecting my business as well. 

Any opinion or advice will be greatly appreciated! Thanks. 

Hello, everyone. Are meet-ups still scheduled for the third Thursday of the month ( Jan 18th) ? If so, you can count me in. 

@Nathan Gesner @Andrew Postell Thank you both for your your insight! It was much appreciated and actually allowed me to look deeper into things and work with the current management company to revoke a renewal of a termed lease along with giving notice to vacate to said tenants. Everything worked out smooth and I'll be able to occupy the unit within my 60 day period. I close on it tomorrow and couldn't be more excited (maybe slightly anxious, but getting bigger problems is the fun of it). Once again thanks for the wisdom!  

I'm currently under contract to purchase my first rental property (4 plex) with a FHA loan. Obviously this means I will be needing to reside in the building. My concern is whether or not I have the ability to "help" a tenant find a new home once I take ownership to allow me to fulfill my loan requirements of a using it as a personal residence. I've found a lot out there that states all leases need to be honored when the property transfers hand unless there is a clause in the contract stating otherwise. Listed here is the wording of the tenants current leases:

23. LEASE IS SUBJECT TO MORTGAGE: the home building may be mortgaged or may be subject to a contract or deed. RESIDENT agrees that the rights of the holder of any present or future mortgage or contract for deed are superior to any RESIDENT'S rights. For example, if a mortgage on the home is foreclosed, the person who forecloses on the home may, at their option, terminate the RESIDENT'S lease. 

Does this cover even if the property is sold and changes hands? 

Looking for any kind of guidance here so any insight is helpful!