All Forum Posts by: Kathlyn Lewis

Hey all you knowledgeable people!

Hoping someone has some advice (or calming words of wisdom).  We served a 30 day notice of lease termination on May 20th via certified mail to some tenants we do not want to continue to have leasing our property.  They have not picked up the notice as of today, so we went and dropped it off at the property and...

Nothing.  They have not responded.  Which seems really weird, but...

We have a couple more days until the actual 30 days goes into effect (we want them out at the end of the month).  Do we need to do anything else?

Any advice is appreciated!

Cheers.

Hello all!

Was just listening to the latest podcast and @Brandon Turner mentioned that his RE biz was a woman owned business.  I've heard of the advantages of being woman owned for a variety of different types businesses, but was wondering if anyone had insight into the specific advantages for an RE biz (if there even are any).  Is anyone here certified woman owned?  If so, how has it helped?

Thanks as always!

Kathlyn

Thanks for the advice!  We gave 30 days written notice and extended the amount of time for them to respond.  I think we'll go ahead with the increased rate.

Thanks for the advice!!

I should have put the word Boise in the post too to make sure I get some local peeps who know Idaho law. :)

I assume we have 30 day notice to increase rent - the lease is up and I believe we can increase at that time, with 30 days.

Hello oh lovely and generous BP community!

Question that some searching didn't answer.

I'm in Idaho and about to lose tenants who aren't happy with a rent increase - this is fine, we aren't upset to have to get new tenants.  They had a one year lease which clearly states that they have to give 30 days written notice to not renew the lease.

So they are going to be at least 8 days overdue, and we are going to prorate their rent to cover to 30 days.  Here is the  question:

Can we prorate the rent using the new, higher rate that the apartment is going to be rented for?  Or do we have to stick with the rate they have been paying?

Thanks in advance for your help!

Kathlyn

Hi Suzette!

Glad you're here!  My husband and I are relatively new to real estate and very new to Boise (we moved about six months ago when I came to help open the new Trader Joe's downtown).  We love it here!  We have two rental properties here and a piece of land in Los Angeles (where we came from) that we're building on, hopefully early next year.

Would love to hear more from you about investing in Nampa - we've looked over there a little bit but so far haven't found anything.

Welcome to BP!

Cheers,

Kathlyn

Hey there y'all!

We are looking for a landscape designer who specializes in minimal water landscapes in the Boise, ID area.  We are tired of watering and paying to water lawn in a place that is at least 100 degrees for over a month of the year!

Just looking for designers, not someone who does maintenance.  We want to get our rentals to the point where we can maintain the yards ourselves.

Thanks in advance for any referrals!

Kathlyn

Hi Thom and Denise - welcome to Idaho (from afar)!

My husband and I just moved to Boise and I'd be happy to tell you more about our experience investing in RE here.  Jonna is also a great resource and help and has been here longer, so you can have the Idaho newbie and Idaho seasoned vet perspectives!

Cheers,

Kathlyn

Thanks! Our mortgage guy at the bank said that the grace window was large and didn't mention late fees, so I think we're ok. I was mostly concerned with our credit. Definitely don't want to mar one of the things we really have going for us! :)

Hello!

Thought some of our lending-savvy peeps here might have some insight on this.

I noticed on my mortgage statements that the mortgage is due on the 1st but isn't late until the 16th! That's a really big window. Does anyone know if waiting until the 15th to pay dings credit or is in anyway a disadvantage to the borrower?

We pay everything on-time and have excellent credit which I do not want to damage in any way, but if I have until the 15th to pay the mortgage free and clear, I'd definitely take advantage of that window!

Thanks for the guidance as always!

Kathlyn