Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Keniya Lee

Keniya Lee has started 3 posts and replied 15 times.

Post: First Duplex- inherited tenant; Want new lease

Keniya LeePosted
  • Philadelphia, PA
  • Posts 16
  • Votes 1
Originally posted by @Jamie Engledow:

If they are month to month trnants, senf them your letter ASAP.  Include were to send payments and your updated month to month lease rules and requirements.  If you desire more long term 1 or 2 year lease include verbage for any incentives to that.  Key is, notify in writing.

Jamie, 

what should the letter entail? is it like basic greeting and contact information? 

Post: First Duplex- inherited tenant; Want new lease

Keniya LeePosted
  • Philadelphia, PA
  • Posts 16
  • Votes 1

hey Micheal,

so your saying don't resurgence them? can leave the lease the way that it is for now? when u said adding the addendum. how do I do that?

Post: First Duplex- inherited tenant; Want new lease

Keniya LeePosted
  • Philadelphia, PA
  • Posts 16
  • Votes 1
Originally posted by @Account Closed:

You want to screen the current tenants after they're in? Might be the wrong signal to send now. Get to know them first to get a sense of how they will treat your property and pay their bills. Talk to them and write an addendum to the current lease with the new terms and maybe a 60 or 90 day notice. You are also their neighbor, make the relationship friendly and businesslike until you have a reason to be otherwise. Best of luck with your investment.

 hey Micheal,

so your saying don't resurgence them? can leave the lease the way that it is for now? when u said adding the addendum. how do I do that?

Post: First Duplex- inherited tenant; Want new lease

Keniya LeePosted
  • Philadelphia, PA
  • Posts 16
  • Votes 1
hey Michael, so your saying don't rescreen them? I should leave the lease the way that it is for now? when u said adding the addendum. how do I do that?

Post: First Duplex- inherited tenant; Want new lease

Keniya LeePosted
  • Philadelphia, PA
  • Posts 16
  • Votes 1

Hey Everyone,

I will be closing my deal Feb 28. I'll be occupied one unit (vacant)and there are 2 tenants in the other unit. They are currently on a month to month lease agreement from current landlord. In the lease agreement it's states:

 LEASE RENEWAL:

At the end of this Lease Agreement, Tenant shall have the option to renew the Lease for an additional term that is equal to the initial term of this lease (Term of Lease Agreement) pursuant to the terms and conditions contained herein.

If Tenant or Landlord does not wish to renew the Lease, written notice must be given to the other party at least 30 before the end of the term (Term of Lease Agreement) to terminate the Lease (including any exercised renewal or extension thereof).

My question is. because I want the tenants to sign my updated month to month lease with a few changes like: screening,required rental insurance and have will have to pay for garage access. How do i go about this? I know I have to provide the 30 day notice but what is the notice? lease change; terminate of lease;etc?

Also, a rented payment will be do on the first of March. should I be contacted leases to inform them where the payment can be send? How formal or informal does this have to be?

thanks in advance.