All Forum Posts by: Kenneth N.

Yesterday I confronted the tenant with my findings and calmly explained my concerns. I asked that he release me from the lease agreement and move out within 10 days in exchange for $1000. After some negotiation, we agreed to nullify the original lease and put another in place for only 2 months and no cash.  If he can keep from shooting anyone for 60 days - I'll consider it a win and another good landlording lesson.  Do anyone see any issues with this arrangement?

Thank you Matt.  The guy actually did shoot someone.  It was kind of big story that I was unfortunately unaware.  I'll definitely be modifying my lease agreements moving forward to include questions about pending cases and add the crime-free addendum you mentioned.  Although, I would think a decent background screening would pick up on pending cases.

I own a 4-plex in Texas and recently leased a unit to 19-year-old. He indicated that he had NOT been convicted of a felony on his application and the background screen came through clean.

It’s been less than a month and I just found out that he’s out of jail on a $30k felony bond for assault with a deadly weapon. Evidently, he skipped out on a recent court date and was reissued a higher bond with an ankle tracking device.

I am not comfortable with him continuing to live in the building and am concerned about the safety of the other tenants as well as myself. Technically he did not lie on his application and the screening is correct since he has not yet been convicted.

There have also been several noise complaints from the other tenants. One complained of loud sex in the early evening when she comes in from work with her young son. Others of late-night parting with his friends.

I’m looking for a way to get him out of the building. Any suggestions?

I'm in the Houston (The Woodlands) area and one of my rentals took on 2 feet of water during Harvey.  Although not required by my lender and not part of my escrow, I purchased flood insurance on my own.  I received an advance check from my flood insurance company for $30,000 made payable to me and my lender.  My lender is a small regional bank (Spirit of Texas Bank) and instead of endorsing the check and allowing me to deposit into my own account, has set up a reserve account for the funds.  Funds are only dispersed to me after I provide paid contractor receipts, canceled checks and allow for a bank inspection of the property.  

I understand the bank needs to protect their side of the investment, but this was not required supplemental policy that the lender had no idea I even had.  Does the bank have the right to control my claim money like this?