All Forum Posts by: Account Closed

Yes, I've learned that they'll do anything as long as they can charge you for it. However, this situation is all set. The tenant has another lease lined up. She signed paperwork stating that she'll be out on the 3rd of September. 

As of the last census Philadelphia was 48% renters versus 52% homeowners.  That coupled with the fact that Philadelphia has seen a rise in population over the past 5 years, with the large majority of residents falling in the millennial generation.  Philadelphia hands down is a great rental market with low vacancy rates.  With that said, the question is what is your target location and what type of tenants do you want to attract. 

I agree that Philadelphia can be a block to block setting when it comes to the condition of the neighborhoods and where you want to live.  But when it comes to rent it is an neighborhood by neighborhood event in my opinion. 

As somewhat of a certification.  I was born and raised in Philadelphia and still live in the City.  I am have also been investing in MFHs since 1988. 

@Account Closed, thank you for the kind words.  I would never have guessed English is not your native language, you are very articulate.  I actually love idioms.  The normal saying I heard growing up is "You cannot get blood out of a turnip"  That was used to reference trying to collect money from someone who did not have any money.

It is always hard to separate bad things people do from thinking it is an attack on us.  We often think maybe if I was this kind of person or if I had done this the person would not have done this to me.  That is rarely true.  in my business I have come to understand that those who steal or destroy or harm others are doing it because they can, not because they do not like you.  Victims are simply victims of those who do bad or criminal acts, they rarely do anything to deserve what happens.  Sometimes people do bad things whether is because of necessity or just because they can does not change that they are doing the bad things, so do not take responsibility for those actions, learn to be more vigilant and go on.  Good luck on your investing.

Jerry

That always hurts when that happens.  You do have the right to get reimbursed for the costs of remediation, but there is the blood out of a turnip problem.  Sorry to hear that happened.  you cannot control what some people do, but don't let their actions control how you feel about life.  Shake it off and move forward.

That always hurts when that happens.  You do have the right to get reimbursed for the costs of remediation, but there is the blood out of a turnip problem.  Sorry to hear that happened.  you cannot control what some people do, but don't let their actions control how you feel about life.  Shake it off and move forward.

Give them a break. Anyone could be in the situation even your or I. RE is a people business. 

@Account Closed, I would go with what @Marcia Maynard said above.  I am in business to make money, but not off the backs of those suffering a catastrophic health event.  If that is not enough remember that courts sit in both equity and in law.  Despite your contract the court may give them a break.  in fact truth is I really admire Marcia's post above.  That is a class act.

I would tell them that I was sorry to hear about the husband's health situation.

I would let them know I didn't receive their Notice to Vacate (or the whatever the equivalent legal form is for your jurisdiction). Now that I am hearing about it for the first time and know their intention, I would give them the proper form for them to fill out. This form would put in writing, with their signature, their intent to vacate and the date of their intended last day of tenancy.

A health situation like this is not only heartbreaking, but is likely to result in both the husband and wife not thinking clearly and under substantial stress.

The tenant is informing you that they can't afford to rent the place any longer and/or need to move for health reasons. I would negotiate a move-out plan with them.

I would keep them accountable for August rent, but let them break the lease and move-out without penalty.

I would let them know that we serve the Notice to Pay Rent or Quit whenever rent is not received on time for the current month. No harm intended. In fact, if they don't have the money for August rent, then the Notice to Pay Rent or Quit might be beneficial to them, as they might be able to find an agency that will be able to help them cover the rent, and most such agencies require a copy of this before they can help.

I would also, provide them with a community resource list. As they will need many services and other support at a time like this.