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: Madeline Mercer

Madeline Mercer has started 1 posts and replied 13 times.

Post: Open window in bathroom causes havoc

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

Yes getting a report from the plumber would be ideal; however, I believe your issue will be no one knew that an open window would cause the pipes to explode. had you given them a notification the first time when it happened then you could say "Hey I explained to you this would happen" or have it written in the lease agreement. Therefore, it would be seen as breaking  the agreement. However if they were not given notice the first time it happened, no one knew why it happened so therefore I don't think you have a win, but that's just my guess.

I'm only guessing but since this is a child I think you need to find a way to resolve that issue. As far as the other issues that you already resolved, maybe they needed to be repaired but for the most part you're upgrading your apartment and they are paying the rent; so why does it matter....  make sure the child is safe. No regrets!  Thank you.

If I had to guess I would guess there is nothing you can do until she actually stops paying because technically she has not abandoned the property if she's paying you. My  understanding of abandoning means to leave and go away. She never entered so she has not left. As long as you're getting paid you cannot dictate when she can or cannot enter, whether she lives there or not you're getting your money. She's getting whatever satisfaction she's getting out of it. You have to wait until her lease expires and then address it, if she wants to continue paying what are you gonna do an eviction on the basis of she's paying you money without actually occupying the property.  As far as her trashing the other places you should have done your due diligence.  I believe she is your tenant until she technically moves out (not literally) or the lease expires. I'm not sure  how that will turn out but good luck to you.

Post: No 30 day notice, do I need to return deposit back to tenant?

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

From the what I remember a tenant has to give you 30 days notice when their lease expires.  If they move out during the lease period you get to keep the deposit apply it towards the next two months rent (the legal limit). You can bill them for two month's of loss rent as you work diligently to replace them. You must notify them by certified mail of the shortage between their security deposit and the cost of cleaning, repairs and two months rent. And request payment within 10 days to avoid legal ramifications. 

Post: Midterm rental websites

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

Good day BPs

I'm looking for a mid-term rental mentor. Preferably in New Jersey but anywhere is better than nowhere? 

Post: Approve or Deny? Expenses > Income but meet Gross 3X of Rent

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

If you feel strongly about her potential as a good tenant, why not offer her lower rent and slowly increase it as her situation improves. I feet that would be much better than setting the both of you up for failure. Which would ruin you confidence in humanity and ruin her credit...... again. Furthermore, if your concern is the quality of the tenant pool why not forgo the credit score requirement instead of DTI. If your concerns are the tenant missing one payment per year, lower the rent to be equivalent to 11 months rent, you seem to be able to afford the cut in revenue to get a qualified tenant quickly and/or help a struggling human being . Good Luck.

Post: Tenants wants to add 3rd tenant to 1br unit

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

I agree with BillB. in addition to, you must include in your new lease a requirement for additional tenants. I give guest 7 days visits afterwards they are in violation of their rental agreement and subject to eviction proceedings. No subletting allowed. any agreed upon additional tenants are subject to 100$ additional rent each adult (for wear and tear and water) they will be require to complete a background check at their cost of ______$. make certain the additional tenant knows the rent so the current tenants are not subletting and gaining financially. 

I had a similar situation in Irvington Nj, a quadplex as well, with four below market tenants. the city's rent control rules: 472-1 Establishment of rents. (UNLESS OWNER OCCUPIED OR CAPITAL IMPROVEMENTS)

If the land lord supplies heat, rent increase shall not exceed 4% 

otherwise don't exceed 3%.

tenants 65 or older 2%

new tenants increase can not exceed 5% over the last tenant's registered rent

you must provide a new tenant the previous rent amount in writing.

you must apply to the city for each increase with 60 days notice, depending on the US department of housing and urban development for a unit of similar size.

fines will be levied on a daily basis if in violation. 

What would you do if you found your property is in a rent controlled city?

fortunately or not I lost that deal.

Post: Financing my purchase

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

@Chad Davis. I will get the report later this morning. What's the plan?

Post: Financing my purchase

Madeline MercerPosted
  • Rental Property Investor
  • Newark Nj
  • Posts 13
  • Votes 3

@Joseph Guzzardi Jr. The payments were sent from my bank's auto pay.