All Forum Posts by: Matthew R.
Matthew R. has started 3 posts and replied 5 times.
Post: Number of bathrooms in shared living space? MN
- Alexandria, MN
- Posts 5
- Votes 0
One of our properties is a shared living space, currently there are only 4 tenants living in a very large space. Right now we have two 1/2 bathrooms and three 3/4 bathrooms for them to use. We are looking to get some renovations done and maybe cut down on the water bill a bit. Would it be legal to have just one 3/4 bathroom and two 1/2 bathrooms? Thanks!
Post: Security Deposit Return Question
- Alexandria, MN
- Posts 5
- Votes 0
Ok, that all makes sense to me. The one's on the lease get the deposit back, and it is up to them how to figure it out. Not my problem after that. Thanks!
Post: Security Deposit Return Question
- Alexandria, MN
- Posts 5
- Votes 0
Sort of an interesting problem, for me at least. Hopefully it is a really easy answer and I am just overthinking it.
Rented out a unit to 3 people, A, B, and C. They all signed the lease with a $700 security deposit required, which they gave me. After a few months, C wanted to leave the unit. C found someone to take over their room, D. C was taken off the lease and D was added on. Since the lease for the group was not over I did not return any of the security deposit. During that time I received texts from C saying that D never paid them their portion of the security deposit. A few months after that D decided they were going to leave, they made their intention clear with me, but did not tell their roommates I find out later. She leaves and then asks to be taken off the lease, which I refuse to do because they did not find someone to take over their portion. A and B are fine with paying the total rent for the last few months of the lease. Now there lease is almost over, I suspect there are going to be some damages but probably not the full deposit amount. Who and how do I return the security deposit to? Just one check and I give it to A and B, or do I need to split the deposit three ways and send to A, B and D?
Thanks in advance.
Post: Bought multi-unit with unknown section 8 tenant
- Alexandria, MN
- Posts 5
- Votes 0
Originally posted by @Tim Swierczek:
@Matthew R. No question you are 100% stuck with this lease until it expires. You have no recourse with the tenants. Technically you could have recourse with the previous owner, but only if you asked for the leases and they omitted the Section 8 portion of the lease. If you did not ask or they provided it and you missed it then you have no recourse. At this point, I don't know how much you should care. They are there and you cannot evict them without cause. It sounds on the surface that you should suck it up and finish the lease with them and follow all the laws to end the lease when it terms out. I do not work with Section 8 myself so I don't know if you have any extra requirements to end the lease but I would make sure to find out if I were you.
Good Luck
~Tim
Thanks for the reply Tim! And yeah, that is what we figured. Unfortunately, we did not ask. This is only our third property, so just another thing we can add to the list of things to find out before buying. Lesson learned. Thanks again!
Post: Bought multi-unit with unknown section 8 tenant
- Alexandria, MN
- Posts 5
- Votes 0
Recently bought a multi-unit rental in Minnesota, the price was right and it seemed mismanaged, so there was an opportunity for growth. Then yesterday in the mail I received a letter from the local housing authority, asking for my bank information and W-9, so they can pay me a section 8 voucher.
My question is, is there anything I can do about this? My primary partner and I have criteria that limits section 8 on our other properties and we do not wish to deal with it. Are we stuck with the leases we acquired and have to wait until the end of them?
Thanks