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All Forum Posts by: Mathew Deines

Mathew Deines has started 12 posts and replied 90 times.

Post: Howdy San Antonio!

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32

Welcome Kevin!

Post: New in Houston, TX

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32

Welcome Chris!

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32
Originally posted by @Bruce May:

@Mathew Deines www.firsttuesday.com has forms for almost all your real estate needs. I bought the packet for my use. a few years ago but heard they are now free.

 I am not sure that is the correct link but thank you for mentioning it.

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32
Originally posted by @Anthony D'Angelo:

Yes, based off of the that. It looks like 30 days. I gave our tenants 60 days because I went off of

http://www.dca.ca.gov/publications/legal_guides/lt-2.shtml

Yes also for the 60 day notice to remove a tenant.

Anthony

 Thanks!

I have a lot to learn....

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32

I apologize for using the word eviction, when I should have said "not renewing their month-to-month lease". Lesson learned

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32
Originally posted by @Anthony D'Angelo:

Here is the rules for increasing rents in California.

How much advance notice must the landlord give the tenant?

If you have a month-to-month (or shorter) periodic rental agreement, the landlord must give you at least 30 days' advance written notice of a rent increase.

  • The landlord must give you at least 30 days' advance notice if the rent increase is 10 percent (or less) of the rent charged at any time during the 12 months before the rent increase takes effect.
  • The landlord must give you at least 60 days' advance notice if the rent increase is greater than 10 percent of the rent charged at any time during the 12 months before the rent increase takes effect.

So if I am understanding this correctly:

Current rent = $1700 + 10% = 1870 will only require a 30 day written notice?

But still 60 days to remove a tenant on a month-to-month agreement

Post: Uninvited non-tenant surprise

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32

Good Luck! I wish I had some advice to offer here but I am curious what others will say.

@Taylor West

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32
Originally posted by @Mindy Jensen:
Before you sign them up for long-term leases, run a background check on them at your expense. Make sure you WANT them living there. Month to month leases are much easier to terminate if you discover an unsavory background.

 That is a great idea. Thanks!

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32

@David Avetisyan: No rent control and yes I do have the leases.

@Tim G: What is a better term than evict? I do see the negative connotation there. Perhaps replace with myself?

@Anthony D'Angelo: Thanks for the heads up about the 60 day notice to evict. I thought is was only 30 days.

Post: About to close on our first 4-plex... Now what?

Mathew DeinesPosted
  • Investor
  • San Diego, CA
  • Posts 116
  • Votes 32

We are about to close on our first 100% 4-plex in San Diego, CA. We are inheriting all tenants and leases. 3 tenants are month to month and the 4th just signed a 6 month lease with current owner. We need to evict one tenant so that we can occupy that unit. 

Now what?

We want to raise the rents to market, $100 increase, and have the remaining 2 month to month tenants sign 1 year leases.

Do we go straight to a Real Estate attorney to draw up new leases, eviction forms as well as new ownership notifications? We/I are going to self manage, otherwise I would imagine I could just go to a property management company and they would have all the forms that I need.

Thank you for any input that you have to offer!