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All Forum Posts by: Michael Craig

Michael Craig has started 39 posts and replied 235 times.

Post: Screening New Tenants During the Outbreak

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

When verifying potential tenants employment, is it acceptable to ask the employer whether or not the potential tenants pay check is at risk due to the outbreak? 

Post: Tenants Car Broken Into, Belongings Stolen

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

I just received a text from a tenant stating their car was broken into last night. They have not called the police because they said they didn't have the time this morning to do so and they don't think it's worth it as only a backpack was stolen.

How to proceed?  Is it worth mentioning to other tenants that this event occurred? Should I call the police when I get home from work? 

Post: Month Early Lease Signing- Security Deposit/Binder

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

@Aaron Turner

Once the lease is executed, the tenants are responsible for the full term and must make every payment - even if they decide not to live on premise. This is a legal and binding document.

Post: Shared master bath a problem?

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

@Rachel Brodie

Terrible idea. What if one tenant has to use the bathroom while the other is sleeping?

Post: Purchasing a property with a rent free tenant

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

Sami, I'd wait until after closing because I don't think a lease is valid if you're not the property owner. What if the tenant makes the argument that he and the previous owner made an agreement after signing yours?

Post: Purchasing a property with a rent free tenant

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

@Sami Gren

Hi Sami, what to do depends on the situation. Are you looking to renovate the unit he is living in once you purchase the property? If so, the easiest way would be to have him vacate before closing.

If you decide you'd like him stay, have a conversation about what he's looking for and what his plans are. Explain to him you're the new owner, run through the new lease (make sure you have one made up) and discuss rent payment and due date. Give him a deadline to agree to the lease and go from there. 

Post: Travel Nurse Housing

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

Hello,

I just finished renovating my primary residence and I would like to find a roommate for the next year or so (maybe less). What shorter term options do you recommend for finding a young professional roommate? Does anyone have experience with travelnursehousing.com/?  

Post: Thoughts on new locks for every turnover

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

@Theresa Harris

Just as easy for them to change out the knob. Maybe we shouldn't provide locks to begin with... 

Post: Smart locks for long term rentals?

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

@Frank Rizzo

The only smart locks I have experience with are battery operated that do not require wifi. To unlock, all you have to do is enter the code. If you have a change in tenant or just want to change the code, it is easy to do. I wouldn't rely on wifi, especially on a rental unit.

Post: Thoughts on new locks for every turnover

Michael CraigPosted
  • Rental Property Investor
  • Saratoga Springs, NY
  • Posts 238
  • Votes 200

@Michael Nahm

Kwikset has what are called "smartkeys". You can rekey the dead bolts and door knobs with a different key. This allows you to keep the same dead bolt and door knob and just change the key.

https://www.build.com/kwikset-400t-s/s192982?uid=2678466&source=gg-gba-pla_2678466!c1045498776!a54026150289!dc!ng&gclid=CjwKCAiA4Y7yBRB8EiwADV1haUqoHLYBUQh9x39HP8Q4Kmr0xMFH7qI0xvDQPk3tUCzao6NVfaBiQxoCj9QQAvD_BwE&gclsrc=aw.ds