All Forum Posts by: Wesley W.

 If the landlord was aware of his past, yet rented to him anyway - any lawyer worth their salt would make a nexus between those two pieces of information and create a liability claim.

In addition to the extreme negative press you would get, it also takes time, money and energy to defend a lawsuit you will eventually win.

Market is oversaturated currently, many landlords are not making any money.  TV developers continue to build new construction, and many folks bought in the market to rent out before retiring in the last 18 months.  I had 5 months vacant in 2024.

I offer them with an additional fee and lease addendum.  I buy them used and they offer a very good return with the income stream.  It takes less than a year to break even on the cost.  I have been using some sets for 10 years.  Some units I aquire when I buy a building.  Sometimes I buy a set from a tenant whom is moving out and does not want the hassle of moving the set they purchased.  As others has shared, I am able to hook them up properly to avoid any issues with tenant installation.

If a unit dies, and I do not want to replace it, I just terminate the addendum and remove them.  This avoids putting me in the situation where I have to provide those amenities if they were included with the rental unit.  My biggest pain point is rounding up help to move them in and out, as I'm a solo self manager.

What Drew said.

Plus, insist on signed estoppel agreements before closing!

This will save you tons of "nightmares" as well.

I use tenantbackgroundsearch.com, although many of the vendors provide automated reports that are nearly identical.  I take the report with a grain of salt.  Most of my screening comes from gumshoing social media, web court searches and following up on references.

My understanding is that vehicles being stored can only be coverd by an auto insurance policy.  Best to get a direct answer from your insurance carrier, however.

 As well you should!

Is your market under GCE legislation?  I would be stunned if it were.

First of all, these laws are a complete misnomer.  

They are not "good cause evictions" - they are all about TERMINATIONS.  In other words, you MUST renew the lease of the tenant, except for the rare few instances outlined in the law.   Expect to shoulder the burden of copious proof - and even then it may not be granted.  So, if they are paying rent, they essentially get to stay.  But the liberal legislators like to camouflage this constitutional taking by appealing to the emotions of the public by using the term "eviction." 

Personally, I've seen tenants granted a continued occupancy/renewal of their lease for the following:

(1) threatening other tenants/neighbors with physical harm

(2) dealing drugs out of the apartment with children residing in the same building

(3) discharging a firearm on the premises

(4) refusing entry to the landlord/his agent for necessary repairs

And I am sure there are many other examples of bad behavior that the property owner is powerless to react to.

I absolutely collected first, last and security for my class-C rentals until NYS prohibited that practice back in 2019.

Many tenants cannot manage their money properly, so this mitigates the issue of not being paid last month's rent when they need to move and the new landlord is receiving those funds they have allocated for their housing during the last month of their stay.

This was also helpful to me to pre-screen who has their financial house in order and had saved for their moving costs as part of their planning.

If I still could, I most definitely would - without exception.