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All Forum Posts by: Nathan Henderson

Nathan Henderson has started 2 posts and replied 4 times.

Post: New Lease Contracts @closing????

Nathan HendersonPosted
  • Investor
  • Paducah, KY
  • Posts 4
  • Votes 0
Sue K. Again, excellent advice and I truly appreciate it. Iwill definitely keep it in mind about M2M for summer students.

Post: New Lease Contracts @closing????

Nathan HendersonPosted
  • Investor
  • Paducah, KY
  • Posts 4
  • Votes 0
To everyone thank you for the responses and the insights, I truly appreciate it. I have a very good understanding of my state revised statutes, where to find them, how to interpret them and apply them. I was merely trying to have an outside the box response of my situation. Sue K. Awesome feedback, I appreciate it. It is a college town and currently the rent numbers I stated are below market so I got decent wiggle room to restructure how I want. The majority of rents are paid my mom and dad and I have tenant turnover and re-let in less than 48 hours with a quick clean and repair. So the demand is pretty good. Just wanted some veterans opinions!!

Post: New Lease Contracts @closing????

Nathan HendersonPosted
  • Investor
  • Paducah, KY
  • Posts 4
  • Votes 0

I currently own a handful of rental properties with great tenants and the purchase/closing of them were uneventful. I am in the final stages of closing on a quad that is currently full. The previous landlord structured the rent/utilities in the lease so the tenant pays $750 a month for rent, water, electric and sewer/trash. I have decided I am not going to pay for utilities, I don't at any other properties and wont here either. The option I am going to give them is decreasing the rent to $650 with no utilities. My plan is to sit down and convey this politely and professionally to each. Inform them I value them as a tenant and don't wish that they leave, however there are going to be a few growing pains. So my question is, in the worst case scenario they don't sign a new lease and they wont leave, how can I file for eviction without a current lease? Or at that point is it criminal trespassing and can have them removed? How can they be removed if that's needed?

Post: New Lease Contracts @closing?????

Nathan HendersonPosted
  • Investor
  • Paducah, KY
  • Posts 4
  • Votes 0
I have 6 units currently and the purchasing and closing on those properties were relatively eventless, very smooth. However, I am in the final stages of closing on a quad that is 100%. Three tenants have an existing lease with the current owner @ $750 a month which covers rent, water, electric and trash/sewer. The fourth tenant doesn't have any lease contract due to a family favor/living there and paying $750 rent under the table because they know the owner. I am not going to pay for utilities!! So the option I am going to give them is to drop the rent to $650 but with no utilities. My intention is to sit down and professionally and politely inform them of all changes coming due to transfer and that I value them as a tenant but we are going to have to work through a few growing pains. So what are my legal recourses if they don't sign a new lease and won't move? Do you need a lease contract to serve eviction? Or would it be criminal trespassing at that point??