All Forum Posts by: Anna M.

Thank you @Kim Meredith Hampton and @James Thomas Nakashian.I feel the same way, in that, if I wait, this could potentially turn into a pricey lawsuit, that a few splashes of bleach unfortunately will not fix.Waiting on call back from buyer’s agent to put together our action plan.Thank you both for this advice.

Tenant has mentioned it twice now, “after initial inspection [no mold test was done then]” – suspicion of mold.I do not doubt it, because I have seen a few cracks and need for regrading.We do not close on home until January 2018.If we (buyer) do a mold test and find something, then we are liable to address, but at least at this point we may be able to negotiate seller contribution to resolve.If we wait until after closing, it becomes our problem entirely.“WHAT WOULD YOU DO?”

@Fernan Nava,Very good advice, “Know your market”.So, I am giving myself between now and spring to really evaluate the rent raises.One thing that is driving me to consider the raises, is that I am contemplating taking on exterior porch maintenance, something tenants were tasked with in existing lease but I have had to remind them repeatedly on, with little luck.I have come to find that it is easier to fight monetary vs. compliance issues in evictions court.I therefore want to put a monetary value to items/policies that don't currently have a monetary value.In existing lease tenants are required to keep their immediate exterior areas clean, but somehow either they are just lazy or just flat out stubborn and while yes I could issue a 3-day notice to quit, I choose not to.Instead, I plan to take on that responsibility and simply charge them for it, so I am not wasting my time reminding them of it during next lease term.Less is more in my opinion and I prefer an approach where I have more chance of success in evictions court.Up the price and take care of the exterior 3 times during the lease term and I don’t have to worry about it while at the same time I get to maintain curb appeal and keep pests away which is my biggest concern.

@ Adam D. I totally agree with you on getting someone in there that wants to be there.I have in the past had a tenant that was all nice at the beginning then just turned into a monster later.I like the idea of not being tied to tenant, but I also struggle with wanting some kind of stability and I find that yes while annoying, my one year lease as currently structured gives me a cushion should they choose to walk away.I currently do X2 monthly rent as security deposit and while yes they can break lease before due date, they are liable for 2.5 monthly rent and up to 4.5 monthly rent during winter.So this offers a buffer but on the flip side it leaves me stuck with a disgruntled, “i-hate-being-here” tenant. But hey!Such is life.Someday maybe I will do short term leases but for now, I do 12 month and even considering longer term for those I have vetted for the first year.

Buying a property currently where going through the same thing.Fortunately for me, leases end 12/31/17.We close 1/2/18.Willing to keep one tenant, but the other has got to go.She was really a pain to deal with at inspection, would not let us in, despite having been notified of inspection by buyer multiple times.I had to put my foot down and request seller agent to provide access as I was not about to do a mediocre inspection because tenant would not let us in to complete inspection that I had paid for.In the end she let us in, 45 minutes later and tried to play nice but I was so fed up by then that the damage was done and I have no intention of taking on said tenant.With the tenant I am inheriting, I am however providing 30-day written notice both to vacate and of lease change based on change in ownership.As with you, the rents were way below market value and partly because previous owner somewhat neglected property.I intend to do some major overhaul to the property, and need to raise the rents slightly to account for the time and money that will be going into this.I also need inherited tenants to know about my lease terms as I will not be taking on anyone’s lease.If I am to inherit tenants, it will be on my terms.Tenants have the option to vacate or to agree to the provided lease terms which includes a slight increase in rents.My preference is for them to stay as they seem like good tenants, but at the end of the day, I cannot force them to stay.

Not sure at what point in the lease you are taking on these tenants and if you can use rent raises to try to see if leases can be broken.The other alternative is to inform them of plans for renovations and agree to pay them to vacate.Not preferred, but worth a try.Gives you all 4 units and you can then raise the rents as needed.That being said, see what your pockets can handle.I too hate inheriting tenants but I know that with this new property if I let both go, it will be tough for me especially at this time of the year.I would much rather let the troublesome one go and keep the others and then only have one vacancy than 2.Good luck.

Not to scare you, but I did share a post here of a tenant that literally hacked his landlord when she went to address something with him after she had already indicated eviction proceedings.The landlord ended up in ICU and I did not follow the story enough to know if she lived.The article indicated that even if she lived, she would be left with major brain damage.Once eviction papers are served or termination of tenancy communicated, I would be very careful about going around said tenant as emotions are high and worse where drugs/alcohol is involved.I would for the most part keep away and handle this per the advise of your attorney.Did an eviction once of inherited tenants that a year and a half later, continued to challenge my policies and damage the unit, and it was tough, but seems that eviction (at least once especially with inherited tenants) is just the rite of passage most landlords have to go through.Not saying you will, but as @Marcia Maynard says, please be safe.

@Jay Jones, oh boy, seems like you have a spoilt brat on your hands.I would start considering letting that one go.The stress is not worth it.At the end of the day, unattended to repairs, cost you as owner.If said tenant will not grant you access, then something needs to change.Is there not a provision one can add to their lease to get access to property to attend to “suspected emergencies?I am going to look into this, but thankfully I do not have such a case on my hands, else I would definitely not be a happy camper.

Long story short, start planning an exit strategy with said tenant as this does not look/sound good.

@Adam D., I like your strategy of raising $25 a month.  My leases are however 12 month.  I recently did a lot, and I mean a lot of work on the property.  Rents are booming in Denver Metro and recent appraisal revealed that I am way below market on my rents so I am considering going up to market value upon renewal, spring of 2018.  Once that is done, I really don't intend on raising rents every year, but again, that is to be determined.  Best way to ensure a locked in rate, if you are a tenant, sign a two or 3 year lease, just saying!

I’ll be glad to.Issue:Being Female.Being a black naturalized citizen, female at that.What is it with contractors and working with women?Do they not believe that female can play this game just as well as guys can?I get all kinds of ridiculous prices, that honestly some of those quotes have pushed me into DIY and in part, “I am grateful to them for that” because I have since learned a lot, but I do wish that at times, contractors would look past gender and even race before spitting out ridiculous prices.

Secondly:Lack of follow-up.Not sure if it is just Denver, or if others are experiencing the same problem.Met with a contractor for come work needed on a property that I am purchasing.Seller will finance some of the repairs.Need contractor to provide a written quote.Bad enough we are having some language issues as he speaks Spanish, I don’t so communication is via google translate (oh boy).He came highly recommended, so I am trying to hang in there, but only for so long.Still waiting on him to send me the written quote.Sent out a reminder this evening asking him to provide by tomorrow or at least let me know if I should move on to find someone else.I really cannot understand what is happening with contractors in the Denver Metro Area.Perhaps they just have way too much business that if your project appears too small, then they will relax on responses?The project is about $10K, in my opinion that is not small, but hey, what do I know.Really frustrating.@Patrick Jackson, if you can come up with a solution for both, boy will I be a fan for life! Following.

@ Bettina F. To be honest, I don’t even waste my time engaging them.Tenants will “try you!”You have to train them and shown them who the pack leader is.I make it a point to study the laws and then put everything in writing.Our communication is strictly in writing, much better as it also gives you a record you could use as needed in court.I hate confrontation.I can go there if needed, but I prefer not to because I do not want to say anything that will hurt my chances in a court of law.I also truly, believe it or not, want to be fair even to a tenant that may not deserve it.I agree with you on the challenges of inheriting tenants, that is why I truly, “hate, hate, hate it!”, yet I have no choice but to do just that on my next purchase closing Jan 2nd.We let go of one, and keeping the one that was open to our inspection visit, had the unit looking like we just walked into a catalog and appeared to have no issues making rent payments.The one we are letting go, gave us such a tough time at unit inspection despite being notified of this multiple times by seller’s team.I literally had to request my buyers agent to call seller agent back and ask that something be done to facilitate a thorough inspection, that “I was paying for”.About 45 minutes later, said tenant let us in and tried to play nice.By then sadly the damage had already been done and I truly have no interest in inheriting such a tenant.Long story short, yes I hate the “we have always done this, or we did this…..” Yet, one cannot entirely blame them.People become territorial and some will “push, or try to push” just to see what you are made of.The thing is to remain professional and try not to engage, else you will loose more than your patience.Good luck. J.