All Forum Posts by: Anna M.

60 to 45 days before lease ends, send them a courtesy letter indicating non-renewal.  You can google templates or find here on BP.  You do not have to give a reason, but if you feel compelled to do so, state, that you need to do repairs that will be easier done with a vacant unit, end of story.  Send them an emailed copy of the same all to include move-out instructions including how damages and security deposits will be handled.  Keep records of sending.  No need to have them sign it as some tenants do not care to sign off on stuff. 

Hold off on the close until after pending legal issues have been resolved to avoid it passing onto you, though I don't know how that would be, but bottom line it could get ugly.  About 2 years ago, I acquired a property where tenant was evicted.  They waited until last day because they were having difficulty.  Tenant ended up tearing up the unit which my real estate agent should have presented to owners, but for some strange reason she thought we were getting the property at a deal and it was not worth the trouble, silly now that I think back.  I was a 1st time owner at the time and did not know better.  I would not let that fly right now. 

Local Section 8 office will ultimately be the ones making the final call anyway so I suggest going straight to the person that matters in this case.

"What I'm wondering is what would you have the tenants sign before buying the property?"  How about a short-term lease?  5, or 6 months to go into immediate effect the day you acquire the property or they have 30 days to vacate.  A short-tem vs. long term gives you enough time to check them out and know whether they will be tenants you want to keep or not. 

Combination smoke and carbon monoxide alarm with voice alert.  Best < $50 investment you will ever have, every bedroom, hallway, living and kitchen but you might want to check with your local ordinance/county to see where it is recommended to place.  Have tenants test monthly and return testing logs to you as well as report any battery malfunctioning or at the very minimum, personally test them during your unit inspections (I do mine at start of lease, mid-lease and end of lease).  Battery replacement?  All landlord responsibility, as with fire extinguisher and water alarms.  In the end it is your investment so your responsibility to guard it.  It is also your responsibility to provide a safe living environment to your tenants.  The expense is worth it.

https://www.homedepot.com/b/Search/N-5yc1vZbmgj/Ntk-Extended/Ntt-carbon+monoxide+alarm?Ntx=mode+matchpartialmax&NCNI-5

Oh, wow yes I do agree that would definitely not be fair.  I assumed you meant same unit occupancy but where one may use more, just because they have a tendency to, but yes I totally agree, if there are more occupants, that would equate to slightly more usage and should be charged as such.

It does however get tricky when the water usage is "also" related to yard/lawn maintenance, that is why I simply stick to a per unit and then that includes water used during summer time for sprinkler system operation.  For my case however, only 1 unit has an extra occupant (minor) all others have just 1 occupant so it is easy to keep to a simply 33.3%.  Check out also RUBS.

 Thank you @Jennifer A.  I realize that I may not be factoring this into my rents for a 2bed/1bath in the same area.  On the surface it looks like am right at market value, but a lot of the rentals around do not have the added value of a one-car garage with ample storage.  I am considering rent raises and just wanted to know if this was something worth correcting on my next lease.  Would you happen to know roughly how much more yours is going for, when compared to similar units without garage?

Rental Units in Urban areas with Garages:

Do you charge for the garage or factor it into the rents?If so how much?I realize that this will vary with area, but am curious to know what if anything people are charging for a one-car garage, attached (or detached) with additional storage space/shelves, whether the total cost if charging separate or roughly how much over regular rents, one should value this amenity.