All Forum Posts by: Mike H.

In the past I would send a written notice to tenant as the lease reaches the final 60th day mark, I would give inform them about lease expiry date and inquire their interest about possible renewal.  I would state the rental value in today's rate (typically higher) and offer a discount to them (same rate, or less increment amount) if the lease is renewed within 7 -14 days.  (after the given date, the rent will be market rate) 

Hope this helps

Joe,

that is the plan, just want to make sure I am allow to do that if their reason of leaving is not legit.  

Shawn,

The agreement states the 3 conditions the tenants can break the lease, which are family abuse, sex abuse and military order.  I did not think the break-in fits any of the situations and wanted to make sure.  Thanks for the insight!

Dear BP community,

I have a question regards tenants breach contract case in the DFW (Texas) area and seeking for your advice/knowledge sharing.  I have received a letter from tenants state that they are terminating the lease due to safety concern.  Apparently there was a break-in incident happened in February 2014 that made them worry about the neighborhood and decide to move out before the end of lease.  My question is: can safety concern becomes a legal reason to breach the contract?

Thanks

Mike

Shawn, I am also looking for those lender contacts as well, if you wouldn't mind sharing them. thank you!

I own multiple rental properties and now interested to aquire another piece. Bank just told me that I might require to pay up to 30% of downpayment because I own multiple properties. How does everyone do their finance in this situation? I am going through typical home mortgage loan right now, is it better to apply a business loan instead? thanks in advance for any input (this is in DFW area if that helps)