All Forum Posts by: Steve Candor

I'm the landlord and I rent an apartment out. Someone left a security deposit and we signed that she owes the first months rent on move-in date. We agreed on the date and the address of the apartment.

Now two days after the open house and after I tell everyone else they can not have the apartment - tenant calls and says that I have to return her security deposit because her boyfriend got another place.

We are in New York City. The problem is that I am no longer in the city and specifically came to rent out the unit.

In our lease it does not say refundable or non-refundable. Only security deposit. She says since it didn't say refundable I am required to give it back. 

Anyone know what to do? 

Buying a multifamily and I had a contractor with me viewing the actual property. There's another offer that waived inspection and will close in 2 weeks. 

I can waive the inspection too but I want to verify all the leases and his bank statement showing that he's getting paid what he says he's getting paid. If the rents are NOT what he's getting - i.e. rents are not what he says or tenants aren't paying I want to be able to change my offer price or get out of the deal. 

Normal to offer this contingency?

@David Doyle 

Rough estimate - (low to high end maybe?). Have a 3 family. Kitchens are right on top of each other (all 3 floors.)

On the 3rd floor there is no kitchen at all (i would put it in the same place). I want to install a kitchen sink to make it a real kitchen (not sure if it helps but the bathroom is a few feet away). How much would it cost roughly to do this (I'm in Massachusetts). Would it cost a lot more if I decided to have the kitchen in a different part of the house say 15 feet away?

Bergdorf goodman - the highend store hired beagles to find bed bugs.

We hired exterminators that sprayed the area. They got them but it took them 2 tries. Tenants don't do it but if they put a cover over their bed (drape it so it doesn't touch the floors) the bed bugs can't get to them. Or if they tape off the area (super cheap) - you'll catch them walking on the tape and they get stuck (like mouse sticky traps but regular gorilla tape works). 

can you legally say you won't take them? 

I give you a lot of credit (balls) for doing this sight unseen and with unknown (?) players in the market there. 

Good luck. I find it difficult without actually knowing the areas well enough. Just because of the mix of good areas to war zones could be street to street sometimes. 

@Account Closed I manage a property in a high demand area. Not really low income tenants but less desirable (no credit/bad credit, doesn't meet income threshold, or tenant does not want to sign a year long lease).

For me personally, as of now, no real problems. The tenants are getting along well. 2 Guys and a couple. Low turnover. They are paying more collectively for the apartment so it compensates us for 3x times the work - 3 rent checks, 3 leases, etc. It rented very quickly as a rooming house and we got more money. 

I know in certain states there are VERY strict requirements on a rooming house. Be careful. In Massachusetts it's limited to 3 and under (technically not a rooming house) and if it's over three (legally a rooming house) it must adhere to many many standards and requires a license. 

Normal "tenant issues" could be exasperated because of the closer proximity with other tenants.  Instead of driveway issues (your car blocked mine) it would be more petty like he stole my food, they don't split toiletry costs equally, loud music, smoke, bathroom doesn't get cleaned, or someone pees on the seat, etc. (there are ways to lower these problems which I've seen many other rooming houses do - i.e. super cleans all bathrooms or stable tenant pays less but takes on chores). 

@Sharad M. awesome, catch on that.  

@Account Closed I don't want to give them my best. I want to be a cheap bastard.  Guess I'll just have to lose a couple to win some great ones. 

If I close on a property quickly and near the 1st of the month.

How will section 8 get me the rent check? Wouldn't it go to the previous owner? How long does it take to switch? 

@Tom Lane i'm going to use that one!