All Forum Posts by: Peter Spera

Good point. As of now there has not been any request for hardship. The eviction moratoriums have expired but any renter below the AMI of 120% are still protected. In this area that would be about $120k total household. 

Theresa,  I like option #2 and will consider it. In NJ, closing in < 45 days would be a miracle. LOL.  I don't want to go down the path of #1 so not to completely miss out on the hot market.  Already cooling off. I already gave them > 2 months notice.

Thanks for the replies.

@Nathan, exactly my thoughts. Also considering to have realtor continue with listing and get sign on lawn. Probably will be hard to show the house by appointment however tenant hasn't rejected that yet. Also shows I am still in control.

Hello BiggerPockets,

Would love to get your input on how to deal with the following situation.

Decided to sell our rental property, a single family home. The current tenants of 33 months and whose lease expires on 9/27/21 have always been great tenants in paying the rent on time. However the tenants have been giving excuses to delay the sales process ( Ill possibly COVID, Elder Parent issues, aggressive dog to strangers, etc.). I am sympathetic and let things settle for 2 weeks. Made a little progress by having realtor meet with tenant to discuss next steps however things have deteriorated. Tenant will not allow pictures nor open-house for fear of their "stuff" going missing. And now have not paid August rent on time. Realtor has not yet listed house due to inadequate pictures. It seems that my hands are tied. Even threatening eviction due to failure to abide by lease is no help since the lease expires prior to any potential court proceeding. Not to mention the NJ State moratoriums in place due to COVID. 

My fear is that they will delay until they move out! 

Any feedback is welcome.

First year of managing a family owned commercial building. Received a Statement of Income from the municipality. There is a section regarding "Escalation Income". The lease includes a clause that allows us to annually increase the monthly rent by the amount of annual increase of property taxes. This seems to fit the definition of Escalation Income.  So is the value here the amount of increase for the year or the monthly amount collected on the aggregate of all years. Example: Tenant already pays $300 a month for previous years. This year lets say the property tax increase $1200. So this means an additional $100 is due per month. So is the Escalation income ($300+$100)*12=4800 or $1200?