All Forum Posts by: Raymond Sharkey

What are the pros and cons of pulling a permit for a home remodel? I’m doing carpentry work on a house that an investor is converting into a duplex and I wanted to pull a permit for the egress window that I’m installing into the foundation. But investor is adamant on not pulling the permit

@Jingru Sui instead of a master lease I basically created my own rental lease that includes written consent to sublease, home modifications, and a few things that were relevant to my objective. Master lease is long and redundant and a little overboard for me. I am currently grossing double the amount it cost me to rent the house. My market analysis made sure it made sense for short term and long term through arbitrage. Instead of it costing me money while I furnish it for short term, the long term renters pay monthly for rooms and there is no “holding” cost for me.

@Alexander Felice this is just complaining to me too

@Paul Sandhu. You’re right. I’ve only received the landlords version of the lease agreement and haven’t contacted him yet on any approach to modify it. It might be nice to sit down and do it together to some degree and sign it. So far all he did to modify it was line out the clause that denied permission to sublet. Ultimately it will come down to an agreement between us but I wanted something to bring to the table before we have that discussion. Maybe if I have something good prepared and he likes it then all we have to do is sign :/

@Raymond Sharkey i should add this is my first real estate experience. So it’s the first time I’ve even had to think about altering a lease agreement. This isn’t my first step, but this is the first big step in this whole deal for me

@Paul Sandhu thanx for the info Paul. So far what I’m seeing with master leases is a very long detailed form. That’s great legally speaking, but for now I’m looking for a solution that is a little more simple. Is adding an addendum with permission to sublease something that you know about?

@John Underwood thanx for the info John. Master lease looks like something I might want to use in the future. I think right now it’s gonna be hard for me to pitch something like that, I feel it’s a little daunting. I really just want to make sure the contract gives me permission to sublease the property and give me control over it

@Brendan Fox i ask them if they know anything about short term rentals and if they’re interested in information on it. Then I help them figure out the best way to move forward.

@John Underwood have you used this specifically for rental arbitrage?

Any advice for getting sublease permission for short and long term in Missouri? I intend to rent a house and make it an Airbnb. Already done the market analysis and checked to see if it’s possible through the zoning, and asked the landlord