All Forum Posts by: Richard Fish

@Michael Noto thank you for the help! With this situation, is there any specific document that you would use to make sure both parties sign off on? Or just document the communication as much as possible

@Michael Noto I purchased the duplex after the lease was already in place so I inherited the tenant. After reviewing the lease further there is a Termination Clause that states...

“Tenant may, upon 45 days written notice to Landlord, terminate this lease provided that tenant pays a termination charge equal to 3 months rent. Termination charge shall be in addition to all rent due up to termination day.”

So with this, I would still receive November’s rent (they are moving out end of Nov.) plus 3 additional months worth? And security deposit would just be dependent on final walk thru?

@John Warren I completely agree and my goal is to rent the unit as soon as possible. I don’t want to keep any additional money if not needed but also want to make sure I have the funds to make up for any vacant months before finding a new tenant

I just recently purchased a duplex that and I am moving in to the 1st floor and the 2nd floor unit was rented. The tenant had signed a 1 year lease until July 2021.

The tenant just called me last night and stated that he has to break the lease and will be moving out at the end of November. I do have his last months rent and security deposit but am I able to keep this? Does he owe me more than that?

Any advice would be greatly appreciated!

I would like to introduce myself, my names Rick. I am a college student in Pittsburgh, Pennsylvania and am VERY interested in buying my first property. I have so many questions and would like to have more knowledge on the RE game before I make this investment. How do you get started? Which kind of property should you first buy? How to finance it? How to have the cash flow for emergencies on the property? ... These are just some of the questions I have and would really like to talk more with someone who has experience and can help me. My goals are to become a real estate investor and make a career out of this. I would like to start building my portfolio for long term income and get into larger apartment complexes and commercial property. Any comments would be appreciated!