All Forum Posts by: Richie Valadez

My tenant is planning to be out of the country for a month and has asked if a friend can stay during that period to house sit.   I don't have a problem with this if the guest completes a background check.   The length of the stay is greater than what is allowed in the lease.   Should I have the tenant and guest sign an addendum stating the guest will follow all rules and terms of lease and leave by a certain date?

Thanks for all the replies so far. Very insightful and helpful. To clarify one point, I do have written authorization from the applicants to release this information and provided this to the current landlord. I have also contacted the previous landlord and waiting to hear back. 

I will update the post with the results. 

Hi BP community. First post here. Quick intro, my wife and I have been researching and trying to buy properties for the past 15 months (more stories about that later on another post). Finally in October, we made 3 offers and they were all accepted. Now we are up to our eyes in all things RE (which is amazing) and soon to be landlords. We've managed a rental years back, but had no idea what we were doing. We feel more confident this time around but ran into something strange today. We sent over a request to one of our applicant's current landlord for a reference, payment history, etc. We included the authorization to release information and the landlord came back and said their policy was to only release this information once their tenant has submitted a notice to vacate. My applicant does not want to submit the notice until they are approved. I cannot approve until I get the feedback from their current landlord. Has anyone else dealt with this?

Hi BP community. First post here. Quick intro, my wife and I have been researching and trying to buy properties for the past 15 months (more stories about that later on another post). Finally in October, we made 3 offers and they were all accepted. Now we are up to our eyes in all things RE (which is amazing) and soon to be landlords. We've managed a rental years back, but had no idea what we were doing. We feel more confident this time around but ran into something strange today. We sent over a request to one of our applicant's current landlord for a reference, payment history, etc. We included the authorization to release information and the landlord came back and said their policy was to only release this information once their tenant has submitted a notice to vacate. My applicant does not want to submit the notice until they are approved. I cannot approve until I get the feedback from their current landlord. Has anyone else dealt with this?

I'm interested as well. I've used RBFCU for years, however they only offer up to 15 year terms on investment properties, which will kill my cashflow. Can anyone recommend a good community bank for credit union that does 30 year terms?