All Forum Posts by: Robin W.

@Anthony Wick oh wow, I hadn't considered that. Is there any advice there? A valid and legal response? I imagine because they don't have an animal as of now, they aren't able to declare an EAA status. 

If you want to scrutinize my language, happy to oblige.

To review: the lease signed and executed says no pets. The mention of a possible pet before signing was verbal, no money exchanged to execute, no details about restrictions or what kind of animal, only that a separate agreement and deposit would be needed. 

In addition there was an email followup where they reconfirmed their desire for a dog: "We don't currently have any pets but were hoping to get a dog under 50lbs within the next two months. We plan on obedience training and are happy to address any concerns you have about dogs in advance of getting one." 

This email included many other questions about the apartment and neighborhood. 

I responded to them all, including: "Concerning the dog, I'm definitely willing considering that you seem to want a longer lease and want to make it a nice home, which I love. That being said, we'd need to sign a separate pet lease with a deposit of $200."

So today, 14 months later, as they are now ready to adopt, I'm allowing them to have a dog if it meets my insurance policy and landlord-recommended guidelines to protect quiet enjoyment, etc. If they truly want a dog that voids my insurance policy, and they can't wait until the end of their lease, then I'm offering them lease breaking options recommended by many landlords here at BiggerPockets.

I'm not quite sure how that aligns with your assessment of:

"I made up a bunch of new criteria if they wanted a dog or offered them to pay me lots of money to break the lease." No criteria was discussed in the initial mention, whether it be a verbal "could" or an emailed "consider." 

In my original post I asked: what kind of early termination options I can offer? Or if anyone has any general advice to include.

If your advice is consider a PM to handle rentals, I'll consider it. Thank you.

@Anthony Wick I said I'd consider the dog when they floated it before signing a 2 year lease in Spring 2018. 

When they followed up in an email they said they would get it within 2 months, plan on obedience training, and would be glad to address any concerns in advance of getting one. 

I responded that I was willing to consider it, given that they were signing a 2 year lease, and that when the time comes for their dog adoption we would need to sign a separate pet agreement with a deposit of $200.

They did not see any restrictions beyond that, because I myself was not aware of insurance restrictions, and hadn't evolved in my research to develop my own. 

No money was exchanged with the verbal agreement to consider a dog, or this email followup agreement. 

The only real contract executed was the actual lease which does not allow pets.

My change of heart lies in: 

1.) their reveal that they won't be staying

2.) so little time left in their lease anyway (they have 8 months left). 

3.) deeper thought about not knowing the breed, size, age, or being able to meet the dog.

4.) new revelations about insurance policies

5.) deeper thought about what this means for the other tenant of 2 years who may renew. 

I'm offering the option for a dog now with these new restrictions as a compromise, and to make good on my initial verbal agreement to consider the dog. I'm not sure what will happen next.  

Thank you, I did check with my insurance and the list was really extensive! 

After examining so many threads here on BiggerPockets, I presented them with a few choices: 

1.) A dog agreement that meets my criteria. I included the restrictions from my insurance, the requirements of spay/neuter, vaccinated and registered with the City of Chicago, older than 15 months, and that a vet certify the breed (as I learned here that some tenants lie and say Labrador, when the animal is actually a pitt mix, or another breed that violates home insurance.) I also borrowed some great language from this thread: https://www.biggerpockets.com/forums/52/topics/199681-dog-question 

Or the options to terminate the lease: 

2.) Tenant can pay lessor early termination fee equal to two months rent, to make lease end date effective immediately. Note: Security Deposit may not be used as termination fee. 

3.) Tenant can inform lessor of intent to move, at which point lessor will immediately mitigate and work with the tenant to re-rent the unit through advertising, arrangement of showings, and vetting of prospect tenants. The tenant is responsible for rent, utilities, and obligations until the unit is re-rented at the lessor's rate with a new tenant to the lessor's standards.

I'm hoping to hear back on their decision soon. I figure one of these decisions will be doable for me. As the pet agreement is quite extensive, I really threw every possible scenario in there to protect myself and make sure I wasn't open to surprises, I do expect them to take the termination fees. But we'll see. 

My bigger fear is that they'll reject all three and I'll have to pursue their violation of lease. 

What is an example of the clause about excessive noise? i.e continuous barking?  Like, what could be a penalty? Or what can protect me and my other tenants in case one unit's mid-lease tenants do not tend to their misbehaving animal? 

I got myself into trouble by verbally agreeing to a tenant's question during a signing over a year ago:

These A+ tenants said, "We're interested in getting a dog at some point. If that's ok, we can sign a two year lease." My eyes widened at the idea of a break from reletting my little family duplex. I verbally said that when they were ready we could sign a separate pet agreement with a new deposit. Then I never heard about it again - until two weeks ago (14 months into their lease). 

In their email they "hope to adopt a breed under 50 lbs that will likely not reach full size before their lease ends." 

To me: that statement reveals that they do not intend to stay. I told them, with that in mind, I had little incentive to grant a dog to a tenant with only 8 months left, who won't renew. 

To them: I'm breaking my verbal agreement that made them sign for 2 years. And if I don't compromise, they would like to break the lease.

It's disappointing, and stressful for me to have to re-rent. They are honestly great tenants and I'd love to have them for 8 more months. But it's also worrisome to have an unspecified dog I never met near wood floors, new laminate, possibly barking, and disturbing my second tenant. 

I'm considering offering a compromise of this strict dog agreement that adheres to my insurance policy and personal concerns, but I'm wondering what kind of early termination options I can offer? Or if anyone has any general advice to include. 

I just want to do this correctly and not overlook anything.

I'm renting out a garage space behind my duplex rental property in Chicago, and I want to be sure I'm approaching this correctly. 

Currently, the other space is occupied by a tenant and it is wrapped into the lease. 

This spot, however, will be rented by a nearby neighbor whose apartment doesn't include parking. 

I want to protect myself from any damages if they accidentally bump the garage door, or the other tenant's vehicle, but I also am not sure if it's accurate to use my regular tenant's lease, or if it's appropriate to ask for a security deposit.

The spot is going for $200, and with my leases I normally ask for a security deposit equal to 1 months rent.

I've heard of a storage space lease, but I don't want this to be used as storage as I cannot provide additional security beyond a door lock, working lights, and closed garage door that the tenants are responsible for closing. 

Thankful for advice. 

I'm considering a sale of my duplex rental property, but I have two tenants who are asking for renewals of their year-long lease starting in Nov.

I'm wondering if having tenants on lease harms your real estate in the marketplace? 

Should I ask him them be month-to-month in anticipation of putting it up on the market soon? 

To update this thread, after 6 more months of emotional/financial stress, I'm now working towards dissolving the partnership with as much transparency and diplomacy as possible. 

Rather than start out new books with a CPA, I'm hoping to hire an accountant for a financial audit going as far back as possible, to confirm the unfortunate workflow (expenses paid from various personal accounts, unreliable reimbursements from building accounts, etc). 

I really hope clear the air and wipe out any ambiguities so that we may come to a fair solution for a buyout. 

If any property owners have ever conducted such an audit, I'd love to hear about your experiences. 

If any of the accountants tagged previously are capable of conducting something like this, I'd love to hear about costs and logistics. 

@Brandon Hall @Steven Hamilton II

Crossposted here- https://www.biggerpockets.com/forums/519/topics/39...

Just an update on this thread, I ended up purchasing vinyl window locks for each opening and installing a motion light. So happy the solution was simple. My tenant is a happy duck. 

Thanks so much for the advice! 

 https://www.amazon.com/dp/B005H3N43K/ref=cm_sw_r_t...