All Forum Posts by: Samuel J Claeson

Man, this is a drag indeed.  I recall you mentioning some changes, @Tim Swierczek, I guess I didn't recognize how severe they could be. Hopefully there can be some easy ways around this.

Hi @Cameron Mitchell, 

I would agree with @Evan Kraljic about the your mortgage options. One of the best parts of owner occupying a multifamily home is the low down payment options: 

--3.5% FHA (only $4,725 down for a $135,000 asking price!) or 5% Conventional ($6,750 down)--

As some say, "Cash is King."  I'm now on my second house hack only because the down payment is so low! The cash-on-cash return is stellar, if you find the right deal that is.

I actually graduated from St. Cloud State, and am quite familiar with the area.  Potentially renting this out by the bedroom to college students could also be a good idea..??? I personally have not done this, but just a thought since it is a college town.

All in all, you're on the right track! 

Thanks for the advice!

Hey BP investors,

My tenants have purchased a home and I have found new renters to take over the unit. They were fantastic tenants and now I want to officially, and legally, amend their lease to end February 28, 2021 instead of the original lease end date of May 30,2021.  I'm having trouble finding a specific document online to make this adjustment. Anyone willing to share what they've done?  

Thanks in advance!

Sam

Thank you all for the great advice. I’ll be paying the bill, but will be communicating with my tenants on what is not acceptable to be put down their sink. 

Fellow Investors,

My rental unit has a floor drain that is slightly backed up. This floor drain is tied into my tenants kitchen sink (kitchen sink does not seem to be clogged according to my tenant). I had a drain company come out to look at it after I unsuccessfully tried unclogging it with my drain snake. The plumber told me that it is clogged with grease from my tenants kitchen sink drain and he recommends that we get it hydro flushed. 

My lease states the following:

"TENANT PAYS FOR DAMAGE. Tenant shall pay for all loss, cost, or damage (including plumbing trouble)
caused by the willful or irresponsible conduct of Tenant or by a person under Tenant’s direction or control."

My question is this,  because the tenants sink is not clogged, but the floor drain that is tied to their kitchen sink is, should it be my responsibility for the bill, my tenants responsibility, or should we split the bill? I believe we have good reason to believe that this grease is from my tenants as they have been renting from me for almost 2 years.

Any advice/insight would be greatly appreciated!

Sam

Thank you everyone for the advice! I think I am going to simply have the tenant sign a new lease.

Sam

Hello,

My current tenant has agreed to stay an additional 14-months (great tenant!) and I'm curious what the best route is to renew a lease?  My first thought is that it would be the easiest to amend the lease end-date...?  If that's the case, does any one have an amendment template that they'd like to share? If not, I'd love to hear what others do.  

FYI The current lease ends March 31, 2019 and it is the MINNESOTA STANDARD RESIDENTIAL LEASE.

Thanks in advance!

Sam

@Jessica Zolotorofe thank you for the advice.

@Katie Stewart Yes, it is my responsibility as the landlord to remove ice/snow.

@Mindy Jensen I actually called the city offices and and am awaiting an answer on what the code/ordinance is for ice/snow removal.  I guess I wouldn't be surprised if it was 24 hours.  

Providing the tenants with salt is great advice and I'll be sure to do that.  Do you provide sand as a substitute to salt?  And is it as effective as salt?  Also, I love the podcast!!!

@Patrick Soukup I think you speak a lot of truth in your post, and it's unfortunate that it can be such a "dark" component about owning rental properties. I appreciate your insight and will definitely keep this in the back of mind with snow removal, as well as many other aspects to property management. Do you recommend LLC's to limit liability?

Hello BP members,

I was not able to immediately salt the driveway this morning, and I received a quite threatening text from my tenant about the "icy" driveway ("...my brother in law is a lawyer!....").   I personally did not feel it was unsafe to walk on the driveway or sidewalk, but I immediately called my handyman to see if he could help salt the driveway because I was already at work (shout out to Proper Upkeep).  While texting my tenants back, I imagined a court judge was looking over my shoulder, and told them that "someone would be there to salt the driveway in 45 minutes and to wait to walk on the driveway until it is confirmed that the sidewalk and driveway are salted. If you must walk on the driveway or sidewalk be cautious."  

My question is this: how much time does a landlord have to remove snow/ice from a rental property?  Is it 24 hours? Is it immediately?

I know it would be best to ask a lawyer, but I'm curious about other landlords/property managers that provide snow/ice removal. 

Thanks in advance!

Sam