All Forum Posts by: Scot Sorenson

@Theresa Harris I don't know.  What if they become a problem?  Is there any info there that I would need for an eviction or to hold them accountable? Do I need SSN (not even sure thats something that Landlords collect)?  this will be my first time managing my property.  I'm not really sure what I need but all I have now is signatures on a lease is that all I need?

Hello,

Does anyone know what my rights are?  My PM and I have decided to part ways.  My current renters are staying in the house and have signed a new lease with me.  I have asked my PM for any stuff he collected.  Backgrounds, Financials move in paperwork.  He told me that background info stays with his third party and is confidential.  he apparently never did any move in paperwork.  he claims financials are sent out to them and me every year.  I was wanting like there financial background info like income and what not.  does he have to give me this info or can he just be a prick and say no?  He has refused to send me anything except he did send me there deposit with interest. Thanks in advance BP

@Karen Higgins What do you use for an MN lease?  I bought the BP lease but am very confused by some of the fields I have to fill out.  The BP one is definitely written by a lawyer so the wording really throws me off.  This is my first lease without a PM.  Thanks for any help.

Hello all looking for some help.  I bought the BP lease for Minnesota thinking they would have simplified everything.  Turns out its way more complicated to fill out then the current lease my PM is using. My PM is no longer around. I went to BP support and they just told me to go to the forums.  Can some one shed some light on how to fill this thing out? Or do you know of a good resource for a place for me to go to get my questions answered?

example 1: Premises ___ from twelve o'clock.  What do I put in that blank?

IMPORTANT: THIS LEASE IS A LEGAL DOCUMENT WHICH HAS IMPORTANT LEGAL CONSEQUENCES

2. Term. In consideration of the mutual covenants and agreements herein stated and subject to the terms and provisions of this Lease, Landlord leases the Premises to Tenant __?_ from twelve o’clock noon on September 1_, 2019_ (“Lease Beginning Date”) until 11:59 p.m. on _August_31, 2019_ (“Lease Ending Date”).

I feel like I would have to post every question I'm having like this.  So far not impressed with there lease or the support I've gotten.  This is my first lease with no PM.  Not liking this part.

IMPORTANT: THIS LEASE IS A LEGAL DOCUMENT WHICH HAS IMPORTANT LEGAL CONSEQUENCES

(E) Rent (including any Additional Rent) is due on the first (1st) day of each calendar month. Time of such payment is of the essence of this agreement. Any payments paid after the _?_fifth__?_ day of any calendar month shall be deemed late. Any late payments shall be charged an 8% ($__? 8% of rent?_______) late fee for the first day rent is late. All late fees shall be deemed Additional Rent payable by Tenant.

Also The lease only gives me spots for 2 tenants to sign.  I have 3.  Can I add one or do I have to have the 3rd one sign a whole different lease?

Any help would be great.  I'm getting ready to look elsewhere for a lease which sucks because I really like BP.

@Account Closed
 

@Alan Grobmeier Thanks.  I'll have to look into chase quickpay.  I never thought of the home warranties for a line of defense. 

Hi Everyone. I have decided to take over managing my SFH rental from my seemly very lazy property manager. I had told him to implement a 60 day notice last year which he did not. I asked him to call and let me know of issues considering his plumber was over every month gouging me on very simple repairs that the PM could of easily handled and was part of our original agreement. After requesting these 2 things my PM called me and told me my expectations were to high. This seemed pretty basic and easy. So we decided to part ways and I will take over now that I'm in the area again. Any advice? I am planning on going with Cozy to help. The only complaint I have really seen is they take a couple days to a week to pay. Not an issue for me. I'm use to being paid on the 15th of the month. I am currently looking into the BP leases anyone got any input on them? Should I look elsewhere? this rental is in Minnesota. The same renters I had are staying and seem to be pretty good. Thanks for any input. I feel like this will be a little stressful but a good step forward for me.

If you make an offer at 100K and the appraisal comes back at 75K the deal will fall through anyway because the bank won't give you the money.  So you can renegotiate then.  I would look for properties to add value to the Minneapolis market is hard right now not a lot of room to make the numbers work.

@Patricia Steiner Thanks for the response.  I had the same thought about the leaving out the SSN.  I will be making some changes to how we operate and communicate.  "if it doesn't work for me, you don't work for me." HAHA I like it. Thanks

@Bryan Richardson I do make the final decision based on what he tells me.  I have had to deny people so I feel like he's being honest about the backgrounds.  I just think its a bit strange he won't show me the info. He handles evictions but as we have not had to go down that path yet I'm not sure how that will work.  Thanks for the help.

Hello BP,

Should my PM be showing me background checks on perspective tenants?  I have 1 SF home that I rent out.  My PM told me with the first tenant that moved in he would be doing backgrounds but would NOT be sending me the info do to personal info on report such as SSN.  He does give me a verbal run down of there background.  Does this sound right?  I have told him my minimum requirements which he seems to follow but will try and convince me to stray from once and a while.  I do NOT listen.  Let me know your thoughts.  Thanks in advance for your input.