All Forum Posts by: Shefali R.

Thanks @Account Closed

@Yvette M. you are likely right.

But she positioned it as "had you told me directly, it would not have been a problem..".  This has been communicated to her verbally during the showing and is obviously in our listings. We do 1.5sd for all our properties. 

Only frustrating thing is the loss of time! Ugh. 

Thanks @Colleen F. - yes plan is to move on!  

Hi - this is more of me just venting than looking for a solution.

We had a nice lady apply for one of our 3 bed rental units, moving from brooklyn to NJ. Her application was fine, her current and prior landlord had only great things to say about her. Then yesterday we sent her the lease agreement with a request for checks for 1.5 months of security deposit and first month rent. She emailed us back saying she is basically blindsided by this last minute change in the terms and our request for security deposit and now will not sign lease. Apparently she was not informed of the security deposit requirement. 

Seriously? Our listings on Zillow, Trulia and Hotpads all indicate security deposit in the terms. Our lesson is to make sure that every discussion one mentions the security deposit again and again..

Phew! Back to listing the unit again:) 

@Michael Mullins thanks for the response. 

@Steve Wilcox - which part of Newark would you recommend for multi family investments. Thanks!

@Jonathan Grunfeld @Michael Mullins and others - please let me know if you found lenders who will do investment property HELOCs on condos. So far, I know of Wells Fargo and TD Bank, but I am not finding anyone who will do HELOC on coop units in NYC. Thanks!

@Maria Braun, I am not aware of any restrictions/ rent regulation in Montclair - I would suggest also asking your RE lawyer. 

All - I had meant to provide the final update to this saga - the tenants made the decision to remain in the unit and have paid their subsequent month rent on time!! They eventually decided to not take us up on the offer for them to move out if they wished:) 

@Marcia Maynard, @Travis Beehler, @Jim Shepard, @Carolina E., @Thomas S. - thank you all for v helpful comments and inputs!

Thanks all - current update: The tenants have informed us they think this is a 'bio hazard' and would like to accept our option of moving out. They have said they expect their full security deposit back, which we told them they would receive if they leave the unit in the same condition they moved in.

They have now thrown in " the unit was v dirty when we moved in" comment! This unit was sparkling, with brand new appliances and professionally cleaned when they moved in. Thankfully we have pictures and their signatures on documents to prove this.

Irrespective of this I am going to find out what exactly happened regarding the death of the previous owner so that I have all the facts.

will keep you all posted on how this ends!