All Forum Posts by: Arnie Guida

Sorry, a simple forum search provided lots of info.

1. Worthwhile for a 4 family?

2. How much notice must be given to tenants? They currently each have their own washer and dryer.

3. How is hot water supplied? Each unit has it's own water heater, must I get another water heater that I fund, or does it come from one tenant and you give them a break on the rent, or...?

Thank you,

Arnie

I know I should know this, but I don't.

My tenant's boyfriend and niece moved in without my knowledge. Nothing new to many of you, but new to me. The boyfriend's been there 2 months, the niece one.

I told them I want the standard info, SS#'s, photo ID and I'll be doing a background check...but maybe I should be doing more?

Can I, should I, start a new lease? If so, can I bump the rent? Should it expire on the same date as the previous lease?. I can decline them as tenants, right?

I apologize for what is probably old hat to many of you, but it's a first for me.

Thank you.

Arnie

Please excuse the dumb question, but who gets what? Which one do you keep?

Phone call:

Me: Do you have a job?

Applicant: No, but I could get one.

By the by, I'm going to collect tonight, the 7th, from a 4 month long tenant. This is her first late. She asked if there is a late fee. She knows there is. I am going to extend the same courtesy to her that I do to all my tenants. I'll let the first one go, after that, no more. I will make that very clear. She let me know in advance she was going to be late, and why.

It's one thing if they let you know well in advance they will be late, and how late.

It's another if they're evasive.

I wanted SO much to not fine them, but this isn't the first time they were late, and they are a 3 month new tenant. Plus, the guy has had an attitude with me several times, very sarcastic.

I gave them a pass the first time.
No more.

A tenant was $100 short on the rent and paid me yesterday, the 6th, with the $25 late fee.

I'm thinking, one day, you couldn't borrow $100 for one day from someone to avoid paying an extra $25?

Let's see, $25 interest for one day on $100...isn't that 9,125% interest annualized? Wait, that can't be right...

Kyle J. Thank you for that link, very useful.