All Forum Posts by: Sreeni Guntupalli

Thank you, Kai.

Thank you, both. Are you suggesting the transfer to my son using quit claim deed?

Also, I do want to share that both these properties have mortgages on them; so I may not be able to do quit claim deed, right? Thanks.

Thank you, Jason. HOA language says that owners may only lease or offer for lease one unit at any time. By laws say that owner and any other owners with whom such owner is affiliated do not collectively lease or offer for lease more than one unit at a time.

Please share any guidance or thoughts. 

Hi, 

We bought two investment properties in one a planned neighborhood (main HOA), but under two different sub-HOAs. One in 2019 & another in 2020. It has been a great area with good tenants. And we suddenly received a notice from the main HOA that we have multiple properties which is a violation. We have been paying dues for both the HOAs from the beginning and requested amenities (managed by main HOA) access for the tenants in both the properties.

I understand that we made a mistake by not checking the covenants of the main HOA, but mainly went with the sub-HOA rules which don't mention anything around multiple properties for lease.

Property A's lease expires end of this month and I have a tenant lined up to start a new lease term from 2/1 and Property B's lease expires in April and the current tenant is a long term one and would like to renew for two years.

My preference to at least keep both of them through next January and potentially sell or transfer Property B to my son who is graduating in May and have a full time offer in hand. 

I am hoping that experts here can provide some guidance on ways to handle this.

Thank you in advance for any suggestions to work through this issue.

Thank you for the prompt response and guidance.

Thank you @Stan Sugarman. So, I don't need to actually renew with the new dates and have the tenant and I sign the new dated lease document for the actual renewal? I understand that I have a responsibility to find a qualified tenant as quickly as possible if my current tenant gives me a notice in the middle of the lease period.

Hi:

My tenant in Cumming, GA has been living in my townhome for the past two years. We renewed the lease last year for 12 months ending 3/31/2021. This lease has a provision that it is automatically renewed for 12 months if either party doesn't communicate intent with a 60-day notice. As I wanted to keep him as a tenant, I didn't initiate any conversation until 30 days before the renewal. He has been asking for a re-paint of the whole townhome which is only two years old (and he has been living there for this whole time) after I started the conversation. I told him that I wouldn't do it as it is so new. He hasn't been in communications for the last couple of weeks.

My question to the gurus is - is my current lease good as is without additional renewal signatures with a new start/end date if he continues to make the rent payments? Am I protected if there is an issue down the line during the next renewal period? Please share any thoughts or suggestions. Thank you in advance.

Thanks for checking, @Kevin Stringari. I ended up paying him back the balance of the security deposit as I didn't have time to go back and forth. The tenant, even though he offered to waive the rights in his letter, he kept referring to the lease terms which say that he owes the rent only until a new tenant moves in. So, I let it go as I was able to rent it out in time even at a lower monthly rate.

Thank you, Both! Yes, they did offer that formally in their letter and that was one reason with the other being that I didn't have much notice to market the property and I didn't want to leave it vacant, I rented it to another family at a lower rate than what I had been charging. This tenant who moved out after offering this lease breakage fee was very good and responsive while he was living in my rental property. More than anything, it is shocking to receive this new message about him talking to an attorney after the fact! I didn't expect that as I felt like we parted ways on fair terms.