All Forum Posts by: Susan H.

 I believe he stated the tenant moved in October 1, 2017, not 2018.

 They might be related to the woman who toured my 3/2 home for non-smokers only who announced her father--who was outside smoking at the time--would be living with her and her kids. I pointed out the "no smoking" statement and she said "That's okay, he'll have to stay in the garage."

Thanks for your thoughtful responses. We'll go with the 90-day notice to increase rent, with renewal contingent on tenants signing our lease/addenda plus providing proof of renter's insurance. 

Appreciate the feedback!

I purchased a tenant-occupied SFH in December. The previous owner did provide a copy of their lease (3 generic pages) but no info/record of application or background/credit check screening report. Comments by prior owner have me doubting any screening was done. She confirmed tenants have paid on time. Both tenants and previous owner signed an Estoppel form prior to closing, so I knew the rent (below market) and lease termination date (7/31/18).

I intend to send them 90-day notice of intent to raise the rent by 2% which will bring the unit a bit closer to market rates, and to advise them that any renewal is dependent on them signing my own (much more detailed) lease.

My question: is it reasonable to require they complete an application and screening and meet my qualifying criteria prior to offering the new lease? There's no fee for my application, but there is a $30/per adult fee for the background/credit check.  I have no knowledge of their income, background, etc. and that makes me hesitate about offering a lease renewal.

Mt. Ida is in Montgomery County; it's about 40 miles west of Hot Springs AR and about 40 miles east of Mena AR. That general area has quartz crystal deposits. If your friend owns the mineral rights that property might actually be more valuable than "just" undeveloped land. I'd suggest your friend check realtor.com, type in Mt. Ida AR and search for "land." There's a brief summary there that shows median price and "popular neighborhoods." I live in the northwest part of state and have some familiarity with that area. Message me if you want more general information. 

Ditto the previous suggestions.

I'd suggest asking about animals, not pets. Service animals and ESAs are not considered pets. 

I also ask about past or pending evictions. 

Thank you! I'll try the addendum route with them. I'm hoping they'll be agreeable once they realize I'm going to immediately attend to all the repairs the current owner has ignored. 

I'm closing mid-December on a tenant-occupied SFH. This is the first time I've purchased investment property with tenants in place, so want to be sure I do everything correctly. Their lease runs through July 2018. Current owner lets them mail a check for monthly rent. This has been a problem for her due to delivery delays and mail theft. I've avoided similar problems with my own rentals by requiring tenants to pay online.

My question: can I require the inherited tenants to pay rent online even while they're on their existing lease?

On the lookout now for a more motivated seller. Thanks for your comments!