All Forum Posts by: Tom R.

I'm considering placing a bid on a house or two on auction.com. The listings say No Conventional Financing Available. I have been unable to find any information on closing time. If I win will I have enough time to find my own financing?

My tenant asked for a roommate and I agreed to allow it. She found a suitable candidate and he passed the checks. The problem is she let him move in before he signed the addendum to the lease and now he wont sign until he speaks with an attorney. The whole situation makes me sick to my stomach. What should I do?

Unfortunately his background and credit check came back stellar, he has a great job makes plenty of money. I've asked my tenant if she really wants him for a roommate.

My tenant wants a roommate which is OK with me. She picked out someone and I sent him a request for a background and credit check via Cozy. 

He asked me to reimburse him the cost of the checks. I told him I wouldn't do that and that I was allowing my tenant to have a roommate at no extra charge which I did not have to do. (If i do this again I will raise the rent)

He sent me a screen capture of his credit report and claimed to have been a landlord for 30 years which I dont believe. I told him that while the credit report appears authentic almost anyone with a computer could fake a credit report and that the cozy reports are my way of verifying he qualifies for tenancy.

My tenant told me she would reimburse the charges and I relayed that to the applicant.

Then right before he sent in the application he sent me a link to some reviews of cozy and people saying they reimburse the fees to tenants and highlighted some of them saying

"I hope you will consider these reviews for your business? Hopefully you do not think these reviews below were easily made by anyone with basic computer skills?"

and

"In my opinion if I was a landlord again I would try to create a great relationship from the start by doing exactly what is highlighted above. After all once a tenant is accepted they are in your property and the more you have looking out for your back the better the whole rental and profit experience becomes. Clearly $40 bucks is a small amount to show your faith in a tenant? It would be for me I assure you. And I believe it is a deduction expense since it is inline with doing landlord business.

Regards Thomas’s comment that I simply fabricated my credit report is rude at best."

If I deny him simply because he is an ******* am I opening myself up to a lawsuit?

My tenant has asked for a roommate. The tenant has already paid a security deposit and a pet deposit. If I charge a security deposit of 1 months rent to the new tenant the total security deposit charged to both tenants would be more than 2 months the total rent paid by both tenants. I'm pretty sure the answer is no but can I do this or do I have to keep it at a maximum of 2 months?

My first tenant would like a roommate. The roommate she has chosen asked if I would reimburse him the cost of the credit /background check. Is this something that is normally done? I used a property manager to find the first one and I have no idea if they reimbursed her fees or not.

I drove by a few houses listed on auction.com and found that 2 of them are under renovation. The first had roofer on the roof while I drove by. The second had the garage door removed fresh drywall on the walls and ladders sitting in the garage. Why would someone be putting money into a house that is being auctioned off by the lender?

 That sounds good but when the original tenant moves out if the second tenant stays I now have no security deposit. 

My tenant has asked to get a roommate. I'm OK with it but I said the new roommate would have to pass the same background checks she did. My question is when I approve the new tenant and we sign a modified lease do I restart the term of the lease?

@Teri Feeney Styers It looks like it might be possible to split the property into two parcels although I would prefer to keep it as one. Currently my plan is not to sell the house but to turn it into a short term rental. Oddball houses do really well on airbnb. I know a guy who rents out two tiny "eco pods" about 100 sq ft each that dont even have a kitchen for more than double the going rate of a standard home in the area and he is between 80 and 100% book year round. However there are 2 other dome homes are for sale in the area and there are actually quite a lot of unique houses in this town. If once its completed It has alot of equity in it I would consider reselling it.  Im not too worried about the demo work. My neighbor and friend is a heavy equipment operator and I can probably get him to do the work for the cost of the rental and a couple of steaks.