All Forum Posts by: Trevor K.

Or maybe an incentive to earn more income, and pay their own rent. It's all a matter of perspective.

Do the tenants have a lease right now, or are they month to month?

Delivery of what?

Please keep us informed. I would really like to know the outcome of this situation.

Your idea about offering a rent freeze is the way I would do it. A rent reduction is not reasonable unless prices are falling. Maybe kindly remind them about the cost, hassle, and general PITA of moving.

Maybe in Texas it is legal to screw people over for breaking a lease, but not in most states. In my state you need to actually have damages to keep a deposit. Can they legally keep your deposit? Maybe, my guess is no. Will they keep your deposit? Probably. You can take them to court, but if you are moving you are likely screwed.

Ask anybody interested in the parcel to make an offer. You can likely find any comps on the internet on your own.

How much is it going to cost you to convert the units? How long will you need to rent these units to break even on your cost to renovate?

Rentals that cash flow are my favorite. I have both, and there are reasons. In my area taxes are high, and multi units offer a lower tax rate "per door." SFH tend to be in stable, "nice" areas. They offer less risk, and greater theoretical appreciation.

Thanks. I will go over the leases with the tenants.