All Forum Posts by: Vannak Kann

In California, does anyone know if the landlord is required to pay the tenant one free month if the landlord plan sells the property or move back in? 

Congrats, very inspiring. 

Hi all,

I have a rental home which I currently owe $149000, conventional loan 30fix at 4.9900% interest rate that I bought since 2013. I'm thinking of refinancing it to lower the rate, is it worth it to refinance and paying all the fee. I plan to hold this property as rental for a long time. 

If it makes sense to refinance, Should i refinance to 15 fix or 30fix?

Assuming I can get 3.5% for the conventional loan. Should i just keep it as it is?

Thanks,

Hi All,

I'm in a bit of dilemma, currently i have two property which is 30 years fix loan. first property is 4.75% and second is 4.50. Now if both are rental property, does it make sense to refinance it to 15 fix loan. I have excellence credit, i probably get in the low 3 percent rate. 

In general, what would be the approach to rental property, 15 or 30 years? I'm looking to purchase another property within a month or so. thanks

Thanks all for the reply, here what I decided to do:

1. Confirmed the date she is moving out by the end of this month, she plan to move out in August/2015.
2. Give her back the lease as long as she cleans up and ensuring that the house is in the same condition as she moved in. 
3. I will only deduct whatever needed to clean and fix up and give her back the different.

There is no point of me forcing to live in a place where she might not be able to afford it. I have a friend who own property and he will find new additional tenants. Anyhow, thanks all for your replies, it was very helpful and I've learned a lot from this discussion. Happy renting !

Actually, I have a comprehensive lease agreement which include early termination and deduction from early termination. 

What  i am concerning here is the fact that she might not be able to make the rent, i guess i would ask for the firm date of moving out and looking for new tenant and will deduct any fee associate to filling new tenant and fixing fee.

Another question is that she has 1 month deposit if i can't fill by then, should i deduct the whole deposit?

Thanks all for your feedbacks.

Hi All,

Currently renting property in Fresno, CA. Tenant moved in in 02/01/2015 and lease won't end until 02/01/2016. However, on 04/01/2015 tenant told me that she probably want to move out because of the work issue and her daughter/son in law who live with her want to move back to Mexico. Tenant expressed that it will be difficult for her to pay the whole rent if her daughter/son in law move out. ( they are not 100% sure if they are moving in August/2015).

The tenant is letting me know as a courtesy. My question is:

If she is letting me know a couple  month ahead like this, What should I do with the deposit? Give her back or take it? and terminate the lease agreement?

She also express that she can continue to live there if insist ( which i don't think i can force her) I'm afraid that if she continue to live there, she might not be able to pay the rent? 

Please let me know what the best solution in this case.

Do you all have a good biggerpockets rental application template?

Hi all i have a couple question about renting my house:

• I just give a tour to a couple who show interest in my house, however i only ask them for email/phone and name.
• I don't have a rental application yet, however i plan to use MySmartMove.com. I plan to use my card to run the application, how should i approach asking for the application fee. Do i need to give them any receipt for the application fee, or just ask for it that verbally tell them that it's non refundable. 
• If i use MySmartMove.com do i really need a written application at all? Thanks

HI All,

I called City and water company and here what i find out:

City: City have to pick up trash even if tenant not paying the bill. It's a health hazard. As a result, It has to be in the owner's name. The city change the policy a few years back.

Water Company: I can have tenant name on the bill and bill can be sent to tenant and landlord concurrently. However, landlord is ultimately responsible for any bill not paid by the tenant.

The reason i don't want to combine rent and water/trash bill is that I'm afraid it shows that i make more $ in rent at the end of the year when filing tax. Is my concern legitimate? For example, if i plan to charge $1200/month and i add $50 for water and $50 for trash, wouldn't that show that i actually make $1300/month in rent? 

Can someone recommend the best way to do this?