All Forum Posts by: Vicheka Chres

@Jaysen Medhurst

Thanks so much Jaysen. This helps a lot.

Hi BP,

Does anyone know or who work for the bank, say as loan officer or underwriter who form a legal entity for rental property?

I heard it’s conflict of interest to buy home that the bank you work servicing the mortgage loan on that prospect property. But I’m not sure about the subject matter above.

Any advice or shared experiences is much appreciated.

Thanks in advance!

Hi BP, I currently have five tenants on the lease that expIre In September. One of them gave 30 days notice to be remove from the lease. Please help provIde some suggestIons how to handle It. thanks so much!!

@Jim Cummings

@Nathan Gesner

@Mike McCarthy

Thank you everyone for your great advice. I've learn a lot from you guys. I am now waiting for that additional tenant to sign and the landlord's signature before send them copy of the lease. I didn't do the 'addendum' to add but only change the original lease to include additional tenant. Legal wise, is that okay?

@Rob D. I wish I knew about this rent increase opportunity ahead of time to disclose it with existing and possible tenant. So anytime, they want to add tenant, landlord or property manager can ask for an increase? 

I wanted to go with that approach after I googled 'what landlord needs to do to add extra tenant'. However, my brother, who co-managing the property, suggested we modify the lease to include all tenants' names and information and have all of them sign again. So the lease is already sent out via DocuSign and 3 of the 6 signed. And it's a signed by order. We don't know when we will collect all signatures. In the meantime, is it a good idea for me to switch back to the letter that only need that extra tenant's signature? 

Thank you so @Nathan Gesner for your great advice. Really appreciate it. 

Hello BP, 

I'm renting out this single family home to (currently) five individual tenants. One of them vouch for the additional tenant. I modified the lease to add the last tenant move-in date to Nov 1st but I haven't yet receive everyone's signature. So far I got three out of six signatures. Would this be a problem? If so, do you any suggestions of how I should fix this? 

Any advices and suggestions are appreciated. 

Thank you :) 

Thank you everyone for taking your time to help with my question. You all are awesome and very helpful :) 

@David Hutson

@David Hutson, I'll definitely reach out if we need repairs on our property in case we don't want to drive out there :)

Do you have facebook, instagram account or business number that I can connect with you?  

Hello, My brother and I are managing a family Rental in Sacramento from Tracy CA. RIght now Our tenant ask if we can fIx the doorknob. And I’m seekIng for some suggestions on the efficient ways for this minor repair. I was thinking of fix it ourself (save the labor cost) but we live about 60 miles from the property. Whether this is more effIcIent than hire a handyman. Thank you. Any suggestions are appreciated :)