All Forum Posts by: Therese V.

@Jeff B.

How does it work if a person is living there and the landlord doesn't know for a few months because they were stealth? Do you just confront the tenant and say "is there another person not on the lease living here?" What if they play the "they are visiting" etc card but the neighbors state otherwise?

If they say yes so and so just moved in you let them know they are in breach and need to have the other person fill out an application? If that other person puts them over the rooming limit for the locality can you file for eviction right there?

Just trying to think of issues that might arise throughout my time as a landlord. This also brings to mind another question about pets. I will have to create another thread to address that. :)

@Kurt K. @Thomas S. thank you both for your responses. I don't have a specific situation in mind, just seeing what I can work on learning until the need arises. I'll take another look at the state's regulations.

How often do you guys raise rents? Do you wait until there is a specific difference like $50 or $100 in market value of the rental or just every year? A specific percentage or dollar amount?

What are the requirements to raise rent on a month to month lease? Is it just 30 days notice or is there something more? Does it matter how much the increase is compared to the total rent? How does one take in to account market rent when a place has been rented for below market rent or not raised in multiple years?

Can a landlord in a month to month lease that started off paying water or other utilities later require tenant to start paying those utilities? How does this work and should the landlord be mindful of?

If a landlord notifies a tenant of increase in rent or starting to pay utilities previously paid by landlord and the tenant does not comply what remedy does the landlord have? Does a tenant have a reasonable expectation that anything will stay the same or change through the year in a month to month lease situation?

What limits are there to the tenants' use of outside space of a property? Can tenants decide to cut trees or bushes without asking permission first? Is this something that should be addressed in a lease? Can tenant's decide to do work on a car in the garage/driveway? If tenants do that, can the landlord ask for expenses to clean up anything left behind (or from anything similar for example spray-painting something or building furniture)?

If a tenant decides to do one of the fore-mentioned things or something similar and injures another is the landlord responsible or the tenant? If a tenant asks to do something, you say no and they do it anyway is there a remedy for the landlord? Can a landlord send a tenant a letter to cease and desist any of these activities (or watering the lawn, or having a garden, or paint ball in the yard, or target practice, etc)?

If you have a lease with someone and then later down the line they have children staying there that are not on the lease are they considered tenants as well (children are minors)? Can you evict a tenant for having children that they do not have full custody of staying at the house when you didn't know they would be prior to the lease? What remedies does a landlord have in month to month vs yearly lease in this situation?

If there is a per bedroom limit of people residing in the property, do the noncustodial children count for that limit? How does that work?

If you rent to someone and then after the lease is signed someone else moves into the property can you tell them that person can't live there? Can you require that person to pass the same requirements you had for the tenant to move in? Does the response change if it's a month to month vs yearly lease? What remedies does a landlord have if the extra person would not meet the requirements? What remedies does the tenant have if the location only allows 2 people per bedroom and the extra person(s) would exceed that amount (and you didn't know they were going to move additional people in prior to leasing to them)? Is it easy to evict people that are paying on time and otherwise no issues but randomly moved an extra person in, or that the extra person is above the allowed per bedroom rule in the locality?

Can I require tenants to have rental insurance? If they say they don't need it, should I get that in writing? Would I be required to pay (or my insurance) for their damaged property (tv, couch, jewelry, etc) in the case of something happening in the home? Does it matter if that was theft, natural disaster, tenant caused problem, maintenance issue (like water damage because pipe bursts etc)?

Do you require it? If I don't tell them to get it does that change things? If I tell them to get it but it isn't a requirement to rent to them does that mean anything?

I've got property on busy streets and property on streets in the back. I actually prefer the busy main streets because that is easy access to work etc.

I think as all things in real estate it's really just another location thing. Where I invest people prefer the streets with easy access. Where I live, it appears people prefer the cul de sac that takes 30 minutes to get out of the subdivision style living arrangements.

He wouldn't have $105k cash. 

If you get a loan on that property for $105k, then you would pay off the first mortgage. If that is $75k, then you have $30k in cash. You are getting the repair money you spent back so that you can do it again with another property. 

In some cases, people are able to get an ARV higher than the amount of the first mortgage +down payment + repair costs so that leaves even more money for the next deal.

Just remember, the money will pay off the first mortgage first so you aren't getting that as cash for the next deal.

you can try ms access and create a file for each property and then fields for which leg of the journey you're on.