All Forum Posts by: Zhihan Wan
Zhihan Wan has started 4 posts and replied 14 times.
Post: Month To Month Rent After Extented Lease

- Posts 14
- Votes 3
Thank you so much for your all reply. They recently gave us the final closing date on 9/30 but willing to move out on 10/5. We plan to let them start their maintainance and clean this month and just raise $100 MTM rent so we can both win-win. We will put the house on the market next month just want to start early and do our best to reduce the vacant time. Thank you again for all your suggestions. It's definately good idea we need to look for a tenant who wants to sign a longer lease and end by summer time.
Post: Month To Month Rent After Extented Lease

- Posts 14
- Votes 3
Quote from @Bill B.:
So you’d rather they move out at the end of August instead of the end of September? (As they obviously won’t sign a year long lease.) is September really that much better than October that you’d rather have guaranteed vacancy?
I do usually charge more for MTM than year long leases but it’s probably only $100 or $200/mo more. Personally Sept 1st and Oct 1st are the same in my market. So normally I would say $x for year long lease and $x+$100/$200 for MTM. But in your case you might just go with MTM is $x+$100/$200 because you know they don’t want a year long lease. No use having them take the discounted year long lease and then just leaving anyway in a month or two.
.
A simple one page option saying.
1) I understand because of your circumstances you’d like to lease MTM.
2) I don’t usually do MTM leases and it’s harder to lease my property in the “winter”
3) because you’ve been such good tenants I’d be willing to make an exception for you at the rate of $x+$200 with the stipulation your provide more at least a 31 day notice to give me time to find a new tenant. (Assuming thsi is legal in your market.)
Actually I'm not sure if they can move out in September, maybe the builder delays and could be in October. Thank you so much for the valuable advice. Those are really helpful.
Post: Month To Month Rent After Extented Lease

- Posts 14
- Votes 3
Thank you guys all so much!! Those are all good suggestions. We probably will charge more MTM and ask them to keep us posted on the closing date.
Post: Month To Month Rent After Extented Lease

- Posts 14
- Votes 3
Good morning! Happy Friday! It's me again. We have one rental home has an extended lease with the tenants till the end of August. The tenants have a new home building nearby and the house is supposed to be closed in September. They asked if they can continue to stay and give month to month rent after August since the closing date is not in certain. The house is located in a fast developing area and we experienced this situation two years ago. The previous tenants actually moved out 2 months later as the initial closing date they gave us. It was in mid of October and we had the house vacant for 2.5 months to get the current tenants. I believe the rental market is more friendly to the houseowners between spring to summer time for a good ISD area. We don't want this situation happens again. Do we need to insist not signing for the month to month rent? Or should we take the month to month rent and probably the market won't be that bad this second half of the year? Thank you in advance!!
Post: Rent Deduction From House Maintenance

- Posts 14
- Votes 3
Thank you so much for all your suggestions. :)
Post: Rent Deduction From House Maintenance

- Posts 14
- Votes 3
Hello, happy weekend! I thought it would be better to throw a new post here about the rent deduction question. We had an leaking issue in the last post when the previous tenants stayed for their last two weeks. It was caused by AC unit dripping. After they moved out and the new tenants soon moved in, we must have the handyman to fix the upstair carpet and board and downstair ceilings. Since the tenants usually go out to work and our handyman will have to book 3 days in a week to have the work done, the tenants want to discuss about the rent deduction or prorated rent for July. We will try to coordinate with handyman to come over the weekends, but the tenants seems will be out for weekends as well. Is it normal to give them rent discount? If so, how much should we consider, like do we need to calculate by their salaries by hour or how much day/hours spending so they will be deducted from the rent? May I have any advices from you guys? Thank you so much!
Post: Negligence Issue With Tenant

- Posts 14
- Votes 3
Quote from @Wesley W.:
I wouldn't offer any discount. An incident occured upstairs, not due to your negligience as a landlord, and you are responding appropriately and having the damage repaired. Not every inconvenience in our life is someone else's financial responsibility. Life happens.
You could try and coordinate the work times between the handyman and the downstairs tenant, but I think that would be impractical for your tradesman. My lease says we have a right to enter at reasonable hours to conduct repairs, inspections, etc. I would say if the work is being done between 9am and 7pm weekdays, that is reasonable.
Thank you so much for the very helpful suggestion. I agree we need to talk to them and coordinate the work times between the handymand and the tenants. I should clarify it earlier that it is the new tenants' request and the work to be completed was happened right before the previous tenants left. I try to be nice to the new tenants cause it does make some inconvience for them. The tenants mentioned few times it will occupy the working hours because the handyman needs three days to finish. But I'm not sure if they're reasonable to get the prorated rent in July.
Post: Negligence Issue With Tenant

- Posts 14
- Votes 3
Sorry again, another question popped up. If our tenants work outside during the day and our handyman has to spend few days to come to fix the carpet and floor, the tenants ask us if we can give them rental deduction to make up the working hours, how much rental dections should we offer them? Based on their salaries per hour or based on the days they spend from rental? Thank you again!!
Post: Negligence Issue With Tenant

- Posts 14
- Votes 3
Thanks everyone. Unfortunately we don't have specific clause to make tenant report leaks and defects on time. It's a lesson to learn and pay. Will put the preventative clauses on the lease in the future.
Post: Negligence Issue With Tenant

- Posts 14
- Votes 3
Oh I forgot to mention, if the AC dripped before leaking outside the wall, the tangent didn’t notice. The AC company said the dripping usually happens before leaking. Is it still our own responsibility? Thank you!