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11 September 2024 | 21 replies
Apparently it doesn't matter as they won't take any new ones, only renewal of existing.
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11 September 2024 | 10 replies
I also file a 30 day notice if they don't commit to renewing their lease between 30 and 60 days from the lease's termination date.
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10 September 2024 | 2 replies
I pay E&O insurance and RE renewal fees, etc.
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11 September 2024 | 69 replies
So I just saw this post about Section 8 HUD tenants, and this post stated something along the lines of section 8 tenants being more likely to damage properties because they're section 8 low income tenants, and also something about investors not wanting to put money needed into Section 8 properties because they think they're just going to be ruined by these Section 8 tenants, and as someone who knows the entire process with investors, owners, contractors, tenants, and prospective tenants, this is what I have to say about it:In my experience, Section 8 HUD tenants are actually better custodians of the property because of many factors, but 3 of the main reasons being, there is an annual HUD inspection that is performed on each property, so this gives the owner an extra 'protection vector' against damages, also, the initial placement of a Section 8 HUD tenant requires a passing HUD inspection, therefore there's a record of the property's initial state prior to move in, and additionally, they want to have an easy renewal voucher process annually, and their unit remaining in good condition is an incentive for those reasons, therefore they are LESS likely to damage a property - their future depends on it!
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12 September 2024 | 21 replies
If they are like "i will pay when I pay", then you will just have to suck it up but realize you will not be renewing them when the time comes up.
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10 September 2024 | 11 replies
When their lease ended in August, you could have offered them to sign another one-year lease, or they could pay a higher fee for a monthly rental to offset the risk you face of a winter vacancy.When my tenants are up for renewal, I give them three choices:1.
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9 September 2024 | 9 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.
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9 September 2024 | 4 replies
As soon as she started to fall behind/be late more than once, I'd not renew her lease especially if tenants aren't communicating with you.If there is extensive mold, tell her to remove her items so you can treat the property.
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7 September 2024 | 9 replies
Before you say 'you should have the money to get into a contract' I normally wouldn't be in this situation but I've just closed on a property that was all cash 2 weeks ago and a friend calls me on a property that's truly an amazing deal that I want to get into contract (has stable tenants renewing contracts above market, I can get for under market).
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12 September 2024 | 27 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.