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25 November 2015 | 23 replies
Since you inherited this tenant, and if they are not doing anything you don't want done in the place that was permitted previously (indoor smoking, pets, etc), and paying on time, then consider it a gift - you have all kinds of leverage for raising the rent or booting them out without the lease.
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7 December 2015 | 2 replies
I have learned a great deal more since that time and I want to fast forward to the current and get into the lease option deal we put together several months ago.We have rented the property for the last 2 years @ $1,600 per month to 2 different tenants.The mortgage payment is $950 per month ($107k loan for 30 yrs).Each time trying to lease option on my terms but to no avail.As they say, third time is a charm and the prospect came calling.When they asked about the lease option, these are the terms I sent over to them and they were the following:Purchase price: $189,900, $1,500 per month lease payment, $50 per pet per month fee, $50 application fee each applicant, 5% non-refundable option fee, one month security deposit, and 20% of monthly rent going towards down payment credit when option to buy is exercised.We agreed on all the terms above with a purchase price of $182,900, $1,600 rent (2 pets) and 2 year option agreement.There was a buyer’s agent involved so I paid her a portion of the owed commission and the buyer paid the rest (buyers portion will be credited when option exercised).I was not going to pay all of commission up front not knowing if buyer will or will not take option.You can do the rest of the math to figure out what the net profit will be once the option is exercised.
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31 December 2015 | 11 replies
They have a 4 but then later 5 bedroom (added suite in the huge basement) house with their sons, pets, family friends, etc coming through.
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22 February 2017 | 17 replies
I was wanting an additional deposit since there was an animal involved, I made it clear it wasn't a "pet" deposit but he is still claiming I can't charge more for the deposit since I had told him it was because of the dog I was going to require more.
19 March 2016 | 5 replies
Prescreening for policy(smoking,pets), income and willingness for background, criminal, eviction checks.2.
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28 October 2016 | 7 replies
You may NOT charge additional rent or a pet deposit or fee.
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9 November 2016 | 6 replies
I showed my rental to a family today that I'd like to have move into my property but they can't afford the approximately $3500 needed to move into the home (1st months rent + deposit + pet fee) plus December's rent in 2-3 weeks making the total cost about $5k.
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2 December 2017 | 4 replies
We will be installing a sink in one of the 'bedrooms', but no range, w/d hookups, furnace, etc. so when we eventually want to sell, those items can be easily removed.Rentals are currently in huge demand in our area - we had a catastrophic wildfire about 10-15 mi from our home and people are desperate for housing, but I am becoming concerned as I've seen people recommending lying about ESAs to get their pets in rentals (we have 2 dogs already and wont accept pets), people reporting rental listings to the AG if they think the price is too high (gouging), along with the general worry over destructive/abusive/etc tenants.
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8 November 2017 | 6 replies
Some things that you should consider when it comes to the lease are: Inherited tenants, Pet Addendums, RUBS - who pays for water, electricity, etc.