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25 December 2024 | 3 replies
.: It's not an issue IF their lease is scheduled to expire.My personal practice: when a tenant submits an application, I let them know I intend to contact their former landlords.
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2 January 2025 | 2 replies
If you go to sell the business, but want to keep the land and lease it to the business, I would then separate them at that time.
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24 January 2025 | 36 replies
Tenants in lower Classes will have lower credit scores, which means higher chance of defaulting on their lease payments.
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3 January 2025 | 18 replies
(You know you’re on the right track and you insure future leases end between March and July by varying the length of the new lease.)Good luck.
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7 January 2025 | 24 replies
There's also disclosures in there that have to be included in your lease paperwork.
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4 January 2025 | 5 replies
This would improve the property value and also allow you to lease out the 5th unit.
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13 January 2025 | 27 replies
However, eviction must be by cause (i.e. you can never evict without a justifiable reason - so more or less you are stuck with a tenant unless they stop paying rent or breach their lease, or some other narrow units such as moving in or curing code violations - though then you have to pay relocation costs).
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6 January 2025 | 2 replies
And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.
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8 January 2025 | 11 replies
Consider hiring a paralegal well versed in leasing, renewing, and evicting.
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2 January 2025 | 18 replies
If your leasing application process is thorough and well thought out, and if your lease agreement has been well drafted by your local attorney and if it includes clauses that permit you/your property manager enough latitude to maneuver and anticipate undesirable tenant behaviors, both actions and inactions, and you have operational processes which align with enforcement of your lease, then you've done all you can do to reduce this inherent risk of an undesirable tenant.