Hi, Looking for some input on wording when renewing a lease for an existing tenant.

If you can't afford both, you'll have to make sure you have a lease signed on this one and they'll use 75% of the lease amount.

@Moncy Samuel - there should be some legal lingo in your lease agreement that covers this.

He's on a month to month lease now.

At the very least - you should be able to deduct items related to the driving truck(do you own or lease it?)

I have been a landlord by default for two years on a lease option and we have a mortgage on our current home but that is the extent of my experience.

If you want the returns, inflation hedging benefits and tax benefits then look into investing passively into syndications, REITs, or NNN leases.

Empathize with Bill and the seller's position and suggest that if you can't get back the funds you at least want to help the seller's case in court, work out some sort of deal, talk about a master lease option, basically anything that does not involve the idea of litigation. 

Typically, they would either:plan to manage it themselves (i.e. new home but same city) and create a lease, post a rental sign, post it online, etc., orcontact a property manager (or property management company) to take it overOnly owners that want to get burnt will call their buy/sell agent.

I would also like to include that we signed up for 1 year lease agreement and it ended in October 2017, we stayed in the house until February but didn't signed a new contract so basically it was a month to month lease situation.