Mr Tenant, Im very excited about the opportunity to be your landlord and provide better service then you've experienced in the past" (side note it helps if you've already demonstrated your increased service) "As you know the renewal time is coming up quickly.

It solves the now, and pushes the issue out with time to address it in full.

I offered not to raise a rent and if they extend, they could cancel any time to buy their house.

Median sale prices for Melrose (single family homes) in the last 3 years are as follows:2024 (year to date): $590,0002023:     -->              $535,0002022:     -->              $502,500With interest rates expected to drop several times from the end of '24 into '25, many believe that property values will continue to rise.If you are concerned about tenants not paying, I'd recommend:- Do not rush into accepting a tenant.

Going the attorney route will take time and money, but it could be your best bet if the developer refuses to renegotiate directly.All the best!

However, you are going to have a hard time getting financing with that structure. 

I never actually transacted with them though, and was hesitant to do so because of how new the company was at the time..

Given that, we would get an immediate boost in cash flow which will also be very predictable month to month and save myself a bunch of time managing my property managers and dealing with the ups an downs of active real estate.

If the City has put an ordinance in place they're going to enforce it 99% of the time.

Our main hesitation is simply that we feel that pets will cause additional damage, odors, etc..If we were to consider this, what are you currently charging for fees, either one-time or additional monthly fee(s)?