Tenant w/Lease Agreement - Posted by Shenesa

Real Estate Investing
#1

Posted by Shenesa on November 17, 2000 at 11:23:51:

Thanks for your response.

To answer your question, he does not have a room mate. His girlfriend was staying upstairs quite often and I had to remind him that she was not on the lease and if she wants to move upstairs than the rent will increase. Originally I lowered the rent because I knew he was going to take care of the place and I wouldn’t have to worry about someone destroying my property. So if his girlfriend was to move upstairs, than he/she will be paying me the originay amount that it was advertised for. Another income coming in as opposed to just one (him).

As far as discriminating.I usually ask how many will be residing in the apartment? I set the appointment up, no show. Or when they find out that the landlord lives down stairs, they quickly loose interest.

Again, thanks.

Shenesa,NY

#2

Tenant w/Lease Agreement - Posted by Shenesa

Posted by Shenesa on November 16, 2000 at 10:53:05:

I was wondering how you would handle tenants who want to break a lease agreement and what actions should be taken?

I have a tenant who is on a one year lease agreement, which is up June 2001, that wants to terminate his lease contract next month. I informed him Sept when he mentioned it that the only way that I will terminate our agreement is if he purchase a new home or the month he moves out, another tenant moves in. I also told him that the advertising/marketing expenses will be on him since he’s the one that wants to break the lease. That has not happened. The reason he wants to move is he wants to buy a house and the only way to do that is room with his girlfriend and save money. Mind you, his girlfriend can move with him but I told him that the rent would increase.

Would appreciate some insight. I am strongly considering taking him to small claims court.

Shenesa,NY

#3

Re: Tenant w/Lease Agreement - Posted by Jim IL

Posted by Jim IL on November 16, 2000 at 19:53:29:

Shenesa,
You said that this tenant wants to move out so he and his girlfriend can live together?
You also said you told him the rent increases if the G-friend moves in?
why?
Do you pay the utilities or the tenant?
If he does, and is a good ontime payor who takes good care of the home, why not let his girlfriend move in.
Just tell him that she can mvoe in, but you want an application on her.
Don’t charge him an application fee, just use this to gather info on her just in case “they default” later.
Then, before she moves in, write something up to include her on the lease, making her half responsible for the rent.
This way you keep a good tenant, and save money without a vacancy.

Just my $.02,
Jim IL

#4

Re: Tenant w/Lease Agreement - Posted by ToolBar_SC

Posted by ToolBar_SC on November 16, 2000 at 14:46:44:

I don’t know how it is in NY, but here in SC I don’t take such a hard line. I believe, if the tenants want to go then we just need to work out the exit plan. If I try to hardball them, they usually do damage to the property that far outway any profits I would have made by keeping them in there by force.

I usually try and get them to give me a definite date, start the ads to rent it out again, and work out the costs with them. Usually they wind up leaving their security deposit (1 months rent) and the cleaning fee(1/2 months rent) and they show the house for me. When they move out, I’ve had them clean the house so well that I don’t even need to vaccume the carpets. Plus I most likely have someone ready to move in very close to when they move out.

I usually have more trouble getting bad tenants to leave than trying to keep good tenants. Every tenant I’ve let out of a lease earily has in some way paid me back. Usually it’s by telling one of their friends about how good a landlord I am and as a result I don’t have many vacancies.

Try to work WITH your tenants and it will pay off in the long run.

Good Luck

ToolBar_SC

#5

Re: Tenant w/Lease Agreement - Posted by Shenesq

Posted by Shenesq on November 16, 2000 at 15:04:18:

Thanks for your response.

You stated to work WITH my tenant as much as possible. If you only had an idea of the amount of time I put into working with this young man. It will take too much time to go into it. But I have. NY is very strict when it comes to tenant and landlord laws.
I am not worried about the young man messing the property up at all. For the most part, he is a very nice guy with some good character. It’s just the principle of the matter. Winter is here, how many people move in the winter season. Mist of the people that has called about the apartment have 5,7 and 8 kids, YIKES!!! Not over my head.

Thanks again for your response.

Shenesa, NY

#6

Re: Tenant w/Lease Agreement - Posted by Tom

Posted by Tom on November 16, 2000 at 16:38:57:

Why would you charge more if he has a room mate?
Personally, I would let him out, keep the deposit for breaking the lease, raise the rent, and re-rent it. I have 16 rentors and have never kept one that didn’t want to stay. Becareful, can’t discrimiate based on family…