Advice needed on tenant end of lease

[alkemyst]

Seriously? 1) "out of their paycheck" isn't what you need, more like "out of their emergency fund" because they know this sort of thing happens all the time Alternatives (if you are fiscally sound) 2) Delay one month of 401k contributions 3) Delay your double-payment on your mortgage 4) put it on a credit card or get a short-term consumer loan 5) Trade out your stove so that you don't stick someone with a broken stove for weeks on end.

This is funny coming from you, our past fat/poorboy.

1) I addressed...many had to rent out their property and move cheaper today.

2) what is your 401K contribution? Many can't make one. Also many 401K changes take 1+ month to hit. This sucks when you are seeing trends in the market. I loved my Vanguard fund I had to liquidate in my divorce.

3) Double pay on a mortgage? Most struggle to make the single payment.

4) Many have no credit left

5) May not be possible. Some people have separate stove tops versus the oven part. Even then an all in one unit may not be the right dimensions.

 

[SpatiallyAware]

I can agree with that a bit. However; many are struggling to rent out their properties and have no avenue to sell it.

Our government changed the bankruptcy laws majorly over the years and it's totally nearly impossible for those that want to file to do so if they are making an average salary or even better.

I think the current rate for a Chap 7 is about $5k paid up front.

Fine, screw over your credit debt holders, mortgage holder, whatever. But don't rent out a property, hold someone to a poorly written lease over "cleaning the carpets" for $100, then turn around and make them wait almost a month to get a properly functioning stove.

File bankruptcy or eat the mortgage, screw over yourself and your lenders. Don't pull an innocent tenant into the screwed up obligations you already can't meet.

 

[jpeyton]

I have a tenant who has been in my property for 3 years with no incident and on time rent.

Three years of being a trouble-free tenant and you want to squeeze them for an extra $100-$200 because of your error in the contract?

Ending their lease was probably the best decision they ever made.

 

[SpatiallyAware]

Yup. And when he's being bent over by a couple of actual bad tenants he will wish he'd been decent enough to keep this guy around.

 

[EagleKeeper]

Yup. And when he's being bent over by a couple of actual bad tenants he will wish he'd been decent enough to keep this guy around.

He stated the guy is moving out because of a house purchase; not due to the end of lease.

 

[waggy]

Three years of being a trouble-free tenant and you want to squeeze them for an extra $100-$200 because of your error in the contract?

Ending their lease was probably the best decision they ever made.

add in that he had a broken stove for a month (yeah now he claims 2 weeks.. as if that is any better).

sheesh.

 

[NetWareHead]

The real estate guru act is entirely unconvincing, so I searched for other threads with "rent" in the title. The only result was this one where he admits that he didn't sell because "[he] will not be able to recoup the price [he] paid for it." Typical accidental landlord blowhard with a self-esteem problem.

1. You are referencing a post that occurred almost 5 years ago. The market back then is not the same as now.

2. This thread and that thread are about different properties!

3. Back then I couldn't sell it to recoup my initial investment. So I adapted and converted into a profitable rental. I had reservations about being able to do it as an out of state landlord and almost 5 years later it has been profitable and successful.

 

[NetWareHead]

That's too funny. There was another thread recently where OP was asking how to find out the residency status of potential painters. He didn't want to use one painter even though the guy was like $1,000 cheaper because the guy was illegal. And he's here arguing over $50 carpet clean on 8 yr old carpet while he's willing to pay $2,000 to repaint his rental. Meanwhile, professional landlords will pay $200 to get 1200 sq ft unit painted and another $1,000 for new carpet for the new resident.

Isn't residency status important to you when hiring contractors? I don't get what point you are trying to make here. If I hire an illegal, it is something I want to know beforehand.

$200 to get 1200 sq feet repainted? The paint by itself will probably be around that much. Even the supposed illegal I had estimate my unit (just the labor alone)was much more than that...

 

[NetWareHead]

He stated the guy is moving out because of a house purchase; not due to the end of lease.

:thumbsup: I'd like to take this opportunity to thank you for your attention span. More than once your posts have been accurate and factual. Your reading comprehension and attention to details here are appreciated.

 

[rudeguy]

:thumbsup: I'd like to take this opportunity to thank you for your attention span. More than once your posts have been accurate and factual. Your reading comprehension and attention to details here are appreciated.

Replying to your alt account is a sure way to get found out.

 

[NetWareHead]

Replying to your alt account is a sure way to get found out.

hahahaha

[size=-2]psst...Eaglekeeper is a moderator here[/size]

 

[NetWareHead]

Well to give the final update, end of month was yesterday and tenant and I did the inspection. He gave me the carpet cleaning receipt and I thanked him for being a good tenant all these years. Carpets looks very clean, feel springy and the entire place smells fresh. The whole place was clean and I couldn't fault him on anything. Call will be made to the bank Monday morning to close the security deposit account and forward a check to address he left me. Today I call the utilities and get transferred to my name.

My HELOC got approved and funds will be available in 2 weeks. I'm using that to fund a kitchen renovation. I met with a kitchen designer and together we picked out new cherry cabinets, granite countertop and tile for the floor and backsplash. I already paid him a 50% down payment and work will begin in 2 weeks. After thats done, new stainless steel appliances will be purchased. I already found a deep stainless thick gauge sink on clearance as well as new lighting fixtures. 2 weekends from now, the cabinets will be demoed, floor removed and kitchen prepared for installation.

The bathrooms were just painted 2 months ago while tenant was on vacation. He was happy to come back to freshly painted bathrooms. I noticed the light vanity has some rust on it so that is getting replaced. I became curious about possibly moisture hanging around the air (like steam after a shower) and sure enough the bathroom vent fan was all clogged with dust/lint. Thats either getting replaced or cleaned. Less moisture in the air, less chance of rust etc... The tile in the shower/bathtub is still original and looks surprisingly good. I can envision doing the bathrooms in 3-6 years and upgrading those to perhaps granite countertop, new vanity and a fancier tile for the shower and floor. After the bathroom is done, the place will be set and pretty much upgraded in all important areas.

Entire place is also getting painted. I'd like to get the place back on the rental market by Jan '14 and with the new kitchen and other upgrades, I hope to get 4 to 6 hundred dollars more in rent per month. If I can get $600 increase, the estimated price of improvements can be repaid in 25 months.

If there is anything this thread has taught me is that I'm going to spell it in clear english what I expect the tenant to do with the carpet. Something like :tenant will hire a competent and professional carpet cleaning service to clean all the carpets prior to vacating. Since I'm putting granite in, I'll also research the right and wrong ways to clean it and specify that as well in lease.

 

[SpatiallyAware]

You need to have a landlord-tenant atty review your lease. Good luck with future tenants!

 

[rudeguy]

Well to give the final update, end of month was yesterday and tenant and I did the inspection. He gave me the carpet cleaning receipt and I thanked him for being a good tenant all these years. Carpets looks very clean, feel springy and the entire place smells fresh. The whole place was clean and I couldn't fault him on anything. Call will be made to the bank Monday morning to close the security deposit account and forward a check to address he left me. Today I call the utilities and get transferred to my name.

My HELOC got approved and funds will be available in 2 weeks. I'm using that to fund a kitchen renovation. I met with a kitchen designer and together we picked out new cherry cabinets, granite countertop and tile for the floor and backsplash. I already paid him a 50% down payment and work will begin in 2 weeks. After thats done, new stainless steel appliances will be purchased. I already found a deep stainless thick gauge sink on clearance as well as new lighting fixtures. 2 weekends from now, the cabinets will be demoed, floor removed and kitchen prepared for installation.

The bathrooms were just painted 2 months ago while tenant was on vacation. He was happy to come back to freshly painted bathrooms. I noticed the light vanity has some rust on it so that is getting replaced. I became curious about possibly moisture hanging around the air (like steam after a shower) and sure enough the bathroom vent fan was all clogged with dust/lint. Thats either getting replaced or cleaned. Less moisture in the air, less chance of rust etc... The tile in the shower/bathtub is still original and looks surprisingly good. I can envision doing the bathrooms in 3-6 years and upgrading those to perhaps granite countertop, new vanity and a fancier tile for the shower and floor. After the bathroom is done, the place will be set and pretty much upgraded in all important areas.

Entire place is also getting painted. I'd like to get the place back on the rental market by Jan '14 and with the new kitchen and other upgrades, I hope to get 4 to 6 hundred dollars more in rent per month. If I can get $600 increase, the estimated price of improvements can be repaid in 25 months.

If there is anything this thread has taught me is that I'm going to spell it in clear english what I expect the tenant to do with the carpet. Something like :tenant will hire a competent and professional carpet cleaning service to clean all the carpets prior to vacating. Since I'm putting granite in, I'll also research the right and wrong ways to clean it and specify that as well in lease.

You aren't going to clean the carpet after all that demo and painting?

 

[NetWareHead]

You aren't going to clean the carpet after all that demo and painting?

If I'm careful enough to not dirty the carpets and have no paint accidents, a further cleaning would be unnecessary.

 

[rudeguy]

If I'm careful enough to not dirty the carpets and have no paint accidents, a further cleaning would be unnecessary.

You aren't worried about the smell or the allergens? I'm severely allergic to dust and I would be sick for weeks after a demo if it weren't thoroughly cleaned.

This is more proof of how either stupid, selfish, ignorant or some amazing combination of the three you are.

Again...I say you should have to show this thread to prospective tenants.

 

[NetWareHead]

You aren't worried about the smell or the allergens? I'm severely allergic to dust and I would be sick for weeks after a demo if it weren't thoroughly cleaned.

This is more proof of how either stupid, selfish, ignorant or some amazing combination of the three you are.

If they don't like the unit, nobody is forcing them to rent it. Much like the lady who saw my rental and told me there was a cat in there so that's why she couldn't rent it.

You can't get away from paint smell in any modern interior. Unless you want to live in a treehouse or cave. Dust is also everywhere which necessitates frequent cleaning, something normal people have experience with. Nice try.

 

[sze5003]

I would have cleaned the carpet after demoing the place.

 

[xanis]

If I'm careful enough to not dirty the carpets and have no paint accidents, a further cleaning would be unnecessary.

I'm sorry, but as a person with allergies, I can tell you that no matter how careful you and your contractor are while renovating, there will absolutely be enough dirt and dust in the carpet to make some people sick. If you told me that you did a whole renovation and didn't clean the carpets, I'd turn around and walk out the door right then and there. As a prospective tenant, I'd be a little concerned; I'd probably ask myself what else the landlord would be a PITA with if he couldn't even be bothered to shell out a little money for a carpet cleaning after a renovation.

 

[NetWareHead]

I'm sorry, but as a person with allergies, I can tell you that no matter how careful you and your contractor are while renovating, there will absolutely be enough dirt and dust in the carpet to make some people sick. If you told me that you did a whole renovation and didn't clean the carpets, I'd turn around and walk out the door right then and there. As a prospective tenant, I'd be a little concerned; I'd probably ask myself what else the landlord would be a PITA with if he couldn't even be bothered to shell out a little money for a carpet cleaning after a renovation.

I'm not going to worry much about it. Of course I'm going to vacuum and clean. If another thorough cleaning is warranted, oh well then I'll do it.

This isn't a full on renovation either. I could see if drywall was being ripped off the wall and wood was sawn inside the unit. But this is unscrewing cabinets from the wall and mounting new ones with countertop. There might be some dust from the tile being put down when the contractor mixes the mortar/grout, but that can be vacuumed up. Paint I'm not worried about either. Same with the other minor improvement such as installing light fixtures etc... I'm not too worried about creating a mess that needs another professional cleaning.

 

[Venix]

1. You are referencing a post that occurred almost 5 years ago. The market back then is not the same as now.

2. This thread and that thread are about different properties!

3. Back then I couldn't sell it to recoup my initial investment. So I adapted and converted into a profitable rental. I had reservations about being able to do it as an out of state landlord and almost 5 years later it has been profitable and successful.

At least put a little effort into your lies. In this very thread you said that this condo "was [your] first home purchase and lived in it for 5 years."

I suspect that this is your only "rental unit," that it's a huge money sink, and that you post poorly-constructed fibs about your real estate acumen in an attempt to feel better about your situation.

Edit: I found your use of the word "unit" to be unusual so I did a search for it. You went from asking about how to rent your crappy underwater condo to bragging about your extensive experience with multiple tenants and rental properties in a mere four months. Hahaha, what a bullshitter.

 

[rudeguy]

At least put a little effort into your lies. In this very thread you said that this condo "was [your] first home purchase and lived in it for 5 years."

I suspect that this is your only "rental unit," that it's a huge money sink, and that you post poorly-constructed fibs about your real estate acumen in an attempt to feel better about your situation.

Edit: I found your use of the word "unit" to be unusual so I did a search for it. You went from asking about how to rent your crappy underwater condo to bragging about your extensive experience with multiple tenants and rental properties in a mere four months. Hahaha, what a bullshitter.

Need popcorn!

And seasoned salt. Who took my seasoned salt damn it?!

 

[OCGuy]

FYI I accidentally sent the carpet guy out before some remodeling was done. .....bad idea.

 

[waggy]

FYI I accidentally sent the carpet guy out before some remodeling was done. .....bad idea.

yeah its a bad fucking idea. having such remodeling done is now going wo waste his carpet cleaning.

 

[NetWareHead]

At least put a little effort into your lies. In this very thread you said that this condo "was [your] first home purchase and lived in it for 5 years."

I suspect that this is your only "rental unit," that it's a huge money sink, and that you post poorly-constructed fibs about your real estate acumen in an attempt to feel better about your situation.

Edit: I found your use of the word "unit" to be unusual so I did a search for it. You went from asking about how to rent your crappy underwater condo to bragging about your extensive experience with multiple tenants and rental properties in a mere four months. Hahaha, what a bullshitter.

First property purchase ≠ first home (living place). Even my cousin purchased his first property and has never lived in it, rented it from the get-go. I've also lived in other's apartments where I rented for cheap while I landlorded.

Congratulations. You found posts from years ago where I was still wet behind the ears. Back then I was pretty new at owning my own properties, but even before I purchased my first, I worked in my family business since I was a teenager which includes managing several residential units and commercial properties. You are the one with assumptions here using words like "guru" and "acumen" much like you assume my condo is underwater. I have never had an underwater mortgage. I'm just a working guy who is looking to build up a nice portfolio of properties and hopefully transition to a new career and be able to retire doing what I like.