The Home Ownership Thread

[texas_jack]



Depends on the state. Minnesota, as an example, is very owner friendly.
If they've been good renters thus far, why are you making such a big deal about it?

Talked to the neighbors, he may have been there for months. Indiana is also a non friendly tenant state. Good for us

I mean...he's a friend of a pastor, staying there while looking for a place...I'd probably just let that slide. That certainly isn't what I would define as subletting, and it isn't like the current residents aren't responsible for any damage their guests may cause.


Are you going to tell me I had to add all of my past girlfriends to my leases? The current one doesn't have keys, but the doorman will let her in without calling me and will give her a set of keys if I'm not home.

See above. Presumably they've been making money off of our investment, as a capitalist this offends me.

 

[texas_jack]

I can't work the multi quote thing sorry

 

[Piobaire]



See above. Presumably they've been making money off of our investment, as a capitalist this offends me.

Seems like they were exercising the highest form of capitalism: OPM.

 

[sinnedk]



We went by our rent house to find some dude walking in the door as we drove up. Turns out our tenants took on another renter without telling us. The lease forbids this. Suggestions? We don't really want to evict them as they've been good until now and we don't really want to go through the process of finding someone else. Should we just raise the rent? What is a good percentage? Pitfalls?

Thanks

I mean...he's a friend of a pastor, staying there while looking for a place...I'd probably just let that slide. That certainly isn't what I would define as subletting, and it isn't like the current residents aren't responsible for any damage their guests may cause.
Are you going to tell me I had to add all of my past girlfriends to my leases? The current one doesn't have keys, but the doorman will let her in without calling me and will give her a set of keys if I'm not home.

I agree with OTC.

They have a guest whom is not paying them anything so he is not a renter. The don't have to disclose a guest to you and you caught him by accident. It could of easily been a family member staying for a few days and having the keys. When i visit family or they visit me we give each other keys to use.

I think you overreacted on the situation by directing them to a rental agreement and telling them the person has 3 days especially since you said they are good tenants. With good tenants you give benefit of doubt and talk to them.

I had a few situations which i prefer not to post about on a public forum (hope you understand) where my wife and I said ******* called the other party and just talked to them and worked things out.

 

[texas_jack]

Well, the letter is for the paper trail should the problem continue. We have to be protected so to a degree it's just bluster. As far as being a visitor, he said he's been there several weeks, the neighbors said months. No one visits for that long. He lives there, and the lease says only they can live there.

 

[sinnedk]



Well, the letter is for the paper trail should the problem continue. We have to be protected so to a degree it's just bluster. As far as being a visitor, he said he's been there several weeks, the neighbors said months. No one visits for that long. He lives there, and the lease says only they can live there.

Well in that case since its been months that's definitely an issue.

Funny thing is you may be doing them a favor given they probably didn't know how to tell a pastor to leave.

You gave me a great idea in case someone overstays their welcome.

 

[texas_jack]

We found his facebook page he moved to town in March.

 

[Ataturk]

Unless you're paying utilities or they're causing excessive extra wear and tear you should let it go and count yourself lucky that you have good renters.

If you're worried about them stiffing you or damaging property by all means get the guy to sign a lease so you have some recourse against him too.

 

[otc]

In that case, let them add him to the lease if they want (although sinnedk may be right that you are giving them a convenient "out").

I wouldn't raise the rent though if they are otherwise perfect tenants. Would you have lowered the rent if a single person had rented it by themselves? Raised it if the current tenants had a baby instead of a house guest?

 

[Piobaire]

I have a close friend that has owned small apartment buildings since the 80s. I can tell you from his experiences good tenants are something to be treasured.

 

[texas_jack]

Well, that's why I'm not evicting everybody. They're totally being sketch though. I asked for his number and they said they'll have him contact us. WTF?

 

[archetypal_yuppie]

Your copper pipes are probably already gone, and it's gonna take a while to shovel the human excrement and needles off the floor once they're gone. Be worried.

 

[Snoogz]

I have a close friend that has owned small apartment buildings since the 80s. I can tell you from his experiences good tenants are something to be treasured.

In that case, let them add him to the lease if they want (although sinnedk may be right that you are giving them a convenient "out").

I wouldn't raise the rent though if they are otherwise perfect tenants. Would you have lowered the rent if a single person had rented it by themselves? Raised it if the current tenants had a baby instead of a house guest?

Unless you're paying utilities or they're causing excessive extra wear and tear you should let it go and count yourself lucky that you have good renters.

If you're worried about them stiffing you or damaging property by all means get the guy to sign a lease so you have some recourse against him too.

Yes to these. I wouldn't cause too much of a hassle for them, especially if they are otherwise good tenants. OTC is correct is his judgement of not necessarily having to increase the rent, but adding him to the current one, to make the new guest/tenant responsible, should any issues arise.

 

[jbarwick]

Well, that's why I'm not evicting everybody. They're totally being sketch though. I asked for his number and they said they'll have him contact us. WTF?

Maybe they want him to contact you so you can talk with the possible tenant. I agree with others that you are being rough on the person. They are 25 and messed up with this situation but like you said, your lease didn't mention this so you can't get angry.

 

[RedLantern]

So I've been waiting almost 2 weeks to get an appraisal back for a refi that I'm trying to do. Combination of lower rate plus small cashout to keep my payment the same but get cash so I can do my kitchen reno sooner rather than later. My house is probably the biggest in the neighborhood Square footage wise. The dumbass appraiser set the floor for Square footage too high so he had to go way outside my neighborhood (to the ghetto) to find a house with comparable square footage. Appraisal came back at 375k. We were appraised last October at 480k. If I miss my lock date because we have to appeal this foolishness, it's really going to hit the fan (rates have shot up since our lock date, eliminating the benefit of continuing).

For example, our house is 2900sf 4br 2.5ba with 2 kitchens and 2 living rooms. A house 2 doors down with 4br 2ba and 2360sf sold 2 weeks ago for 460k. That house has a lot of weird stuff going on and is not as nice as my house. That house is also not used in the appraisal - I'm sure because it didn't come up for the appraiser because he set his SF floor too high during his search.