Issues with Tenant - Investment Property

Discussion in 'Property Management' started by mercthunder, 23rd Jan, 2018.

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  1. Dean Collins

    Dean Collins Well-Known Member

    Joined:
    21st Feb, 2016
    Posts:
    982
    Location:
    New York
    Owlet is 100% right - as an investor it is up to YOU to know the rules and be on top of your PM.

    My schedule is calendared the day a lease is signed to do the following
    70 days out….contact agent, gives us 7 days to decide on new rent rate
    63 days out…..serve notice with tenant request to renew lease 30 days to decide
    33 days out….If the tenant doesn’t renew on 33rd day give “30 days notice” ending fixed term asking them to leave

    Show property 28/21/14 days out ( tenants in NSW must allow access-cant confirm about other states )

    If tenant renews……new lease kicks in with increased rent on the first day of new annual lease.
    If tenant declines new lease……tenant leases the last day of lease and new tenants move in with increased rent on the first day of new annual lease.

    NEVER EVER let tenants go month to month.