Re: rental agreement modification - Landlord Forum thread 324637

Re: rental agreement modification by Katiekate (New York) on September 17, 2014 @23:05

Write a new lease. Put the new terms in the lease.

Get her to sign

Most state laws say that after a lease expires...the terms remain the same but the period becomes month-to-month. So write the new lease to be effective Oct 1

Be prepared to have her give you notice and move out

So..think this through. You have a tenant paying the rent (ok..late..but paying). She has been solid for you for 5 years. Now..think about the cost of turn over. You are empty for a month and you probably have to put a fair amount into the place...5 years of normal wear and tear is going to have a cost to you that is not to be ignored. You cannot charge the tenant for normal wear and tear. So...you will probably have many months to recover that cost and get back to break even.

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Re: rental agreement modification by dan on September 17, 2014 @23:30	[ Reply ]

Her rent is 1700$ a month and zillow reads the zestimate for the house is 2600$. She is getting a bargain and has rented out several rooms to tenants and baby sits multiple dogs at the house. Losing her as a renter could be a positive

Re: rental agreement modification by Kim (WV) on September 17, 2014 @23:51	[ Reply ]

Yeah, time for her to go, it seems. Sounds like you are losing a potential $900 a month renting to this less than stellar tenant! I say get her out and rent for the market rate!

Re: rental agreement modification by Shaun (Fl) on September 18, 2014 @12:19	[ Reply ]

In my area N. FL, Zillow is not always accurate. I sure wouldn't hang my hat on the $2600. without further data.

Re: rental agreement modification by Katiekate (New York) on September 18, 2014 @15:37	[ Reply ]

Oh geez...forget zillow. Go check the ads for units in your area. Look on Craigslist. If you price to high (and I think that is way too high) you will stand empty..so consider the lost rent for the months you are empty too