Re: Old tenant, new owner - Landlord Forum thread 359350

Re: Old tenant, new owner by Garry on May 30, 2019 @00:02

Any idea why the deposit was only $200 back 8 years ago? Was the person a close family member or friend of the former owner, and they got a special deal on the deposit? No matter. Unless your state allows for you to request more for a deposit in later years of a tenancy, you are probably stuck with the $200 as their total deposit.

As for the LMR only being $775, compared to the current rent of $925, my suggestion is "don't rock the boat". You have a long-term tenant here, and unless she is causing other problems that you need to address, don't mess with your T. When she decides to give you a written notice of moving out, remind her in writing that the amount she put down for LMR years ago does not cover the current amount of rent, and that you will need to give her a 3 day notice to pay the remaining amount, or quit. Asking her now to come up with over $850, in addition to her monthly rent and other bills, could make her decide to move.

What you should have done, was bring these things up to the person you bought the 3-plex from, before you closed. You might have been able to get a small concession from the seller, to cover what you currently don't have from the tenant.

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Re: Old tenant, new owner by Aleta on June 2, 2019 @14:21	[ Reply ]

Thank you! Good info as always.