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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Holdover Tenant at Below Market Rent Amount Posted by Kristine-CA on May 05, 2010 at 12:50 AM In Reply to: Holdover Tenant at Below Market Rent Amount posted by Kelly B on May 05, 2010 at 11:52 AM Kelly: I'm going to suggest that if you have a tenant/occupant who thinks they know they're rights...and you think they know what they are talking about....that you don't go any further without legal assistance. It really is possible to make the situation worse than it is. :) Your goal is key here and sets everything else into motion. Do you want to live in it? Rent it? Fix and sell it? If you want to live in it, there are relevant rights in the new laws. If you want to rent it or sell it soon, you may well have a tenant on your hands for the duration of the lease. There are so many steps that need to be taken in the right order. Obviously you will want to see this lease, confirm the ID of the tenant, and find out how and when you can change the rent to market (if, indeed, you can). I do not suggest doing this without an attorney with current landlord/tenant/foreclosure skills. : Picked up a prop at Riverside Co TS last week. The profile shows the home as owner occupied. When I went to the door a 20 something woman answered and said she alone is renting the property for $1000 per month, although she has not provided me with a copy of her rental agreement. The home is a 4 bed 3 bath 2200 Sq Ft that will bring $1500-$1800 in rent. The tenant/occupant was also quick to let me know that she is a RE agent and know her tenant rights and claims to have started her 1 year lease in December which is when the TS was originally scheduled for. : Can I give her a 60 day notice to vacate because rent is below market and she has only been there 5 months? : Also- If I give her a 3 day notice to pay rent of quit- how much monthly rent can I ask for? Follow Ups: Re: Holdover Tenant at Below Market Rent Amount SSinOC 2:41 PM, 05/05/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Kelly: I'm going to suggest that if you have a tenant/occupant who thinks they know they're rights...and you think they know what they are talking about....that you don't go any further without legal assistance. It really is possible to make the situation worse than it is. :) : Your goal is key here and sets everything else into motion. Do you want to live in it? Rent it? Fix and sell it? : If you want to live in it, there are relevant rights in the new laws. If you want to rent it or sell it soon, you may well have a tenant on your hands for the duration of the lease. There are so many steps that need to be taken in the right order. Obviously you will want to see this lease, confirm the ID of the tenant, and find out how and when you can change the rent to market (if, indeed, you can). I do not suggest doing this without an attorney with current landlord/tenant/foreclosure skills. : : : Picked up a prop at Riverside Co TS last week. The profile shows the home as owner occupied. When I went to the door a 20 something woman answered and said she alone is renting the property for $1000 per month, although she has not provided me with a copy of her rental agreement. The home is a 4 bed 3 bath 2200 Sq Ft that will bring $1500-$1800 in rent. The tenant/occupant was also quick to let me know that she is a RE agent and know her tenant rights and claims to have started her 1 year lease in December which is when the TS was originally scheduled for. : : Can I give her a 60 day notice to vacate because rent is below market and she has only been there 5 months? : : Also- If I give her a 3 day notice to pay rent of quit- how much monthly rent can I ask for? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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