InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Holdover Tenant at Below Market Rent Amount Posted by Mer on May 05, 2010 at 2:48 PM In Reply to: Holdover Tenant at Below Market Rent Amount posted by Kelly B on May 05, 2010 at 11:52 AM : 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? I am not sure she would even be a BFT as she indicated that her lease started when the TS was recorded. A BFT must have a lease before the NOD is recorded. Mer Follow Ups: Re: Holdover Tenant at Below Market Rent Amount Rick Harmon 9:23 PM, 05/05/10 (7) Holdover Tenant: What did she asked me for? maybe a sushi lover asked to lunch together at the local sushi bar? 3:05 PM, 05/06/10 (0) Re: Holdover Tenant at Below Market Rent Amount jimi 4:05 AM, 05/06/10 (5) Re: Holdover Tenant at Below Market Rent Amount bukzin 6:14 AM, 05/06/10 (4) Re: Holdover Tenant at Below Market Rent Amount IE Brian 9:50 AM, 05/06/10 (3) Yep, the winner is.. Rick Harmon 7:24 PM, 05/06/10 (2) Next time bukzin 9:27 PM, 05/06/10 (1) Re: Next time Rick Harmon 10:06 AM, 05/07/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : 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? : I am not sure she would even be a BFT as she indicated that her lease started when the TS was recorded. A BFT must have a lease before the NOD is recorded. : Mer [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455