hrt4lse: And yep, I would say you're right on that one, and usually the lease states that it reverts to month-to-month after the first year. It's another reason they're able to raise your rent more than once a year.
I've owned 3 duplexes over the past 10 years. I've seen property taxes soar to the point the rents couldn't be increased high enough to recover the increases and the last thing you want to do if you have a good/reliable tenant is jack up their rent unnecessarily. (Responsible tenants are as hard to find as a good wife)
And finally.....congrats Owen on your upcoming close!!! I remember I was excited when I went to pick up my keys.
Hopefully you're prepared for all the work you'll constantly be doing....lol....and you'll never be done....lol I painted the entire interior before moving in (ceilings too). Now I'm looking at the outside. Spent this past weekend moving 2 yards of river rock into the landscaping & have cut at least one tree down....lol....so have fun!!!!
Indyfella: I don't know how it is there, but when a one year lease is completed, it usually goes on a "month to month" basis afterwards, unless you sign a new lease.
If the lease was automatically renewable...you'd have to live there the rest of your life. Sign me, A landlord....
That's what I thought, as well. But she insisted that it carried over & that I could only move in September. That seemed ludicrous, but not impossible.
hrt4lse: And finally.....congrats Owen on your upcoming close!!! I remember I was excited when I went to pick up my keys.
Hopefully you're prepared for all the work you'll constantly be doing....lol....and you'll never be done....lol I painted the entire interior before moving in (ceilings too). Now I'm looking at the outside. Spent this past weekend moving 2 yards of river rock into the landscaping & have cut at least one tree down....lol....so have fun!!!!
Thanks! I'm planning on painting & wanted to do it before I move in, but now with everything that's going on with my landlords, I may just move in & then paint. It's actually move-in ready. I just want to make it my own, ya know?
sweetowen: Thanks! I'm planning on painting & wanted to do it before I move in, but now with everything that's going on with my landlords, I may just move in & then paint. It's actually move-in ready. I just want to make it my own, ya know?
Yep...I know!! Pick the color(s) you want & make it your own. Had a lot of input from my parents, but ended up doing what I wanted....lol
sweetowen: That's what I thought, as well. But she insisted that it carried over & that I could only move in September. That seemed ludicrous, but not impossible.
Thanks so much for the information!!
I'm not an attorney, by any means...so you may want to check your laws in Penn. I doubt she'd take you to small claims to collect the remaining rents. That's a pain in the butt...
sweetowen: Thanks! I'm planning on painting & wanted to do it before I move in, but now with everything that's going on with my landlords, I may just move in & then paint. It's actually move-in ready. I just want to make it my own, ya know?
Kinda like a dog marking it's territory. We all do it. (well, we don't whiz on all 4 corners of the yard, but you get the idea) Good luck w/the house!
Indyfella: Kinda like a dog marking it's territory. We all do it. (well, we don't whiz on all 4 corners of the yard, but you get the idea) Good luck w/the house!
No, but my sister's male cat did that in the house until we had him neutered.
Speaking of which, I'm getting my daughter's cat when I move too! I'm going to have her spayed & declawed though, of course. I don't want her in heat or to claw my furniture!
I'm still waiting for the final verdict on the house. And my closing's scheduled for Friday morning! It's with the underwriter right now. I should hear today or tomorrow. Wish me luck! I've already given notice to my landlords. I may be homeless soon......
chanah: Hello... check into an FHA loan! They are the hot item right now!
Thanks! I believe that's what my mortgage broker's doing. I'd be fine if it wasn't for the $45/month HOA fee. But my broker's been busting his butt for me!
Just emailed the mortgage broker, asking if there was any news. He said he doesn't believe the closing will be Friday. He said that even after it goes through the underwriter, if approved, there are some other small hoops to jump through. He told me the earliest he believes we could have closing is the middle of next week. Anybody have anything to settle an ulcer??
FINALLY!!! I got a call from my mortgage broker last evening... I've been APPROVED!! I have settlement next week!! I went out & celebrated last night... not much sleep! But hey, I'm a homeowner!!!
WITH EVERYONE WORKING ON IT FOR YOU, I THINK IT WILL BE JUST FINE AND YOU WILL BE HAVING YOUR CLOSING IN NO TIME. UNTIL THEN JUST REMEMBER, THERE HAS NEVER BEEN A PERSON WHO HAS PURCHASED A HOME, THAT HAS NOT HAD ONE SCARE OR ANOTHER. BUT 9 TIMES OUT OF 10 IT IS ALL TAKEN CARE OF AND THEY ARE IN THERE NEW HOME WITHIN A FEW WEEKS OF WHAT THEY WERE EXPECTING. KEEP YOUR CHIN UP YOU WILL HAVE YOUR HOUSE IN NO TIME.
sweetowen: FINALLY!!! I got a call from my mortgage broker last evening... I've been APPROVED!! I have settlement next week!! I went out & celebrated last night... not much sleep! But hey, I'm a homeowner!!!
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I've owned 3 duplexes over the past 10 years. I've seen property taxes soar to the point the rents couldn't be increased high enough to recover the increases and the last thing you want to do if you have a good/reliable tenant is jack up their rent unnecessarily. (Responsible tenants are as hard to find as a good wife)