 New Landlord (by Lee [PA]) Jan 12, 2015 6:55 AM
 New Landlord (by Bill [TX]) Jan 12, 2015 7:01 AM
New Landlord (by Lee [PA]) Jan 12, 2015 7:08 AM
New Landlord (by Bill [TX]) Jan 12, 2015 7:59 AM
New Landlord (by Vee [OH]) Jan 12, 2015 8:25 AM
New Landlord (by Nicole [PA]) Jan 12, 2015 9:10 AM
New Landlord (by Kim [WV]) Jan 12, 2015 9:12 AM
New Landlord (by LiveTheDream [AZ]) Jan 12, 2015 9:45 AM
New Landlord (by Ken [NY]) Jan 12, 2015 9:48 AM
New Landlord (by Rr [WA]) Jan 12, 2015 10:23 AM
New Landlord (by rani [TX]) Jan 12, 2015 10:28 AM
New Landlord (by Sue [MI]) Jan 13, 2015 6:19 AM
New Landlord (by Nicole [PA]) Jan 13, 2015 9:01 AM
New Landlord (by Josh [CA]) Jan 14, 2015 9:05 AM
New Landlord (by RathdrumGal [ID]) Jan 14, 2015 9:31 AM
New Landlord (by Lee [PA]) Posted on: Jan 12, 2015 6:55 AM
Message:
State Specific Question About: PENNSYLVANIA (PA)
Bought building on Jan 6, tenants had lease (month to month) with prior owner, when should my lease be dated? Tenants have not paid rent as of yet....previous landlord did not collect for Jan. --174.140.xxx.x |
New Landlord (by Bill [TX]) Posted on: Jan 12, 2015 7:01 AM
Message:
What does your contract with the previous LL regarding January rent?
Generally speaking, your new agreements with tenants should be preceded by a 30 day notice.
--75.20.xxx.xxx |
New Landlord (by Lee [PA]) Posted on: Jan 12, 2015 7:08 AM
Message:
I get the rents for January..
--174.140.xxx.x |
New Landlord (by Bill [TX]) Posted on: Jan 12, 2015 7:59 AM
Message:
Rent due on 1st? You closed on the 6th? Previous LL owes you the January rent.
--75.20.xxx.xxx |
New Landlord (by Vee [OH]) Posted on: Jan 12, 2015 8:25 AM
Message:
Be sure of parking, appliances, water/sewer payment plan, other utilities - who pays what and what escrow is held... --75.94.xxx.xxx |
New Landlord (by Nicole [PA]) Posted on: Jan 12, 2015 9:10 AM
Message:
hindsight but prior owner should have collected January rent and then prorated it at settlement. your attorney screwed up by not doing this.
Go knock on the doors, introduce yourself and ask on the spot for the rent monies. Give them a sheet of paper with your contact info and anything else you deem important. --72.70.xxx.xxx |
New Landlord (by Kim [WV]) Posted on: Jan 12, 2015 9:12 AM
Message:
He said previous landlord did not collect for January.
Perhaps your tenants are waiting to hear from you about the rent...where to pay it, if it's still the same amount and so on. If you haven't introduced yourself, it's time to make contact.
They were previously month to month. Are you going to continue that? Or are you going to require a longer lease period?
You need to have a written lease regardless of how long the rental period runs. It needs to state the amount of rent, when it's due, how it's paid and to who, who is responsible for what, etc. It can't start until you took ownership of the building.
You need to get on the ball before your new tenants decide the new landlord is going to let them live there for free. Personally, I'd do month to month rental agreements until I had a chance to evaluate the current tenants and see if they are tenants I want to keep.
--173.218.xxx.xx |
New Landlord (by LiveTheDream [AZ]) Posted on: Jan 12, 2015 9:45 AM
Message:
And you are the MANAGER! --24.121.xxx.xxx |
New Landlord (by Ken [NY]) Posted on: Jan 12, 2015 9:48 AM
Message:
Knock on the door and they either hand you rent or you hand them an eviction notice --24.92.xx.xx |
New Landlord (by Rr [WA]) Posted on: Jan 12, 2015 10:23 AM
Message:
Get current rents, that is priority 1.
Next, sign new FULL month-to-month agreements with each tenant. Include all require forms such as lead paint disclosure and inventory of current condition of the rental unit(inspect the unit). This will protect you if you need to evict them later. Also, get a new application from each adult with SSN and date of birth.
Did you get deposits from the prior owner? Did you get lease paperwork for each tenant? Estoppel forms?
My advice: take care of all of the above ASAP, or you will later regret it.
--67.160.xx.xxx |
New Landlord (by rani [TX]) Posted on: Jan 12, 2015 10:28 AM
Message:
if you closed on Jan 6 - what took you six days to ask this question? Did you have a lawyer/agent at closing? Who reviewed your sales contract? --50.205.xx.xxx |
New Landlord (by Sue [MI]) Posted on: Jan 13, 2015 6:19 AM
Message:
I think a bit of research before closing would have helped you a ton but that's water under the bridge. Get a good book on being a landlord and READ IT YESTERDAY. If you don't you will be in a real pickle in a couple of months. Get the rents NOW or hand them notice. They all know it was due so it won't be a surprise for them. It's ok to be inexperienced, but arm yourself with knowledge. Keep coming to this board, there are some terrific nuggets of wisdom here. I save the best into a file and you can always look up old posts for information. You can be a success or you can fail but it depends on knowledge. --75.51.xxx.xxx |
New Landlord (by Nicole [PA]) Posted on: Jan 13, 2015 9:01 AM
Message:
if you haven't had them sign a lease yet, when you do, be certain it contains a waiver of notice clause ... one of the best tools in a PA landlord's tool box. --72.70.xxx.xxx |
New Landlord (by Josh [CA]) Posted on: Jan 14, 2015 9:05 AM
Message:
prior rental lease is valid until it's expiration I don't believe you can change the terms of the lease just because you have bought the building correct? --96.41.xx.x |
New Landlord (by RathdrumGal [ID]) Posted on: Jan 14, 2015 9:31 AM
Message:
You need a "your building has been sold letter" that introduces the new contact info, where and how rent is paid, etc. You should inform the tenants that you (whether you present yourself as owner or manager) will be meeting with the tenants within the next week to sign new leases/rental agreements. Take care of this ASAP. The book Landlording has a good sample letter. --70.210.xxx.xxx |
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