ETF's
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
ETF's (by NC INVESTOR [NC]) Oct 10, 2017 3:46 PM
       ETF's (by razorback_tim [AR]) Oct 10, 2017 4:58 PM
       ETF's (by John2 [MI]) Oct 10, 2017 5:01 PM
       ETF's (by John2 [MI]) Oct 10, 2017 5:01 PM
       ETF's (by OPM [OR]) Oct 10, 2017 5:09 PM
       ETF's (by BRAD 20,000 [IN]) Oct 10, 2017 9:03 PM
       ETF's (by Dave [MO]) Oct 11, 2017 6:11 AM
       ETF's (by Barb [MO]) Oct 11, 2017 7:19 AM
       ETF's (by S i d [MO]) Oct 11, 2017 7:24 AM
       ETF's (by J [FL]) Oct 11, 2017 7:27 AM
       ETF's (by J [FL]) Oct 11, 2017 7:37 AM
       ETF's (by NC INVESTOR [NC]) Oct 11, 2017 8:38 AM
       ETF's (by BRAD 20,000 [IN]) Oct 11, 2017 12:24 PM
       ETF's (by BRAD 20,000 [IN]) Oct 12, 2017 12:16 PM
       ETF's (by scott [PA]) Oct 12, 2017 6:57 PM
       ETF's (by scott [PA]) Oct 12, 2017 6:57 PM
       ETF's (by Art [AZ]) Oct 13, 2017 8:39 AM
       ETF's (by Art [AZ]) Oct 13, 2017 8:39 AM
       ETF's (by Art [AZ]) Oct 13, 2017 8:39 AM
       ETF's (by Honey [LA]) Oct 13, 2017 1:26 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

ETF's (by NC INVESTOR [NC]) Posted on: Oct 10, 2017 3:46 PM
Message:

I haven't used ETF's in years since no one has broken their lease in a long time and we only do annual with no M@M extensions. However, I just had my first ET and while all of our OOP expenses are covered I realized I need to be paid for my time.

My attorney advises 2 months for 1 year lease, 3 months for 2 years, etc. Sounds a little high to me.

What are you using for lease buyouts/ETF's?

--75.181.xxx.xx




ETF's (by razorback_tim [AR]) Posted on: Oct 10, 2017 4:58 PM
Message:

2 months plus $100-300 is what I typically use. --70.178.x.xx




ETF's (by John2 [MI]) Posted on: Oct 10, 2017 5:01 PM
Message:

Two months rent :) --24.231.xxx.xx




ETF's (by John2 [MI]) Posted on: Oct 10, 2017 5:01 PM
Message:

Ops...Two months rent for one year lease --24.231.xxx.xx




ETF's (by OPM [OR]) Posted on: Oct 10, 2017 5:09 PM
Message:

ASSUMING YOUR STATE DOES NOT FORBID OR REGULATE IT --162.247.xx.xx




ETF's (by BRAD 20,000 [IN]) Posted on: Oct 10, 2017 9:03 PM
Message:

NC,

We use a fee calculated by rent x 2.

Residents have no problem with this figure and my judge allows it but that’s his limit.

Check around with the big dog complexes in your area.

I also require a 60 day (2 full calendar months) notice period so some departing residents pay “3 months”.

When a guy is invited to live with his girlfriend he will be driven by hormones and walk over broken glass to get out of his lease.

Don’t be shy.

BRAD --68.50.xx.xxx




ETF's (by Dave [MO]) Posted on: Oct 11, 2017 6:11 AM
Message:

Two months for one year lease. --72.24.xx.xx




ETF's (by Barb [MO]) Posted on: Oct 11, 2017 7:19 AM
Message:

Thanks for pointing out the 60 day notice, Brad. I was previously using 30 days.

I learned last night that the BIG INVESTMENT MANAGER in town is requiring 2 months notice. Guess what my new lease will say!

I don't have quite 2 months ELTF - probably about 1.75 months. OTOH, I don't have a security deposit, either. I have a move-in fee.

My fee is lower than the big guys fee. :) --131.151.xx.xx




ETF's (by S i d [MO]) Posted on: Oct 11, 2017 7:24 AM
Message:

Guess I'm the cheap guy on the board: ETF = 1.5 months of rent. I require minimum 30 days notice as usual, on or before the 1st of the month in which they intend to terminate. No prorating...full last month's rent is still due. --173.19.xx.xxx




ETF's (by J [FL]) Posted on: Oct 11, 2017 7:27 AM
Message:

In Florida there's a max amount of two months rent for an ELT, in the statutes. --72.188.xxx.xxx




ETF's (by J [FL]) Posted on: Oct 11, 2017 7:37 AM
Message:

Sorry I meant ETF, not ELT. --72.188.xxx.xxx




ETF's (by NC INVESTOR [NC]) Posted on: Oct 11, 2017 8:38 AM
Message:

Thanks for the replies. Two months it is.

Ever since we went to annual leases with no M2M extensions we also went with 60 days notice. I send a reminder of notice date with their new rent 75 days before the lease expires.

The law is silent in NC regarding lease buy outs. They do have a limit on the number of months SD we can take depending on the length of the lease. Since NC is very stringent about the allocation of SD funds we have been very careful not to tie the buyout amount to the SD even though the reality is, that for most people, that is the most likely source of funding for most, if not all, of ETF's. --75.181.xxx.xx




ETF's (by BRAD 20,000 [IN]) Posted on: Oct 11, 2017 12:24 PM
Message:

Another note:

My lease is clear: Early Release Fee $____.

Less dramatic than TERMINATION.

BRAD --68.50.xx.xxx




ETF's (by BRAD 20,000 [IN]) Posted on: Oct 12, 2017 12:16 PM
Message:

I picked up the RELEASE term from Jeffrey's talks.

BRAD --68.50.xx.xxx




ETF's (by scott [PA]) Posted on: Oct 12, 2017 6:57 PM
Message:

RESIDENT MAY END LEASE EARLY

Resident may end this lease before the end date of the lease or any renewal term only with written permission from the owner and only if:

(A) Resident gives owner minimum written notice as defined in the lease end notice procedures, AND

(B) Resident pays owner a minimum early release fee of two months’ rent, plus utilities during the required notice period.

OR,

(C) Resident continues to pay all rent and utilities until the end date of the lease or, Owner secures a new resident to take the place of the current Resident, whichever occurs first. After finding a new resident, the Early Release Fee shall be the minimum equivalent of one month’s rent plus utilities due and payable until such time as a new lease is secured and new resident moves in. In the event of nonpayment of rent when due under option C, Resident agrees to end this Lease under option (A) and (B) above.

Note; Under any/all move out option(s) A, B and or C, resident will be held financially responsible for all cleaning and damages in accordance with the lease and is required to pay all rent, utilities and other obligations even if moved out before a new resident is found or end date of lease --73.187.xxx.xxx




ETF's (by scott [PA]) Posted on: Oct 12, 2017 6:57 PM
Message:

RESIDENT MAY END LEASE EARLY

Resident may end this lease before the end date of the lease or any renewal term only with written permission from the owner and only if:

(A) Resident gives owner minimum written notice as defined in the lease end notice procedures, AND

(B) Resident pays owner a minimum early release fee of two months’ rent, plus utilities during the required notice period.

OR,

(C) Resident continues to pay all rent and utilities until the end date of the lease or, Owner secures a new resident to take the place of the current Resident, whichever occurs first. After finding a new resident, the Early Release Fee shall be the minimum equivalent of one month’s rent plus utilities due and payable until such time as a new lease is secured and new resident moves in. In the event of nonpayment of rent when due under option C, Resident agrees to end this Lease under option (A) and (B) above.

Note; Under any/all move out option(s) A, B and or C, resident will be held financially responsible for all cleaning and damages in accordance with the lease and is required to pay all rent, utilities and other obligations even if moved out before a new resident is found or end date of lease --73.187.xxx.xxx




ETF's (by Art [AZ]) Posted on: Oct 13, 2017 8:39 AM
Message:

Two years ago I had two different renters move out early and I had no no items to cover this in these my least. I called around with the big heavy duty hundred plus unit a

partment in my city of Tempe Arizona as to what they do. They all said essentially the same thing – – two months extra rent before moving out. Also, if renter could find a desirable substitute person to assume the existing lease the new substitute person could continue with the lease until the lease was up. --24.251.xxx.xx




ETF's (by Art [AZ]) Posted on: Oct 13, 2017 8:39 AM
Message:

Two years ago I had two different renters move out early and I had no no items to cover this in these my least. I called around with the big heavy duty hundred plus unit a

partment in my city of Tempe Arizona as to what they do. They all said essentially the same thing – – two months extra rent before moving out. Also, if renter could find a desirable substitute person to assume the existing lease the new substitute person could continue with the lease until the lease was up. --24.251.xxx.xx




ETF's (by Art [AZ]) Posted on: Oct 13, 2017 8:39 AM
Message:

Two years ago I had two different renters move out early and I had no no items to cover this in these my least. I called around with the big heavy duty hundred plus unit a

partment in my city of Tempe Arizona as to what they do. They all said essentially the same thing – – two months extra rent before moving out. Also, if renter could find a desirable substitute person to assume the existing lease the new substitute person could continue with the lease until the lease was up. --24.251.xxx.xx




ETF's (by Honey [LA]) Posted on: Oct 13, 2017 1:26 PM
Message:

I gave a lot of thought to putting anything about an early termination in my lease with and without a fee,but Im afraid of encouraging the very idea. If it comes up and the renter has been a good tenant and asks for early release, depending on the reason, I may let them go for a small fee for the inconvenience. If its for a job transfer, you have to cooperate, but you try to ask them to ask new boss to cover their rent until you can find new tenants. Can anybody suggest an appropriate fee. Maybe we can make this a national standard. --212.247.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: ETF's
Your Name:
Your State:

Message:
ETF's
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: