Tenant Thursday - Maryland Real Estate Investing Advice. A Weekly Series on handling Tenant issues when investing in Real Estate in Maryland.
Want to hear a tenant mess? Two friends who want to be roommates, sign a lease for an apartment. Shortly after they are settled, Tenant One decides to let his girlfriend move in. His roommate, Tenant Two, hates the girlfriend and decides to move out. I continue to get the rent, but then a month later, Tenant One kicks the girlfriend out and is no longer able to afford the apartment. Tenant One said I could have the security deposit, but that he doesn't want a judgment, bad credit or a bad reference from me.
In the meantime, Tenant Two would like to move back in to the apartment, but would like to have Tenant One's name removed from the lease. The only problem is that Tenant Two wants to add someone new to the lease - a new roommate - who has bad credit.
As a Landlord, how would you handle this situation? Email me to find out how it all got resolved.
If you'd like more information on investing in Real Estate in Maryland, feel free to contact me.
Photo credit: http://www.flickr.com/photos/umjanedoan/497345293/
Clients always ask me: Are you on the web?
See for yourself.
Tim McIntyre, GRI, Ellicott City Realtor, Catonsville Realtor
Helping Clients Buy, Sell and Invest in
Howard County, Carroll County and Baltimore County
for more than 25 years.
tmcintyre@cbmove.com 410-480-3555
www.timsellshomes.com
Oh Lordy! What a mess! It's tough being a landlord. Sure wish you'd share the ending to the story... These are lessons for all of us to learn, if we're considering investment properties in any region.