Buying or Selling a Home/Landlord Property Rental

Advertisement


Question
Hello my name is Dino


I have some (commercial property) questions to ask you.

Background:
I own a 5500 square foot shop on 1 ¾ acres of gated land, with an apartment that I live in myself, above the shop. I rent the ground floor of the shop and land, with limited access to all for myself and my personal stuff. We split all utilities 50/50.
I have never rented my place to anybody, other than the guy who bought my old “Vending Business” from me and who has rented from me for the last 13 years. Well he has finally worn out his welcome with me and I want to raise the rent or find another renter.
I have No signed contract, lease or security deposit with this guy and he is on a month to month basis. I want to handle this situation very delicately because its seems to me as a “Novice” in property rentals business, I know that Landlords get sued more than, any other people in business!

In my situation, who has the upper hand legally, the Landlord or the Renter if things get nasty?

What are the typical dirty little tricks that disgruntled Renter's do to a Landlord, when forced out?

Can I make him clean up the shop or pay for clean up, if he decides to move out?

Should I line up NEW potential “Renter” as backup, before I spring the increase on him?

What steps can I take to help keep my property from setting Idle, BEFORE a renter decides to move out?


Thanks
Dino


Answer
Hi Dino,
Sorry for the late response, your message only appeared to me today.

You have a long time tenant you want to get rid of?

Does the tenant want to leave?

You may want to back yourself up with a lawyer just in case.

I would say the terms of your unwritten lease are the amount of the monthly rent and whatever historic pattern you have had relative to it.  You can increase the rent, the tenant can leave.  You can ask the tenant to leave or help the tenant leave.

If you really want the tenant out don't make it harder by asking for clean up money, etc, just let the tenant go and find a new tenant.

Your next tenant should have a lease with terms including, rent, rent increases, termination notices, etc, then you both know where you legally stand.  You can get a standard Blumberg Lease at an office supply store.

Hope this helps you.

Hans

Buying or Selling a Home

All Answers


Answers by Expert:


Ask Experts

Volunteer


Hans Weber, Licensed Broker Associate

Expertise

I am able to answer questions related to buying or selling residential real estate in New York. There are many questions buyers and sellers have about the process of buying or selling a home that they are afraid to ask or that might seem too simple to ask. For instance: in a house, why do some doors open in and some doors open out?

Experience

Licensed real estate agent in New York State in 1988.
Serving buyers and sellers as a full time occupation since 1988 with over 300 successful residential real estate transactions.

Organizations
National Association of Realtors.
Westchester County Board of Realtors.

Education/Credentials
Graduate of Pace University in 1988 majoring in business and minors in taxation and computer science.

Awards and Honors
Consistently one of top sales awarding winning agents for Coldwell Banker in Westchester County.

©2012 About.com, a part of The New York Times Company. All rights reserved.