• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Relieve that tenant not moving next week

Fernando

Thread Starter
Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Tenant was supposed to leave next week but she couldn't find a place which is good for me.
Her apt rent is below market (no updates in past 10 years) and I didn't understand why she wanted to move.
Maybe she couldn't find any place cheaper in town. Maybe it's a bad time to move during this rising Covid period.

If she moved, I had to do some major renovations costing at least $50,000 which I don't think I can get back with the increased market rent let alone the lost income from opportunity cost of being vacant.
I'd been worried past several weeks in having to deal with this problem. Many contractors are busy during this time. I still have several vacant spaces to lease out.

Until she's ready to move out, one less thing to worry about and more time for me to do appraisals.
It's a happy new year.
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Tenant was supposed to leave next week but she couldn't find a place which is good for me.
Her apt rent is below market (no updates in past 10 years) and I didn't understand why she wanted to move.
Maybe she couldn't find any place cheaper in town. Maybe it's a bad time to move during this rising Covid period.

If she moved, I had to do some major renovations costing at least $50,000 which I don't think I can get back with the increased market rent let alone the lost income from opportunity cost of being vacant.
I'd been worried past several weeks in having to deal with this problem. Many contractors are busy during this time. I still have several vacant spaces to lease out.

Until she's ready to move out, one less thing to worry about and more time for me to do appraisals.
It's a happy new year.
I never liked it when my tenants moved out unless they were horrible. The repairs and improvements needed never seemed to be offset by the increased rent. I loved my long term tenants who fixed minor things and didn’t complain. Good tenants actually become friends.
 

Fernando

Thread Starter
Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
That's why the rent is low.
Last year when I raised her rent less than 2%, she was upset.
I was going to raise her rent next week and she knew it. I won't raise her rent this year. If it was her strategy, it worked.
 

Tom D

Senior Member
Gold Supporting Member
Joined
May 22, 2015
Professional Status
Certified Residential Appraiser
State
Pennsylvania
you seem to treat your tenants better than your appraisal clients.
i believe that would be called systemic business relation racism.
 

Fernando

Thread Starter
Elite Member
Joined
Nov 7, 2016
Professional Status
Certified Residential Appraiser
State
California
Tenant is not moving this month. She couldn't find a place and still looking.
That's what I thought. Where else can she find a benevolent landlord like me.
I hope she appreciates the low rent she has now.
 
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks