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You are here: Home / Archives for I am a Small Time Landlord

How to Choose the Best Lease Term

July 20, 2014 by Elizabeth Bennett Colegrove 2 Comments

Lease Term

There are many different types of lease terms and they have different pros and cons. Here are a few examples... Three Lease Terms to Choose From: 1. Month To Month (M-to-M):  Pros: A short term lease allows either party to break the lease with 30 or 60 days notice depending on the lease.  Cons: Tenants can break the lease at any time with proper notice. This is a problem if there are definite moving seasons in your areas.  Ask … [Read more...]

Filed Under: How to Hire a Property Manager, I am a Reluctant Landlord, I am a Small Time Landlord, I am an Empire Builder, Self Management

The Solution to a Broken Lease: The Buy-Out Clause

July 17, 2014 by Elizabeth Bennett Colegrove 26 Comments

The Buy-Out Clause

Tenants breaking the lease was one of my most common "issues" and seem to occur regularly. The default legal language does not allow for any penalty for breaking a lease beyond holding a tenant to the lease until a replacement has been found. The Problem: Landlords, by law,  are required to re-list the house and show the house in a good faith effort. I have never lost a day of rent so I was always penalized. It made me very upset that … [Read more...]

Filed Under: I am a Reluctant Landlord, I am a Small Time Landlord, I am an Empire Builder, Self Management Tagged With: Buy-Out Clause

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I love my family, my country and real estate. My goal is to retire early through frugal living and real estate investment. I am making great strides and want to share the information I've learned through the process. Read More...

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Most Popular Posts:

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