OT: Any Real Estate investors / landlords here?

[Aqua Keepers]

My dad and I have a property in Youngstown. We have a guy on a two yr land contract that's about to expire and he can't get financed. So, we're thinking of putting him on a month to month or 6 month rental agreement. Anyone have a rental agreement?

 

[ReefWidowed]

You can buy generic ones at Staples or Office max...there's half an aisle of forms. If you have MS Office, it has a template you can download, and you can also just google "rental agreement free" and come up with a bunch of them.

Good luck!!

 

[Aqua Keepers]

I know that laws vary from state to state. So, I just wanna be sure that it falls within Ohio guidelines.

 

[lawdog]

I would never advise using a boiler plate generic form rental agreement especially in this market and economy and especially in a land contract situation depending on how much has been paid in you may be forced to foreclose instead of evict if it were to go that direction.


You need a rental agreement drawn up... I would contact a lawyer.... If you do not have one please feel free to PM me and I can give you a hand...

 

[ortiz76]

A real estate attorney is your best bet.

 

[Aqua Keepers]

Thanks. I have a team on retainer, but was hoping to get away with using a generic form. Time to get my $$$ worth out of these guys.

 

[chuggy]

i know this sounds mean but business is business take the house back

 

[Old Crusty]

Its surprising that theres no attorneys at all in the Reef Forum.

 

[Aqua Keepers]

<a href=showthread.php?s=&postid=13840474#post13840474 target=_blank>Originally posted</a> by chuggy
i know this sounds mean but business is business take the house back

I could do that, but in my book it just seems more of a hassle than I need or want right now. He's a great tenant. He pays every month on time, and keeps up with the property very well. I just don't wanna tie the property up with an other land contract if I don't feel he's gonna get financed any time soon. If I have him in a rental agreement, my payments are getting made and I can still sell to someone else who can get financed.