Good questions. While there are several different answers to this question depending on the details. With that said a Month to Month Lease is just that, Month to Month. Most times month to month leases are just as good as the peopleâ€™s word & integrityâ€¦.. It is always best to have lease with an expiration date, expectation & responsibilities outlined.
Renew the lease prior to expiration date. It protects the Tenant as well as the Owners of a property.
Hereâ€™s my â€œtakeâ€ on itâ€¦. You collected 3 years of rent. The place most likely has repairs, plaster holes, or paint basic wear & tear that you plan to take care of. I would not be too bent out of shape over a screen door and long as the people are out. Focus on finding a new tenant
You #1 priority should be getting the property back on the market to maximize your ROI (return on investment.) - Do you agree?... more
The flood map for the city of Abilene was revised around January, 2012. There were several areas of town that were removed from the flood zone area & some areas of town that were moved INTO the flood zones. This area that you are wondering about is no longer in a flood zone. The odd thing about this area, the creek runs right behind lots of houses in this area & you would think they would require flood insurance because of that. The creek is deep enough in those areas that it contains the water & floods in areas farther north.
If you have questions about a specific house, I would be happy to do the research - as an Accredited Buyer's Representative, I provide my clients with lots of information about the houses they are interested in, so they can make a well informed decision.... more