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All Forum Posts by: Andrea M.

Andrea M. has started 24 posts and replied 553 times.

Post: Need help to rent my condo to a company

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

I would look up corporate rental companies in that area and contact them. If they are interested they may even furnish the unit based on their standards.

I used to work for a company in NY named Furnished Quarters who also had a partnership with another company named BridgeStreet and Oakwood who are all corporate rental companies not sure if they have expanded into that area but it won't hurt to look them up and contact them. Good Luck!

Post: returning deposit to hold question

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

Was this deposit accepted on the pending review or verification of application, documents, credit & background check? If so I would include the specific reasoning for the denial . Keep a copy of the check & letter for your records.

Include an invoice if you are deducting the cost of reviewing/credit check/background check.

Also make sure you are in compliance with your local landlord tenant law on the specific time frame in which the refund should be issued and the form of which the refund should be issued.

Post: Contractors wanting to get paid cash

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

Any form of payment, get a receipt/invoice even if its form you create and have the contractor/sub sign it saying they received it.

Post: Expense data for low income vs. high end rentals

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

I don't have any hard factual numbers however, I don't agree with lower end rentals having more vacancies/higher cost in turn around. I have a few lower end rentals and perform inspections every 3-4 months, with 24-48 hour notice to the tenant.

Higher end rental would need higher end or better quality of paint, flooring and fixtures, where as a lower end rentals you may be able to use carpet remnants, mistint paints and basic fixtures. For me it depends on the tenant and family structure, tenant screening process and inspections to catch any damage to the property.

Someone in a higher end rental may pay $1500 a month and be a total slob and have no regard for the property ,where as someone paying $700 a month may be a neat freak.

Post: Can Security Deposit be used to pay for unlawful detainer?

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

I don't think you can use security deposit or any portion, to file your unlawful detainer, however the court cost can be included in your petition for reimbursement.

Check your states landlord/tenant act/law, this may be illegal even though its stated in your lease.

Post: Our first renovation project

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

It can be fun and overwhelming but rewarding, post/take picture of before and after

Post: Possible Short Sale Deal In Conyers, Ga

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

The bank/lender will speak with someone else, as long as the mother gives her written permission. The son may also have to submit the POA to the bank/lender to show that he has the authority to handle her affairs.

I have an amazing broker in the Atlanta Area, her name is Yakira Maynard email [email protected], just tell her Andrea referred you..good luck!

Post: Tenant moved out - things that are chargable?

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

Have you done any inspections during this tenancy? After 5 years its certain things I would expect to change/repair/upgrade. What ever you decide to charge the tenant for, I suggest you document it clearly and send them an invoice explaining all the deductions and the cost of repair including materials and labor and keep a copy for yourself. Take a few pictures for your records prior to replacing/upgrading in case this doesn't go over well with the tenant.

Post: How do I search for code violations and/or eviction notices?

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

In my area, code and grass/weed violations lead to the property being placed on the condemned list which is found online on the city's website in pdf format.

Also, I can do a name search on the local courts database to find any/all court proceedings free of charge.

Post: An applicant with a unique request, wants to sign 5 year lease.

Andrea M.Posted
  • Real Estate Investor
  • Hampton, VA
  • Posts 562
  • Votes 109

Outside of it sounding weird, they can totally destroy the home or have some crazy remodel which may not be rentable for another tenant which can cause you big bucks to undo what they did.

Not to mention a 5 year lease may not be legal, check your landlord tenant law. In my area, the max a tenant can sign is 2 year lease with the option to extend.