All Forum Posts by: Jane Z.

We have been struggled on and off with landlord and umbrella insurance for our 12 rental properties for many years. Currently AllState provides landlord insurance for all 12 rental properties. AllState used to have 10 properties limitation, then removed it because we did not have any claim. Hudson provides umbrella insurance for home/auto and 12 rentals. However, we just received Hudson's renewal letter that they don't provide umbrella insurance for auto any more. My insurance agent thinks one possible solution is to have AllState provides umbrella insurance for home/auto only. AllState's umbrella insurance have 9 rentals plus 1 home limitation (max 10). Therefore, it could not cover all 12 rentals. Besides it is very expensive when includes rentals in their umbrella insurance. But that means my home would be insured under both AllState and Hudson, which I don't want. But even this is cheaper than AllState umbrella insurance with 9 rentals plus 1 home. My insurance agent will ask whether Hudson could remove my home for their umbrella insurance policy. Hopefully this will be the solution. 

She is not a section 8 tenant any more and I don't receive any money from government agencies. So I think the property should not be covered by the CARES act. Furthermore, she will not be evicted because of no payment, but because we don't want to renew the lease. I think landlords have a right not to renew the lease. 

Thank you so much for the information. This is exactly my reply to the tenant. But instead of hearing back her response about the lease, I got her repair request. To avoid any conflict, I plan to answer her repair request from now on until 6/30.

What is a reasonable price for an attorney to handle the eviction?

Sounds good

I just sent the tenant not renewing lease notice. Here is her reply " I will need to stay here another year, unfortunately with this virus everything is out of wack!!!! I’m not working due to virus, but applied for assistance... have not received as of yet!!!! Praying for increase
soon... please send lease...Thank you for all you do!!!" Based on this reply, I am pretty sure she will not be able to pay rent going forward. I have never filed eviction before. Does this mean I need to file an eviction if I don't want to renew the lease?

There is no eviction ban in Georgia. But I am afraid that this tenant will not be able to catch the rent payment. Could a tenant still live in a property without the lease? Do I need to file eviction?

I have a tenant who has been living in one of our SFR properties since 1/2013. She used to be a section 8 tenant, but lost section 8 status at the end of last year because her son is over 18 years old. Also at the end of last year, she signed a six-month lease because at that time she was thinking about buying a home. I don't really like this tenant because we have to remind her of paying rent frequently even though eventually she paid all her rent. But for the last several months, she was only be able to pay her rent partially due to Covid-19 and I have told her that is OK as long as she will pay back later.

Her lease will end on 6/30. It is very likely she wants to renew the lease. But I don't want to renew. Instead I plan to forgo her rent owed and keep her security deposit, which is still less than the rent owed. Do you think landlords must renew leases during Covid-19? We just had a SFR rented out very quickly. So I don't think finding new tenants is an issue.

If we need to hire someone to mow the rental properties lawns or maintain websites, I am not sure why it will be very hard to convince IRS that we could hire our own kids to do the job if they are capable, and their payment is reasonable for their age.  

@Dave Toelkes Thank you for the suggestion. I had planned to open both custodial accounts and Roth IRA for them, then pay them through online payment from our business account to their custodial accounts, then transfer the money into their Roth IRA accounts. If you think custodial account is not necessary from tax prospective, I will be very glad to drop them.