All Forum Posts by: Sachin H.

Thanks everyone.  Looks like I need to fire the property manager.  They are not responding to my calls / emails / text (This is a mom & pop shop and not big ones) - But let me get this tenant issue fixed first.  

GA law doesn't say how the notice to be sent.  Is email a valid form of notice?

Hey Guys.  

I own a property in Georgia and a new tenant moved in 4 months ago.  From the beginning the rent was always delayed by 3-4 days and I didn't mind that.  This month it has been crazy, first they started a story and they promised me to give the rent in 3 days and then again another story and 2 days time and finally they deposited using Cozy.co and the rent didn't go through as they had insufficient funds.  When I checked, there is a new story and they want to give partial payment and I did not accept it.  I gave one last extension for this Friday.  - All of this is happening via email 

Now here is my question 

1) Should I wait till Friday to send eviction notice or send it now with Friday as deadline.

2)  Should the eviction notice be mailed or is email considered to be good enough as we are communicating through email.
3) The tenant directly emails me and not property manager, I copy property manager everytime but she omits that.  Should I email the eviction notice or should the property manager send it?

Please advice as this is my first time going through this headache :-(

Thanks @Thomas S.

Just wondering why M2M is preferred? Isn't long term tenants preferred over M2M?

Thanks

Hey Guys,

My first investment property is up for renewal shortly.  It is in Villa Rica, GA (20 miles from Atlanta) and currently the family pays $1250.  I'm not sure if they want to renew it or not.  The contract says it is converted to month to month after with $100 increase.  If they want to renew it for another year, how much should I increase it by?

Thanks in advance

Sachin

@Kim Meredith Hampton

The tenants have not moved it yet.  They have not taken the keys either.  They are just postponing their move in date and not paying the rent as well.

Hey Guys!

First time investor here and this one has started giving me a little headache now.

I have a tenant (3 working friends in mid 20s and this is not a college town either) who signed the lease agreement in mid Feb with the start date as Mar 1st.  They did give the deposit and told me and Property manager that they will give the rent one day before they move in.  They have transferred all the utilities to their name and on the 1st they said they won't move until 10th and now they are telling they are out of town, in the day shift/night shift and different stories but not sure if they really intend to move or not.  They have not collected the keys and have not paid the March rent as well.

My question

1) I have told property manager to collect full month of March rent as the lease agreement says rent starts from March 1st.  So if they don't move in in the next few days - As a landlord can I terminate the lease?

2) When I terminate the lease can I deduct the rent for 15 days from the deposit? or the full deposit?  What is the norm.

Hello GA folks!!

I closed my first out of state property in villa rica recently.  Would love to hear more about investment opportunities in other part of GA. 

@Jonathan Twombly  Thanks for you input.  

I recently bought a property near Atlanta doing lot of analytics and data related research myself (didn't just go with what some website told me that xyz is the hot market)  - Not sure if I am right or wrong about the market yet but the whole process of getting a tenant and PM was daunting especially since I'm out of state and BP folks have been wonderful and have learned a lot from the folks here - Thanks again to all of you)

Back to this topic:  

The idea of positive cash flow since I closed my first OOS investment property has stuck my mind and I have been following lot of topics on where to invest and sometimes artificial social proof that people say I have 10 units planning to by X more makes you believe that you have to buy more.  I'm not saying when people say they are buying x more in 2 months or 2018 is bad but we don't know their investment and exit strategy and more over their risk appetite.  Your point here is really appreciated and brings newbies like us back to reality.   Thanks again.

Why would you wait 6mo?  That is no cash flow for 6months? Are you fixing your house and think it would be ready by 6mo then that is a different story. - If your house is ready to be rented now and I know there won't be lot of movements during Spring in a college town but I would not wait for someone for so long.  Can you share little more about the local market?

Assuming you have a tenant who is leaving in July/Aug and you have found someone who is willing to rent and wants to sign lease then why not collect security deposit?  That way you know for sure that this person is gonna rent.

Only 1.

Closed my 1st investment property (out of state) in Jan - Just got the lease signed! Ohoo!