All Forum Posts by: Jonathan Yungel

Hello fellow BP,

I own several rental properties in Atlanta GA and have run into a problematic tenant that has recently vacated one of my properties. the lease was for 24 months. she paid rent on time most of the time and fulfilled the complete lease ending on 5/31/2016. She informed me recently that she was expecting prorated rent  as she vacated and turned over keys 5 days prior to end of lease. I provided her the walk through sheet and itemized list of damages when i inspected home on 5/27, she handed over keys on this day. additionally we have recently returned her deposit minus damages, she cashed. 

walk through performed 5/27. this was originally scheduled for 5/30, she informed me that home was vacant and cleaned, thinking i would meet her any day she wanted. 

Am i liable to pay prorated rent return of 5 days? i can not find any legal statement that a landlord is responsible for prorating rent for walk through being performed 5 days prior to lease termination schedule as of 5/31. she has been a very difficult tenant to say the least. this property has been sold as of today.

I'm in a quandary.

Jonathan

most of the details i gather on a home before even going to see it is from the tax assessors office. it is accessible online. supply the address, county or parcels. here is a link i use. there are many reasons i use this. 1) it provides me the name of the current owner, shows me original purchase prices and there after purchases, 3) provides documented design, so when i look at a home i can know where certain changes like additions were permitted. here is the link. hope this helps you. this link is for GA as an example

http://gaassessors.com/

choose the county, then provide the address details.

Jonathan

whether the verbiage is in the contract or not Georgia courts have a habit of favoring the tenant when it comes to push a snd shove, especially a female tenant. I have lived through this nightmare and going through it again presently. my contracts are very clear (ironclad). but it doesnt matter, tenant laws in GA will always favor over the contract when a tenant expresses her rights have been violated. Your best bet is to address the idea with her directly, in person and express she would be provided a 24 hours notice prior to showings. Provide her some leverage and show her you are open to only showing on weekends or a couple days a week. most tenants will be more open to showing when they feel they have some control. Hope it helps this helped me..

I agree with Christy. Owning property out of state has its own pitfalls. I own one in Florida. out of site out of mind kind of style. check the rent comps in the area, also check for any zoning changes recently, inspection is worth the money for any purchase, validate the property management and contracts. verify what this rental needs (repairs).

Christy Harris

Christy Harris

I am a IT executive for the past 25 years Full time. In my spare time i flip homes and buy and hold homes to rent. I currently own 5 properties, 2 that i lived in for any length of time in Georgia and Florida. Ideally in the future i plan to completely transition to doing this full time, but time will tell. I prefer flipping over keep and hold due to repair costs that creep up like AC failures or roof damage and so on. i seem to have a cloud over my head for AC failures. I am currently in Alabama but will be returning to ATL area with in the next 6 months. I plan to do more flips in GA as the market is fantastic and the available homes for flip are in good supply. i am open to combining efforts with another investor in the future. 

Rashad,

It really depends on the cost of the home you are trying to buy. For example i buy homes at the court house steps for around 25-40k in Atlanta. I pay with cash. rehab costs range from 5k-15k. i have rented them out for a few years to recoup my expenses.It all depends on home costs, locations and what your plans are. Keep and hold is a great source of extra income but there are hard costs that have to be calculated such as older AC, water heater, roof and more. figure out your area, decide on a viable price range. Loans create overhead and fees. i'm more of a cash than a loan guy. but it depends on the cost of the home and how long you expect to carry it.

Snakes are everywhere to scam the money out of our pockets. Keep your wits and questioning nature and they get nothing. Most investors do not make such calls. I personally purchase investment properties with cash only.