All Forum Posts by: Justin Juhan

Keep in mind, granite needs to be cleaned and sealed at least 2 times/ year especially in a rental to avoid water stains and discoloration. We put in granite in ours but stay on top of re-sealing them bi-annually (usually takes less than 10 minutes during maintenance). I believe Quartz does not need to be sealed but the added cost is not worth it in our properties. 

 This, we do the same (rotated kwikset smartkeys around our properties.) However I never give them either of the actual 2 Originals.

I make 2 copies of the original and the tenant gets the copies. If they don't return one or both it's less than $5 to get 2 new copies made and I would probably take that out of the deposit. I'm at HD all the time so I wouldn't charge for "time". But that's just me

We put something like that in our leases but say "if you renew before your lease is up we wont raise the rent more than 5%"  really just a feel-good line we put in there as incentive to renew early so we know if they don't we will more than likely have a vacancy and can prepare. Nothing says we have to offer a renewal/new lease. Check your local laws

We do a 6 month lease first as a "trial". We do put in our lease/house rules that:

If they renew before their lease is up, we will not increase the rent more than 5% annually. If they do not renew and go month-month rent will automatically increase $xx.  Renew after the lease expires and the rent will be set at market value.

I would probably charge MORE for a 2 year lease. go ahead and increase by 1-2% and tell them that will be fixed for the next 2 years and maybe offer an increase cap after that for peace of mind?

I try to buy ranch style with 3/12 or 4/12 pitched roof for rentals.  All our roofs are 25+ years old. I get on there once a year, push down any raised nail heads and use "roof patch" in a caulk gun around anything that looks iffy or deteriorating. 

My last primary residence the roof was at least 40 years old. Never had an issue. 

My new primary residence roof was 5 years old when we had storm driven rain make it in. 

I've been wrestling with this issue and here are my thoughts NVR in the attic in a steel box. POE cameras with cables coming out of the box to say 4-6 cameras.  All this could be done for ~$500

Problems.

Where to get power from? Our tenants are all separate metered which means technically they would be paying for the electric wherever we tapped in.

Tenant could cut the power to the system. Short term solution. A UPS could be included in the box.

Now onto the larger problem, storage and access.  I say NVR because they are cheap and store local, I couldn't imagine storing 4 cameras worth of video over the internet.. even with just motion record my NAS starts overwriting at 30 days with 3tb harddrives.  That's a LOT of data. + you need to store it on the cloud or on your own NAS.

So we have the data securely stored at the property, how do we access it for review short of going over and physically connecting to it?

Ideas:

Mobile GSM with monthly subscription $$$$

Pay for an internet service and include in the rent $$

Install your own network cables in a way that the tenant must connect the network cable to their router for the internet to work or offer to "set it up for them". (shady)$

knock off a few bucks from the rent so they allow you to connect to their internet. $$

Any other Ideas?  

I may possibly see how the previous LL may have a case to bring but the tenant? I don't see that at all. In Georgia the law clearly says deposit may be withheld for unpaid rent or late fees. The tenant did not pay an entire month of rent. What happens if I return the deposit to the tenant? Then I am liable for the unpaid rent to the previous LL? 

I highly doubt the previous LL has even had a second thought about it, he was eager enough to wash his hands of the property. And the tenant said "he just let us pay whenever we wanted to". 

Again, I reference the addendum, in my way of thinking that closes any discussion because in the addendum any rent received after closing goes to the new owner.... Security deposit withheld for unpaid rent becomes.... Rent.. Received after the closing date.

If a business is sold, do the customers of that business have their account balances wiped or do they pay the "business" aka the new owner?

I disagree with your example, In a contractual agreement its a question of obligation.

In your example, once you sell the property the new owner is not assuming your obligation to pay, they have their own obligation to pay their mortgage company. Whom will make sure title is clear or require it to be before the sale.

The obligation/ability for you to be able to sell the property is between you and your lender and any debts associated. 

With the sale of a rental with a tenant the obligation is between the tenant and the LL via a lease. The lease follows the new property owner why would the obligation not?  

By having an addendum to the purchase agreement that any rents received by the old LL after closing be forwarded to the new LL. I would call that "purchasing" the right to that debt with the purchase of the property.   Would you?

It seems like a loop, even if the tenant paid September to the previous LL after the closing, that would be considered "rents received after closing" No?  Would also love to have an attorney chime in. 

@Anthony Wick

If a bank sells your mortgage and you didn't pay the month before it was sold. Do you still owe that month? Do you owe it to the previous mortgage company or the new one?

Also they didn't pay me from day 1. I had to drive over there and post a 3 day notice on their door. Didn't charge them a late fee, or for the 2 cats they had that weren't on the lease.