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All Forum Posts by: Matt Sicignano

Matt Sicignano has started 3 posts and replied 92 times.

Post: Tenant asking to leave month to month lease early

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

Georgia tenant law quoted here: I would cover myself with a suit for an eviction, which would allow me to get a monetary judgment (more important than the eviction) if she is served with the paperwork ( tack and mail doesn't allow us here to get a monetary judgment) . Advantage, you're protected legally, you have an address to serve paperwork, you probably will get a legal and enforceable monetary judgment that you can use to collect or garnish, and you don't have to go to the trouble of finding the tenant after they disappear. I would tell her in advance that you will be filing an eviction to protect yourself legally, (so she doesn't get offended, and possibly  add more problems out of spite) and try to get a written statement stating that she is waiving the 30 day notice (30 day month to month termination in Maryland unless rent is delinquent-please verify!)

Post: Electronic Payments for Rent ....Pro's / Con's

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

Cozy is a new startup out of the west coast that is very promising. It's easy and fast for all parties and best of all, it's free. They have a suite of services that will be instituted soon that looks very useful. Sparkrent is no more, by the way.

Don't get too complicated otherwise you'll just create another job for yourself! Also GREAT tip from Drew!

Originally posted by @Drew Wiard:

HEY EVERYONE....something import that you should keep in mind:

Disclaimer - my info is based off my experience in Indiana.  Check your state.

You MUST have a way to prevent your tenants from making partial payments! 

Post: Applicant Owes Money to Former Property Manager

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

Of course that's not an acceptable tenant-you already know that. But as far as all the various  formulas, scores, metrics, judgment calls, and other methods of trying to fit someone in a category goes; the ONLY thing I care about is whether I'll get paid. And in the case of landlord/tenant relations , past performance is a good indicator of future behavior. There is no other indicator that will predict behavior, in my opinion. Not always, but enough so that the risk is not worth it for me. As far as any other screening methods, you can't predict the future. I've had "perfect" candidates screw me-after all, it has to start somewhere, right? I would even take your situation another step-I'd contact the landlord with the address and contact info of the deadbeat, and hope that if you ever got stuck holding the bag, someone would do the same for you.

Post: Finding Someone Who Owes You Money

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

How about the closing attorney? Maybe they would be of help.

Here's a problem I've found with multi-state responses to specific state law questions-sometimes they are not accurate! And usually no one verifies the information in question with your applicable state law. For instance, there have been some  responses stating that (to paraphrase ) "you can be liable for double or triple the damages should a judge rule against you", implying that if you make a mistake in the interpretation of the deposit, you could be on the hook for much more than the amount of the deposit. Well , in Georgia, that's completely wrong! Those penalties come from not giving an accounting of the deductions( if any, or the failure to return) in a timely matter. A judge, if it goes to court, will rule on the applicability of the deductions, but you won't be penalized above and beyond the deduction it the ruling goes against you by a good faith interpretation of the allowable deduction. (This has happened to me in court-my judgment was reduced by just that amount) Now, is this just applicable to Georgia, or is it a multistate interpretation? I have no idea!  That's why the responses should be a starting point, and all information should be verified by your local statutes.

Mike, let me see if I can sum up your questions;

1-you have damages that exceed the security deposit, can I collect the difference?

2-your tenants failed to follow lease stipulations regarding showings and access; can I make a charge against the  security deposit for breach?

3-I failed to include monetary damages for the failure to allow access to show, instead calling for a 'forfeiture of lease", can I now backtrack and use the security deposit for that?

In my state the answer is simple; 1 is a yes, 2 is a yes, if damages are stipulated and agreed to, and 3 is a NO! You already stipulated that the lease is "forfeited" (whatever that means) and now can't arbitrarily collect on monetary damages. You may have been unclear on that point in your post, but I have to question the language. Typically, you need to show the property when the tenant is moving out-so why would you put a penalty in that is moot? They are already leaving, so 'forfeiting " the lease is useless as an enforcement.

However, you can ask for anything in your suit for judgement, if the defendants don't answer, you have a default judgement; the validity of the claims is no longer able to be challenged. If they do answer, let the judge decide.

Post: How can I get my rent payment?

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

Don't dismiss the power of a garnishment or judgment. And a pox on all those landlords who say "don't bother with court-you won't collect"! Its still the best way to collectively notify the world of a deadbeat. You have the best weapon in the world to collect-you know where the person works! But you have to have a judgement in order to collect. In Georgia it's fairly easy to file a garnishment-one caveat is to make sure you serve it to the right entity. For example, if they work at "Joes Restaurant" at 123 Main St, and you have it served there, but the corporate entity Is "Joes Inc." at another address, they can have it quashed. A simple check of the states DBA or corporate filings will tell you the correct entity. As a bonus-if the employer does not answer or garnish-they owe the tab, and can dun the employee-I just collected my judgment amount IN FULL from the employer!

Post: WilliamPaid.com Online Rent Review - Bad

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

I think the only way you can say Williampaid is great is if you've never tried anything else.  Verifying detail, whatever that means, may be useful. But I much prefer the more intuitive interfaces on just about everyone else.  Getting an generic email that you have a rent payment initiated is OK if you have one property, but  it's a confusing nightmare trying to find out which of your multiple properties is credited. Its unbelievably frustrating! From my experience, it's an overly complicated dashboard that puts everything useful in a difficult to find set up. Not user friendly at all. And very condescending service. You'll also wait a long time for your money. I was amazed when I tested some of the others. It was like going from hot dogs to filet mignon. In fact, I can't even recommend any specific other service, they all are head and shoulders above Williampaid. It would just come down to which of the other unique features in other services you would use. Williampaid has no unique features.

Post: Selling Privately Held Mortgage

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

I have corresponded with them in the past. They are a large buyer of seller financed notes, and I spoke with a rep on the phone quite a few times.  They will discount the note heavily though! If you haven't  gotten that far with them, you might want to find out what the offer is before you spend anymore time.  I did not proceed with the transaction, as the numbers didn't work out for me.

Post: Reasonable wear and tear

Matt SicignanoPosted
  • Investor
  • Smyrna, GA
  • Posts 96
  • Votes 72

I would say that white spackle does not in anyway count as normal wear and tear! That being said, the pet odor is a sticky issue. It normally would not be considered "normal wear and tear" and thus you would not depreciate the carpet, but since you did have a non-refundable "pet deposit" you may have let them off the hook. Some courts have interpreted  the inclusion of a  'pet deposit" to be the sole remedy for the landlord! It really depends on the language and the state statutes.  You might want to check with a certified carpet specialist. I'm not sure if you're using "steam cleaners" generically, but I have found those to be the cheapest and most ineffective methods. I have had luck with technicians that use enzyme cleaners.