All Forum Posts by: Michaela G.

If evictions are on hold until April 1st, then the eviction you started beg. of march should just continue at that time, unless he starts paying rent - which doesn't seem likely, if you filed based on nonpayment. 

The thing is, even if he catches up on rent and is expected to be out by June 1st (make sure you give 60 days notice before end of lease), if he doesn't leave, your only option is to file for eviction for holdover. 

Brian, if you look under forums, you can find a state specific. Go and ask your question there. Start a new post. There will be investors that are more familiar with TN landlord-tenant law. 

Ultimately, I'd definitely recommend talking to an attorney. Since it's the weekend, get some TN investors to chime in

I'm with you! It may sound overly optimistic, but my gut is not really giving me negative vibes. I make most of my big decisions with my intuition. Buy or not buy a house, because it feels or doesn't feel right. Your gut knows. And while everything looks really negative now, I don't feel like it's going to be a prolonged situation. 

Actually, I've had 2 evictions running for a while and the court dates have both been cancelled and not reset. The eviction moratorium goes for every landlord. 

This morning I set down and made a list of all of my mortgage payments and what I can reduce rents to for every property, so, that I can still pay my mortgages and give relief to my tenants. 

I would rather give up my profit for a month or 2, than lose tenants by them either just moving back in to relatives or deciding that they will take the hit of an eviction (they just put in an eviction moratorium in Atlanta) and ride it out as long as they can, which would give me no payment to cover my mortgages. 

It would be hard to fill vacancies right now and I think I'd lose more than just losing 1 month's profit. The rents will be low enough that the expected stimulus payments can help them ride this out for a few months, especially since many of my units have 2 or 3 people. 

And I think in the big picture - it'll come back  in karma in some way. My tenants will be happy with me and it's much easier to do someone wrong, if you feel they've taken advantage of you. And this is a difficult time for everyone.

I've had good results with 'cool'. Either by installing cool/funky lighting, instead of the standard/boring builders grade lights. Not expensive - think IKEA track lights etc. I've often had potential tenants point them out on a walk-through

I woke up this morning with the thought to forego my profit for April. I don't have an expensive lifestyle, no car payment. 

So, I sat down and wrote down all of my mortgage payments and lowered every tenant's rent payment some above my mortgage. Most are getting a $ 300 discount. 

I wrote letters to everyone, that I'm distributing today. 

I know that a lot of my tenants are effected. I have a creative community and many of them have jobs in the serving or entertainment or film industry. Only a few have reached out so far, but some might just break their lease and move in with parents or whatever. 

They've also just set a moratorium on evictions here. So, perfectly responsible people, can be desperate and decide to rather take the eviction hit and hang on as long as they can, because they don't have any income and don't know when this will end. 

Many of my units have housemates, so, if the remaining rent is divided by 2 or 3, the upcoming stimulus payments (they talk about 2 checks of $ 1200 each) might help them stay afloat for a few months and pay rent. Maybe we'll be able to flatten the curve and have a vaccine or pills to cure or whatever. 

So, if I can get my mortgages paid that way and have no vacancies, I'm willing to give some up front and hope for the best. 

I've decided to forego my profit for April and lowered everybody's rent to a point that I can pay all of my mortgages and not have to touch my cash reserves. 

They just started a moratorium on evictions, so I really wouldn't want good tenants decide that they're ok with the eviction, because it's an unusual situation and they can explain it to future landlords (I do think that many landlords, who normally don't accept evictions, will likely be more accepting on evictions in this time period, because all of this was unexpected).

And I don't want them to break the lease and move back in with relatives. It won't be so easy to fill vacancies during all of this uncertainty. 

I don't have a car payments and as long as all of my mortgages are covered, I'd rather give some now .

I am lowering my April rents to just being able to cover all of my mortgages - basically, I'm giving up my profit for April. That's between $ 300 and 500 per unit. 

I figure there'll be stimulus checks coming in and with most of my properties having 2 or 3 people living in it, they will rather use those funds to pay the rents and keep their place, than breaking the lease and moving in with relatives or just not paying, because there's a moratorium on evictions in Atlanta. 

Better to give some now and not have vacancies. 

I feel it's a win/win. I don't have an expensive life-style and don't need much money for myself. And I have 60k in cash reserves and 90k in credit cards, that I could touch, if needed. 

Unless this has changed, they can only collect those liens for 7 years. Wait another year and it will fall off. I've bought many lots with the original demo lien being cancelled, because it's been 7 years. Just like tax liens. They treat them like judgments in Georgia. At least they used to years ago. Haven't dealt with lots in a while.