All Forum Posts by: Michael Radney

Avail has been great for me.  They have a free subscription option but realistically, to use all the site's functionality, it's $5/mo per property, which is very reasonable and includes unlimited electronic payments.  Easy to use property advertising, customizable lease templates, customer service is fantastic, responsive and you get to talk to actual humans (super polite and well informed). 

Cons?  They don't have an app but I still login to their site from my phone, it's just not mobile-optimized.  They also don't offer accounting or vendor payment options.  I use Quicken for accounting, so what Avail offers works fine for my needs.

Other than that, it covers all the bases for a landlord with a small portfolio.

I'm not a landscaper but I've done a few major landscaping jobs after renovating properties.  Tilling can work but it will spread old weed seeds like @Julie Hartman said.  When you till that deep, you'll have to level and re-flatten it with something like a drum roller or else the soil with settle unevenly after it rains a few times.  If the backyard is all weeds, personally I'd just apply glyphosate to the woody stems while freshly cut and the rest of the yard.  I'd come back in two weeks and, if needed, respray any areas that still showed growth.  I try to avoid using glyphosate when possible but sometimes I find it's still the best thing for pressing reset on a yard.  

Four weeks after the last glyphosate application, I'd clear all the dead vegetation.  If you can get a skidsteer in that backyard, I'd rent one and a Harley rake (it'll pull up the weeds, till the top few inches and rough level the topsoil).  Then hand rake it to even the topsoil out and remove any remaining debris.  Reseed with lime and fertilizer.  Top dress your seeds with some straw or peat moss. 

Hi folks, I have decent experience renting property but not much in Virginia. I'm looking for a good attorney in Richmond who's primary focus is the residential landlord; someone who's practice is geared more towards day-to-day management (lease language, compliance, housing choice voucher program, handle evictions if I'm busy, collections, etc).

I don't have any outstanding problems or issues but I'd like to see if I need to update any of my docs or the way I'm managing before taking on more tenants.  Thanks for any suggestions.

Quote from @Nick D.:

Have a house under contract and Seller has medical & credit card liens against the property. Can someone help break down the steps as to confirming the all of the liens against the properties 

Also when i call to negotiate these liens, does the seller need to be on the phone or can I get a power of attorney notice and do this.

I know the liens in second position on a preforclosure property can be handled, Im just unsure of the steps needed and who I need to call for each of these liens.

You can have a title company perform a search for a nominal fee.  If you do buy with a warranty deed as mentioned above, a title abstract search is included as a component of the title binder.

@Kara Johnson

I've never used a master lease.  I've used both limited and general POAs for typical residential real estate transactions (purchases, renovation, refinancing).  I haven't used one to extend management authority to others because I haven't run across a scenario where I needed it (yet).

I could be wrong but I believe John was providing you two separate options for stepping back from management. 

A master lease gives you stable income from one tenant while relieving you of the STR management stress.  It would be the tenant's responsibility to rent the property as a short term rental.  This option avoids giving another party authority to finance or sell your property.  

A limited POA would give another party agency to handle the STR management in clearly defined, limited instances.

I was going to say the same thing as John in that I'd consider a limited POA written to give precisely enough authority to accomplish what you need. Cheaper and simpler than a trust. I also wouldn't let anyone else be responsible for servicing my debt...too risky.

Matt, thanks much for the reply. I'm hoping to maybe find a local bank in Richmond offering a portfolio loan with more leeway regarding the type of POA used. I've tried a few real estate attorneys without much success but I'll keep searching, as they usually have pretty grounded, practical advice.

I'll go back to the well with estate attorneys too.  They haven't been much help to-date but it's definitely all about finding the right one.

Hi folks, I've searched around but haven't seen a solution for this particular question.  I'm POA for a family member who has dementia.  I've addressed everything else in his life and now I'm down to his real estate.  I'd like to refi and fully renovate a paid-in-full duplex he owns in Richmond, VA.  I'd move him in one unit and rent out the second one.  I'd prefer to use Fannie Mae's HomeStyle loan if at all possible.

I've been involved in a few real estate transactions over the years and I already know a lender underwriting a Fannie/Freddie product is going to issue a conditional approval requiring a specific, limited, real estate POA but my family member is no longer able to sign one.

Before I go down the path towards having his credit pulled, does anyone have a solution for this roadblock?