All Forum Posts by: Quynn Costello

Why didn't I think of that?! What a great idea! Thank you so so much

@Bruce Woodruff that is a great point and one of my biggest concerns as well is the difficulty around actually executing on any repercussions. Kinda crappy and makes we wonder what the point of the lease agreement really is if it can't be enforced LOL

@Justin Winn Thank you so much for the response, that was a really great idea to get in touch with a property management company to see if they have any tips! I will definitely look into that. Yeah,being that there is only 2 months left on the lease, I feel that eviction would cause more headaches than help at this point. My biggest fear is simply liability at this point because our insurance does not cover any persons not listed on the lease, and not having repercussions for the tenant violating our contract feels like it opens the door for more liability to us as the landlord. Definitely a tough scenario and just want to stay ahead of it as much as I can so we don't find ourselves in a poor position and wondering "how did we let this happen?"

We have a short term rental property in Columbia, SC where we host traveling professionals for 3 months-1 year on a short term, furnished basis. We currently have a tenant who is in breach of their lease agreement by subletting the apartment without our prior written approval. We have already let him know that this would not be permitted (he did not ask, he just gave us an "FYI" that someone would be staying there in his absence), and today we were made aware that his "friend" has already brought all their stuff and is staying in the apartment while he is away for an extended period. We have cameras on the exterior of the property which is how we know this is happening. Our lease agreement states clear as day that this action is a breach of contract, and it also states that should there be a breach we reserve the right as the landlord to terminate the lease agreement immediately. For safety reasons and insurance purposes, we feel we must act on this and follow through on the termination of the lease as stated, however we are not aware of the eviction process (as we have never gone through it before) and don't know if we would even make any headway on that process before his lease is over. He has approximately 2 months left on his lease with us. 

If any STR landlords out there have experience with this, especially as it pertains to tenant laws in SC, we would greatly appreciate your insight and advice on how you executed this or if we are wasting our time given the short time remaining on lease.

Thank you in advance!

@Hunter Spivey I apologize for not responding to your post. I have not been active on here as much as I would like. PM me if you’d like to still connect.

@Kyle Wood

Hey Kyle! Welcome to Columbia, to both you and your family! I am actually an NY transplant myself, what part of New York are you from?

My girlfriend and I moved out here in January and have absolutely loved it ever since day one. The city is growing like crazy and we are very excited about all the opportunities that exist around every corner here. We currently attend two meetups, REI Live Columbia and REUP, and I can give you more info on how to get connected with those as well if you're interested! My girlfriend and I are always looking to network and meet new people in the area with similar drive and interests as our own, so feel free to PM me if you guys wanna grab dinner/drinks/coffee and talk real estate!

@Jarrid Weber thank you so much! I absolutely will

My partner and I went on an appointment to see a potential deal we would like to fix and flip. The property has been on the market about 4 1/2 months. We saw in the listing that there were currently tenants in the back unit paying $700 a month, which we thought was not a big deal especially if their lease was coming to an end relatively soon. We would simply work on the front house and when the tenant’s lease is up, start on the back unit. When we arrived, we were asking a few questions about the tenants in the back unit, and when we asked how much longer they had on their lease the agent said “Oh, like 10 more months, they just moved in. I put them in there actually and set that up.”

We were kind of taken back by this answer as we have never before heard of an agent putting tenants into a seller’s home while it’s on the market, and are now feeling uneasy about the fact that the tenants still have 10 months left on the lease. This would really drive up our holding costs if we took a year to rehab it entirely, especially since in other circumstances we could probably accomplish this fix and flip in about 3-5 months. Then again, making $700 a month to help with holding costs doesn’t sound too bad either.

Anyone have any similar experiences or any advice to give? Anything is appreciated!

Thanks!

@Blake Brown nice to meet you! Currently we are interested in Cayce (the portion closest to the Congaree River), Forest Acres, Lexington, and Irmo. Would definitely appreciate the opportunity to connect and network with someone of your expertise, so I am sure we will be reaching out very soon!

@Jason Papatryfon thank you so much!