All Forum Posts by: Mark Graffagnino

You can also check out rented.com.  My understanding is they connect you with a property manager that will buy the whole year from you and handle everything.

Like @Alan G. I use the Kwikset Smartkey.  Rekeying takes about a minute without having to remove anything off the door.

In Atlanta  I get first month and security deposit prior to move-in.

I'm a CM in my full time job also.  I think a lot of the skills are transferable to landlording, PM and flips.

Good luck.

State Farm will insure under an LLC.

Rather than perpetuate this nonsense, I'll just say good luck.  We all need to do things the way that works best for us, and I'll continue to manage my properties like a business.  For what it's worth, I've evicted tenants, taken tenants to court and garnished their wages when they tried to skip out without paying.  Never have had a tenant even raise their voice to me.   Guess I need to work on that landlord skill set.

@Thomas S. your perception has nothing to do with reality.  I run a business and treat it like a business.  The main reason landlords fail is they don't treat it like a business.  Stop trying to assign personal feelings to business decisions.

I'm getting a kick out of a lot of these replies.  Obviously each landlord needs to manage the tenant relationship in the way that is most comfortable to them.  From the PM perspective, it has nothing to do with being afraid of tenants or not being the bad guy.  It comes down to whether you want to have a business relationship with your tenants or a personal relationship.

My tenants don't know if I'm single, married, have any kids, anything about me personally.  Why would they need to?  The conversation never goes there.  I want them to look at me like they do the utility company.  

I use my own management company (separate LLC from landlord) to manage my properties, so I am the PM. I sign the lease as the PM. Rent is made out to the management company.

I just prefer to present a professional business appearance so they know they are dealing with a business and not somebody who works full time and manages his properties in his spare time.  I also have an **AWESOME** assistant (who I met through BP) who takes all the resident calls, requests and proactively touches base with them, giving an even more professional appearance to the management company.  And we take care of any maintenance requests ASAP, so they know they are being professionally managed.

I've had to go to court with two tenants and in Fulton County and Cobb County you can only charge a max 10% late fee.  My lease has a 5% fee after the 5th, additional 10% after the 10th plus $5 per day.  The judge only awarded me the 10%.  

That's if it goes to court.  I have one current tenant who has been late and pays the 5% and 10% if she goes past the 10th.  I guess if I ever have to take her to court I'd have to credit back the 5%.

Kevin,

You may want to look into a conservation easement, which may provide tax benefits to the owners.

https://glcp.georgia.gov/conservation-easements

I grew up on Long Island (Lynbrook) and have lived in Atlanta since 1980.

Good luck with your property. 

Mark