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All Forum Posts by: Account Closed

Account Closed has started 0 posts and replied 35 times.

Post: Home insurance for a rental property

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25

Key word: shop around

I have Allstate and the rate is the lowest for me. 

Strangely when I refer allstate to my clients they said it's expensive so I don't know how the rate works. 

I don't like Reiguard.com

I just had experience filing claim with them the whole process took about 2 months. 

After they approved the claim it took them 30 days to mail the check. 

I don't file claim much so I am not sure if this is normal but I wasn't happy with the whole claiming process. 

Post: Carpet and painting

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25

Generally speaking you really don't need to repaint all walls, unless the color is outdated. Paint last a long time, between tenant you just need touch up.

Not a fan of carpet at all for rental. Change to vinyl floor flank. Unlike owner occupant home with rental you have changes in occupant regularly so it's just to dirty using used carpet from previous tenant. You never know how people live.

General issue area that I've seen:

- Gutters (usually clogged or loose)

- Windows (won't open and close)

- Door seals (worn out seals, you can see day light)

- HVAC check regularly

- Vent (dirty)

- Under the sink (check for leaks)

- Grout (in bathrooms, sometime need to regrout)

- Caulk (worn out caulk)

- Garbage disposal (rusted, leak or just not working)

- Dyer vent (lint could be build up cause fire. the early sign is if clothes not drying properly)

- Outdoor trims (usually wood rotten) see if it's need to be paint

- bushes or tree too close to the house may need to be remove (roots issue, foundation crack, could be driveway crack too)

- wood decking or steps (if you don't seal it, could rotting in faster rate)

- smoke detector (old, need replace)

- etc (BP member feel free to add) 

Post: First lawsuit from tenant. Please advice...

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25

Sounds like my previous tenant from last year. Remind me of a saying I heard from Jim Rohn.

"There are only a few of bad people but they move around"

Anyway In our case:

The tenant move in, did a move in inspection a couple days later starting to send me a message with all the things wrong with the house and said it's unhabitalbe.

example:

They found ants around the kitchen sink (the house has pest control and we did send the guy to treat the ants)

She claim the house is not clean (we hire cleaning lady prior her move in and at the time of inspection it was fine, she is expecting spotless clean)

Demand to replace master bedroom door (it was French door with no privacy lock original from builder) so we replace with regular door and add locks

Front foyer wood floor has wear and tear but the rest of the house is fine.

and a bunch of other things.

Sure, her claim is letigimate but is the way she demand and treat that shows you can't be reasonable with this kind of people. and really it's better to cut the losses then having tenant like this.

This is a nice home in nice neighborhood but it is build in 90's so you can't expect it to be perfect.

Anyway, she treat to sue and ask for moving cost, stress, etc.

I suggest my client to have an attorney handle this as precoutions. The attorney did confirm that if she ever go to court from what we provide him we have a high chance of winning. But I recommend my client to just cut his looses and offer the deposit back.

The attorney then send her a letter giving her option to go to court but the prevailing party will pay for the fees or just settled and terminate the contract mutually and refund the deposit.

Thankfully she choose termination went to the attorney office and pick up her deposit after signing the document.

Now we have a nice tenant who always pay on time.

I wish there is a way to check for difficult tenant because credit check doesn't give that kind of information.  We did rental verification but obviously the previous landlord lied probably they can't wait to get rid of her either.

Good Luck with yours, my only advise is hire an attorney ASAP. she already lawyer up, you should too.

Post: Looking for advice getting rid of smoke smell

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25
Home Depot sell ZEP smoke odor eliminator. Works great for smoke. Only $5

Post: Title Insurance: do you need title insurance on a BRRR

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25
Yes, Definitely purchase one. Just because it's clear now, it doesn't mean there is pending lien against the property.

Post: Investor Friendly Realtor with NAID Number in Fulton or Dekalb

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25
I have NAID, call me tomorrow to discuss.

Post: fixing leaking tank - toilet

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25

Hi Robert, 

I used that epoxy before to patch cracked white sink. It works great. 

But since you mentioned the washer that leaks this epoxy will not help you. You still have to deal with leaky washer. You need to replace the bolt and washer. 

If home Depot doesn't have it check your local plumbing supply store. 

Since you mentioned you can't afford new toilet this will be the cheapest way. 

After that budget for new toilet. Home Depot have some under $100 I had installed a few of them and so far now complain.

Post: 1/3 owners of a property unwilling to sell

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25
Depends how they take the title and the agreements they have between owners. If you can't get the 1 owner to agree.. you may consider to walk away. Some deal are not worth the headache. Could be potential law suit from that 1 owner if you move forward.

Post: Tenants are chronic late-payers

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25
Based on my experience tenants pay habits is hard to fixed. You can either: 1. Find away to be content with the additional late fees. It's not such a bad thing. or 2. Terminate the lease 3. Evicts Sending them notices doesn't work either if you never follow thru with the action.

Post: Should I keep my house?

Account ClosedPosted
  • Property Management
  • Marietta, GA
  • Posts 45
  • Votes 25
I would refi current home and purchase the new home with the cash from it. You can even process is at the same time and close on both at the same day. Since you want to be in rental world this will be your best route for now in my opinion. Because in the long. run having fixed rate is better than equity loan (fluctuate) rate is still low now so take advantage. Once you finish with the renovation of the new home get home equity on that.