All Forum Posts by: Elizabeth V.

Welcome! I'm a newcomer in Georgia, too. I sent you a contact request. :)

There are lots of reasons why people would want to find a place sight unseen, and many who wouldn't be able to use Airbnb. Case in point: A friend of mine has four children and was moving cross country. There was no way he could move everyone (and all their stuff), and have a family of six temporarily in an Airbnb. They didn't have the budget to pay their mortgage while looking for a place, either. They found a place to rent sight unseen, then rented out their home, and moved cross country. They figured if it didn't work out, they'd move when the lease was up. They absolutely LOVE their new place, and keep it neat and clean. It worked out for everyone (fortunately).

Originally posted by @Steve Babiak:

An out of area tenant can temporarily "settle in" by getting accommodations via Airbnb 

Hello! I have an investment property in Athens, Georgia, where the tenant consistently pays rent late. In the lease there was a 5-day "grace period." Even with a generous grace period, although the tenant is current on rent, there are late fees from 3 months' rent on her balance. 

I am tired of her taking advantage of the grace period, so I am changing her lease to longer have this provision. Late fees will be charged the day after rent is due. For any new tenant I allow one grace period of five days per year. I've structured the late fee to be $25 on the first day, and $10 each additional day to encourage her to pay rent as soon as possible when it is late. 

I'm wondering if I could have a late fee on the late fees, such as $5 fee per day until ALL late fees have been paid in full. I want to discourage the tenant from not paying the fees. I haven't found any examples of late fees for late fees in other leases, but it does seem like in Georgia as long as it's in the lease, it's enforceable.

Does anyone have any thoughts or experiences they can share? Perhaps other strategies to get tenants to settle their late fees?

I just signed some tenants that are renting site unseen, but here's what we did: 1. a family member came to "scout" the place and did a facetime tour. 2. I spoke on the phone with them and made sure that they were going to be okay with renting a place without having seen it, and emphasized that they were taking a risk. 3. I put a provision in the lease that they were accepting the property AS IS, and put in a penalty of paying two months rent if they decided to move before the lease was up. 4. I checked the references (I know you should always do that), and the personal references were impeccable. 

I met the woman in person after the lease was signed and they gave the deposit and first months' rent. We'll see how it goes, but so far so good. 

Apart from the vagueness, I would suggest that you have as part of the scope of work daily email check-ins where the PM states what has been accomplished that day, any problems they ran into, and what they plan on working on the following day. If you're particular about anything, have them send photos and videos of progress periodically. It's amazing how many things can go wrong, and how many things even very reputable contractors forget (even if it's in writing). Good luck!

Just to make things 100% clear, I have a provision in my lease stating that the Landlord is not liable for any of the tenant's personal property, and strongly suggest they have renter's insurance. It may be a good idea to update the lease for your next tenant, so that the next tenant won't be encouraged to engage in any shenanigans accusing a plumber of theft and trying to drag you into it (or, if they do, you can calmly point to the lease and wish them good luck). I agree with the other posters that the most you can do is supply the plumbing company name and leave the two parties to sort it out. 

In case it's helpful, below is what I put in the lease:
Property Loss, Insurance, and Crime
Landlord and the property owner shall not be liable for damage, theft, vandalism, or other loss of any kind to Tenant’s or his occupant’s personal property, unless such is due to Landlord’s negligence or intentional misconduct. Landlord and the property owner shall not be liable to Tenant for crimes, injuries, loss, or damage due to criminal acts of other parties.

Indemnification 
Tenant agrees to indemnify, defend, and hold harmless the property owner and Landlord for any loss the property owner or Landlord incur due to Tenant’s breach of this agreement or due to the acts and omissions of Tenant and Tenant’s occupants, family, social guests, or invitees.

Insurance
Landlord strongly recommends Tenant purchases their own renters insurance policy. It is important to understand that any items Tenant takes into the property are their responsibility to protect. Tenants having their contents damaged due to fire, flood, burglary, or other insured perils, may be left with the cost of replacing all the lost items out of their own pocket. The Landlord shall not be liable for any damage to Tenant’s personal property arising from criminal acts, fire, storm, flood, rain or wind damage, acts of negligence of any person whomsoever, or from the bursting or leaking of water pipes

In order to be compensated for any items you lose from a fire, storm or other catastrophe, make sure you inventory all your personal belongings. You should take a photo and list each item, its value, and serial number. You are also recommended to keep receipts for major items in a fireproof place.

Hi Chandra! Firstly, I'm so sorry for your terrible experience. I'm sure that your being in Wisconsin made it very difficult to keep tabs on your Georgia property.

Secondly, it got me thinking if there's a way for BPer to help out their long-distance landlord brethren. For example, maybe landlord that is local to your property's area could do a "check in" on your property—kind of a check in on the property managers — and take pictures of the property, or report anything noticeable so you have a head's up if things are going south? You could even have an agreed upon checklist (carpets clean, no holes in the walls larger than a dime, all fixtures work...) to make sure that both parties understand what kinds of things you're looking for. 

I know this is idea could be rife with problems, but a fellow landlord who doesn't have an incentive to hide problems may be a good resource to act as a second pair of eyes for you. 

Hi @Nick Brubaker I have used him for real estate taxes, but bear in mind I only have two investment properties, so I don't know whether or not he caters to larger real estate investors, or if he'd be a good fit for your particular needs. But I thought he'd be worth checking out. 

Hello! I'm a graphic designer based in Athens, Georgia. I started as a reluctant landlord with one rental home in Atlanta, Georgia about five years ago. After a couple of years of successful management of the one property, my husband and I bought an investment condo in Athens, Georgia with really no knowledge about finding deals or running numbers. We knew it would be cash positive, and that's about it. 

I've been devouring BP podcasts of late (listening in order, and now I'm on show 45), and am looking to be a more serious investor. Right now my goal is to purchase one property per year, and would prefer to begin my search in Georgia.

Any tips about good markets/neighborhoods to look into are most appreciated. 

In the meantime, I'm wondering if I should try out hard money lending while I'm getting my investment bearings. Thoughts?

Thanks y'all!