All Forum Posts by: Juan M Restrepo

Thank you for the reply Michele. You provided a ton of information. I will check the local tenant laws and also check with General contractor how much more is to split pipes and wires.

Hello everyone, 

I currently live in a single-family home with an unfinished basement. The basement has its own independent exit so no need to interact with the top floors. The plan is to build an In-Law suite and rent a house similar to a duplex. The top and bottom units would have their own laundy. The utilities are NOT separately metered as Is a single-family home. I also live in Johns Creek, Ga. The basement could rent for $1200 without including utilities. 

How would you bill for the utilities?

I can add a premium to the rent, but I have noticed that when tenants do not pay for utilities they do not care about wasting them.

Can you add an additional mailbox to a single-family home? 

Thank you guys for the answers. 

Hi Courtney, I check before buying the property. I am allow to have 4 non related individuals in the house. I guess I can be picky with the potential tenants since is a house hack and well to my knowledge If I am house hacking the fair housing laws are a bit more relax. 

Thanks for the advice. 

Hi guys, I currently bought a property and finally got it rent ready. I currently live in this property in the master bedroom with my significant other. I  have 2 large rooms to spare. I live in Alpharetta, Ga and rent is very high here. I wanted your opinion if you would feel comfortable  renting 2 rooms to 2 individuals during the Covid-19 pandemic ? 

Hi guys,

2019 was my first year owning a rental Property. I Know is a good a idea to get a CPA that specializes in Real Estate. I currently Live in Duluth Georgia. I was wondering if someone knew a good Real Estate CPA around the Atlanta Metro area or could give me an idea how to find  a good one ? 

I do apologize for the header. I meant to write CPA. 

Thank you guys so much for the replies. I think I have an idea of what I am going to do. He gave me his 60 day notice this week. He has been great and the property is great shape. I am just going to ask him to pay the rent for 2 months ( the length of the 60 day notice) and to let me show the property. I will be selling the property right after he leaves. 

Do you think lowering the penalty would be a bad move from my part. He has been a wonderful tenant and I am selling the home once his leased ends (a bit earlier than I expected)?  

Thanks for the reply @Theresa Harris. Let me get this straight. Lets say the tenant gives me the 60 day termination notice on 01/01/2020. I should be expected to get pay for the month of January and February. On top of this I should be getting paid 3 months rent(2 months for the penalty fee and 1 month for the administrative fee). In total from the beginning of the termination to the end (including the regular rent payment for the January and February month) it comes to a total of 5 rent months that need to be paid? 

Hi guys,

I have a rental property with a tenant who wants to break the lease early because they want to buy a home. The property management company who founded me the tenant provided me with a lease and I manage the property. I am trying to understand the early termination penalty.

This is what I get from it (please correct me if I am wrong):

1. A 60 day must be given.

2. The rent for the 2 coming months should be paid.

3. I am assuming the penalty of the 2 months worth of rent is to cover the 60 days for the termination notice.

4. Also another months rent for terminating the lease early.

5. For step 5 I am assuming all the money needs to be send the day of the notice of termination was given? This comes up to a total of 3 months rent when the termination notice is receive?

Hi guys,

I have a rental property with a tenant who wants to break the lease early because they want to buy a home. The property management company who founded me the tenant provided me with a lease and I manage the property. I am trying to understand the early termination penalty.

Thanks for the replies guys, I was just interested as a down payment. To my understanding lenders do not allow to take out a loan to pay your down payment ( defeats the purpose of a down payment). For personal loans some loan officers do not allow that as a down payment. I was wondering if 401k loans were any different.