All Forum Posts by: Pavan Iyer

@Steve K. Makes sense. I did see in the lease that the owner must contact their lender to inform them it is personally property as well. It is all interesting to me because I recently saw a similar type of program for backyard homes in Portland (company is called Dweller) where they lease the backyard and build a small rental unit in the back (homeowner gets a monthly check, buyout clause is there, 25 year lease). I had the exact same questions about that and it seems as though the answers would be somewhat similar to how solar leasing may be done. They do prefab homes, so I assume it's because they can remove it (though it is affixed to a permanent foundation), though it sounds like a refi would be a huge hassle in that type of situation.

I'll definitely take a closer look into Georgia's rules. In general, we are not great for solar, but I do know that Tesla may be getting into the market, so that may end up being an option.

Thanks again!

@Steve K. great info Steve! I'm actually going to read through that lease to get a more detailed understanding, and I really appreciate your thoughtful response. I find the whole deal interesting as I would also think that, if the homeowner still on a mortgage, and they leased, say, part of their backyard to the solar company (maybe roof was not structurally sound, but plenty of southerly yard), it would trigger something like a due on sale clause, as the homeowner has given up part interest in their property, correct? I guess that's why I thought that for such a lease to work, you would have to get the lender signed on the agreement as well.

I also see that there seems to be an option for the homeowner to purchase the lease at what I would guess is some sort of amortized schedule. Would this also trigger an additional price in the case of a sale? As in, does the next owner either buy out the lease or the lease just transfers?

@Steve K. sorry I know this thread is a couple months old, but I was wondering, in the case where a homeowner is leasing their roof to a solar company, what happens in the case of a homeowner default? This is conjecture, but does the solar company sign the lease with the bank AND the homeowner? Especially if it is not the roof, but the backyard or something as I've seen some programs do. And I assume if the solar company defaults, the homeowner gets free panels?

Hey guys, my name is Pavan Iyer and I am recently graduated from Georgia Tech with a BS in architecture.  I am currently working in San Antonio for Lake Flato Architects and hope to bring back a lot of experience to start having an impact in Atlanta's built environment.