All Forum Posts by: Laci White

Hi Joshua!

I work with many investors from Bigger Pockets in the Atlanta market and have access to both on and off market properties. I also have a ton of property management experience and offer tenant placement. Feel free to reach out if you need a brain to pick. Happy to answer any questions you may have! :)

Quote from @Avery Moore:

Quote from @Laci White:

A few things here: 

1. The security deposit is not rent. This needs to be held separate and apart from any rent proceeds (typically in an escrow or trust account) until the tenant moves out. No part of the security deposit should be refunded until the tenant moves out. Did the Lemus pay just a security deposit upfront or did they pay some portion of rent in addition to the security deposit?

2. The housing authority is paying rent on behalf of this tenant. Did the housing authority send payment for the full month of rent or did they prorate it? If the housing authority sent the full month's rent, I would let the tenant know that the housing authority sent full payment and deemed no proration was necessary.

3. If this were not a section 8 tenant, you would need to prorate the rent based on the lease start date documented in the lease agreement regardless of possession (unless the lease states otherwise).

4. Since the lease is fully executed, if you do want to return their money and get another tenant, you would need to return the money to Lemus, not to the tenant, as it was not them who paid upfront funds. Also, I would recommend getting from the tenant in writing that they agree to terminate the lease and have you refund upfront funds to Lemus. You'll want to have them sign this document if you decide to terminate. However, it sounds like this can be resolved pretty easily though and I would try to keep the tenant in place.

Hope this helps!

 Sorry for the late response, new laptop, new login.

Thanks for your input.

1. Lemus paid for the security deposit, the tenant paid for half the months rent. 
2. The housing authority did send the rest of the prorated rent, (I didn't expect it)
3. Thanks, I was thinking that would be the proper way if its wasn't. 
4. Everything went smooth, it was also here first time on the program. The housing authority explained all the protocol. There were a lot of scams here so I was just a little skeptical about the Lemus program. Its been 3 months now and everything is great.

Thanks again

Awesome! I'm glad it all worked out!

As a property manager, I would wait until 7/1 to start the eviction process so you can check to see if they have vacated prior to spending the time and money to file an eviction. If you go to do the move out inspection on 7/1 and they are still occupying the home, then start the eviction process and include whatever holdover charges the lease allows for in your petition.

I know everyone is in favor of you starting the eviction process now, but given their move out date is so close, I would wait. You'll kick yourself if you pay to file everything and they actually do move out on 6/30. If they do move out, you can sue for rent in civil court, which moves a lot faster than the magistrate court.

Getting the proper permits is the only way to protect yourself and your asset long term.

A few things here: 

1. The security deposit is not rent. This needs to be held separate and apart from any rent proceeds (typically in an escrow or trust account) until the tenant moves out. No part of the security deposit should be refunded until the tenant moves out. Did the Lemus pay just a security deposit upfront or did they pay some portion of rent in addition to the security deposit?

2. The housing authority is paying rent on behalf of this tenant. Did the housing authority send payment for the full month of rent or did they prorate it? If the housing authority sent the full month's rent, I would let the tenant know that the housing authority sent full payment and deemed no proration was necessary.

3. If this were not a section 8 tenant, you would need to prorate the rent based on the lease start date documented in the lease agreement regardless of possession (unless the lease states otherwise).

4. Since the lease is fully executed, if you do want to return their money and get another tenant, you would need to return the money to Lemus, not to the tenant, as it was not them who paid upfront funds. Also, I would recommend getting from the tenant in writing that they agree to terminate the lease and have you refund upfront funds to Lemus. You'll want to have them sign this document if you decide to terminate. However, it sounds like this can be resolved pretty easily though and I would try to keep the tenant in place.

Hope this helps!

You may have already found an inspector, but if not, try out Noble Property Inspections. They can do pretty much any type of inspection and have engineers on staff.

Hi Nishesh! 

I am very familiar with Atlanta and the surrounding areas. I've worked with many investors both buy and hold and fix & flip. I also have experience screening and placing tenants should you need assistance with that when the time comes.

There are some great duplexes currently on the market in Dekalb, Fulton & Gwinnett Counties. I would love to connect with you outside of BP to send some listings your way. Please feel free to DM me your contact info so we can chat more!

Yes. A lease created through Zillow or even one you write up yourself is legally binding in the state of GA. Just keep in mind that any state or local statutes supersede the lease if they conflict. Hope this helps!

If you're ever looking to utilize an agent again for tenant placement, I'd be more than happy to help with that as well. :)

I’m not an investor (yet) but as an agent and having been in property management for a number of years, I can say that Taccoa’s rental market is pretty cold right now with only a few rentals currently on the market and a median rent price of $1200-$1300/mo. Are you open to other areas where the market may be seeing a little more action?

Some advise I can give if you will be doing fix and flips is to ensure you cultivate relationships with solid contractors. They can make or break your numbers and deadlines.