All Forum Posts by: Tim Coffey

Here is my take, but know I just started mid-October so I am not a pro. I have a 2 BD 1BA apartment over my workshop. While I do not have the beds for a large family or group of friends, my place had been very busy with singles and couples looking to get away by themselves, seeking options other that hotels when in town for work, small gatherings of friends that cannot afford a larger place. 

To me, I have more options and I don't have to wait on a larger group for a payday.

It is also up to how you manage. I self clean and I do not want to clean up after 8 or more folks.

Also, though, location is part of the equation. I am around wedding venues, wineries, hiking trails, mountains, etc. My place would not be a destination for families who want to pool their resources for a larger place where they can stay together.

 I was moved to apartments from cozy. I had 2 rentals, down to 1, and neither me nor my tenants had any issues with the change. 

So I have a SFH home that I leased to 3 adults in one family (mom, dad, adult son), the lease was up in March and I sent them a renewal, but, even though they said they wanted to stay, since covid hit we could not get together to sign the renewal.

Rent has been paid and no concerns on either side has been voiced, but we found out last night that mom and dad have split up and one is in NY and the other is in FL and the only person living there is the adult son.

The signed lease states:

I know GA states landlord is to give 60 day, but does anyone have any experience getting it done sooner with the majority of tenants already gone and a signed lease stating either party can give a 30 day notice?

I understand asking an attorney would be the best option, but I was just wondering if anyone has any experience in this?

Thanks in advance! 

Tim

I have all mine.

I've been using Cozy for a year on 1 property with no issues. I just signed up a second property, getting multiple applicant background checks completed and had no issues getting that up and running and money collected.

The only complaint is I wish I had a better notification that when the lease was up on the first property all the tenant info would disappear and I would have to reinvite them. That just happened and I am playing phone tag trying to get the tenant to re-enroll, which I assume means adding their bank info again?

Atlanta mayor imposed moratorium.

https://twitter.com/KeishaBottoms/status/1239693207899910144?s=19

Anyone else skipping the repost replies to Dan's post? 😉

I just had 3 applicants apply for my SFH. As we all know, it's a pretty big asset and I am not just going to let just anyone rent it.

Anyway, after showing it to one lady she texts me and asked if I would take $150 less in rent. I told her that I have my own financial responsibilities with the house. She then asked if I would take $50 less. I said this is not negotiable, I have too much interest in it anyway.

She applied anyway, along with her boyfriend. I was honest and told everyone that 2 other couples were applying as well. Anyway, she had a bad credit report. I still did due diligence and did a background check on her. The school system said they would send her the verification on their letterhead and she could send it to me. She included her response email to the HR griping about me bothering them with a job verification. Good grief.

Anyway, her boyfriend's job wanted $50 to verify his employment. I told her that I wasn't going to pay it.

In the meantime, I was able to verify another qualified applicant and offered them the house. I emailed the other 2 couples and let the know and she wrote me and said I sure did go thru a lot of trouble just to say no. 

She then texts me an hour later asking if I would take double security to reconsider.

I think I dodged a bullet with that one.

Thank you very much for taking the time to post this information as well as the initial post. It's a very inspiring story! 

"I like to say I am BLESSED." - love it!

Can you add some more info about the Crowdstreet Opportunity Zone? I live outside of Atlanta and didn't know this existed or even what it is.

Congrats on the family first and the investments second!

Thanks for posting your success! It inspires those of us just starting out!