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Welcome to Central Georgia Realty

Central Georgia Realty is a full-service real estate brokerage and property management firm headquartered in Senoia, GA and serving all of South and North Atlanta. Currently managing over 200 residential properties for individuals, small investors, and institutional investors, we are experts in this part of the state in the property management business. We also offer management services for smaller multi-family properties, up to 30 units.

In addition to property management services, Central Georgia Realty also offers real estate sales. Whether you're a home owner looking to sell your home, an investor looking for great investment opportunities, or a buyer looking for your dream home, we can help you reach your goals.

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Legal Documents

Todd Ortscheid - Thursday, February 26, 2015

One of the most important reasons to hire a professional to manage your properties is the importance of the various legal documents associated with it. Everyone is familiar with leases (although few individual landlords have a good lease form), but there is actually a lot more documents that you really should be familiar with if you're going to manage rental properties. This is just a small sample:

  • Lease Agreement
  • Lead Paint Disclosure (for properties built before 1978)
  • Government's "Protecting Your Family from Lead in Your Home" pamphlet
  • Move-In/Move-Out Inspection Form
  • Amendments
  • Tenant application
  • Credit reporting disclosure
  • Notice to Pay Rent or Quit
  • Tenant Move-Out Statement & Security Deposit Reconciliation
  • Etc.

Failure to use the proper legal documents can land you in hot water. For example, federal law requires that the lead paint disclosure be provided and signed by both parties on any home built prior to 1978, and it has to contain the information required by the government statute. Along with the disclosure, a copy of the government's pamphlet about lead-based paint has to be provided to the tenant.

Other items may not be required by law, but will cause you problems if civil suit is filed. For example, if there are two tenants in the property and one of them leaves, if you don't do an amendment addressing the security deposit, you could end up with a lawsuit disputing who gets the security deposit and when.

The best thing to do is to hire a professional management firm so that these items are taken care of for you. Barring that, you should consult an attorney to make sure that the forms that you're using are sufficient. Give us a call if you'd like to hand over management of your property to a professional team that can take care of everything for you!

Roommates and Security Deposits

Todd Ortscheid - Friday, January 30, 2015

Something that comes up pretty regularly, especially in college communities, is how you're supposed to deal with a security deposit when there are non-married roommates listed on the same lease. It's important to deal with this correctly, otherwise you could end up with legal problems.

Our standard leases (and any decent standard lease form) will state that all tenants are "jointly and severally responsible." What this means in layman's terms is that money that is paid or money that is owed is for all tenants named on the lease, not divided up into equal parts. So if you receive a security deposit for $1,000 from two roommates, it is not $500 from each. It is $1,000 total from both of them. This is an important distinction.

When one roommate moves out, he frequently wants "his half" of the security deposit back. Sorry, but there is no such thing. There is only the one security deposit, and it is not due for disposition until all tenants named on the lease terminate the lease. So if one roommate leaves earlier, then the deposit is not owed to him, in whole or in part. He just has to wait until the termination of the lease.

Alternatively, the roommates could come up with an agreement to deal with the security deposit differently. For example, they may agree that half of the deposit is to be returned to the departing tenant, and the remaining tenant has to replace it. The landlord is under no obligation to do this, however. He may consider it easier than dealing with a fight over the deposit, though.

The best practice is to make sure that you explain all of this up front to the tenants so that there aren't any surprises. They usually don't understand the legal jargon in the lease, or worse, they don't read it at all, so explaining it to them is the smart move to avoid future problems.

If you'd like to just avoid these issues and allow a group of professionals to deal with it for you, give us a call or submit a request for more information on our web site. We would love to assist you with your rental property.

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Central Georgia Realty
42 Main Street Suite 2B
Senoia, GA 30276

(678) 648-1244

Central Georgia Realty, LLC, Property Management, Senoia, GA

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