All Forum Posts by: Abdul Azeez

Folks - I have decided to sell this property. It is a good rental income property. Can anyone suggest a good agent for this?

Can any of you private message me with a good realtor who can sell my property?

I have a property in Memphis, TN managed by a Property Manager. The last several months there have been one repair after another. I raised a red flag to the property manager due to these recurring expenses for fixing this or fixing that. On Nov 1, there was a $235 bill (on top of other bills in hundred over the previous months) for a plumbing issue and now the latest bill for $1260 for doing some major flooring work in the bathroom. When I pushed back hard the PM had someone inspect the damages and has concluded that of the $235, $110 can be charged back to the tenant and they have also made a determination that the tenant owes the $1260. However they are asking me to front the payment with the balance going on the tenant's ledger. 

The tenant is leaving at the end of this month and has only a $1025 security deposit. The PM is telling me that they will inspect the property when the tenant leaves and any damages assessed over normal wear and tear will make it to the tenant ledger. My concern is that since they only have a $1025 security deposit, I would be able to recover only part of my costs. When I asked this, the PM is saying that if its just a matter of $300-$400 I should just forget it and its not worthwhile hiring an attorney unless damages exceed $1500. I have also paid an annual $75 inspection fee to the PM last month. My questions are:

1. Do I need to front the payment with the kind of explanation provided above where I will still not be made whole when the tenant leaves?

2. Should PM take some accountability for the annual inspection fee being charged and have uncovered these kind of tenant issues?

3. What is my best course of action as the PM says the repair has to be done now?

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My investment property at memphis, tn is at 5pct 30 year rate. Am I able to refinance to a lower rate without closing costs since it's an investment property? Please PM me any recommendations for lenders

I have an investment property in Memphis, TN that I would like to sell. The property has been rented and has a good positive cash flow. I would like to get a fair market value. I talked to the selling division of my property management company and the prices I seem to have received for recommended listing and selling seems to be far below what I see in the area. You don't need to give me any realtor references on a public forum. May I request any suggestions / recommendations on a private message if that makes sense?

I have a property manager managing my rental in Memphis, TN. There was a pipe burst which was fixed by the management firm for which I was charged. There was a charge for drywall repair that has not been done. However, since tenant missed the appointment when the person from the property management company was sent to repair the drywall, the management company is charging $65 for a missed appointment. However, they have added the $65 to my ledger and are telling me that I will be reimbursed when that fee is paid by the tenant.

Now, this does not look right for me as I live in NJ and the property is in Memphis, TN and property manager is in the same location. How is it fair that my ledger has an addition for tenant missing an appointment? When I expressed my concern to the property management company, they are saying it is standard operating procedure. What I wanted to avoid was posting here. When I specifically asked them if they would like me to find out if this is standard operating procedure, they asked me to do so as they believe it is. Can someone clarify?

Hello Folks - Are any investors able to recommend good property management firms in Memphis, TN that are good from the perspective of minimizing vacancy, finding good tenants, are taking investors who have single family rentals and are responsive to concerns? Please private message me if you cannot post here.

Folks - Just wanted to understand (from investors), who you have successfully used for Property Management in Memphis, TN for single family properties that have been good from a perspective of minimizing vacancy, doing a good job in renting out your property quickly, reachable when needed and that don't suddently have adhoc expenses. Feel free to either reply or private message me.

If anyone has Mr. Reedy's email address, can you please private message to me?