All Forum Posts by: Andrea Hardaway

I use TenantCloud for my self-managed properties.  No issues with it so far and it's very affordable

For my self-managed properties, I use TenantCloud.  It's pretty intuitive and very reasonably priced.  

I had a similar property (commercial, 6k da ft, 3 office spaces).  I self-managed the property.

I prefer NNN leases. I find them easiest to manage. NNN ensures property expenses are covered, It reduces risks associated with managing the asset. If expenses increase (for example, I had a tax reassessment done on the property that resulted in an increase). Because I used a NNN lease where tenants paid for their pro rata share of association dues, taxes, and insurance….. The increases in taxes did not negatively impact the financial performance of the property.

One warning about triple net leases.  One of the biggest missteps that landlords make is estimating triple net expenses at the beginning of the lease but never going back to reconcile those expenses. In many cases, you will find that your tenant has likely underpaid in comparison to the actuals. In those instances, you should be invoicing your tenant for the difference. In some instances, the tenant may have over paid and that can be applied as a credit going forward. 

No sure what co-insured is. However, it is common to add the PMC as “additional insured”.  This ensures that any liability claims that arise while the property is under management are undeniably covered by your policy.

We use CredHub.  It's been great so far.  https://credhub.com/property-m...

We report payment history to all 3 credit bureaus as a part of our Resident Benefits Package (which tenants pay for).  We report on-time payments (good credit indicators) as well as delinquencies. This is the service we use and we are very happy with it. 

https://credhub.com/property-m...

Renter's insurance (which they should have) may cover the cost of food.  

If you are looking for a system approach for a single unit, I'd consider looking into TenantCloud.  They have a free tier that may meet your needs. 

https://www.tenantcloud.com/pr...

Nice!!!! Congrats on this.  Your story has me motivated!

Nice!!!! Congrats!