All Forum Posts by: Albert Muldowney

Tenant screening is one of the most important things in property management. I would be more than happy to assist you with tenant screening. Please feel free to reach out to us at PMI Georgia anytime.

Hey Bigger Pockets Family!

Protecting the value of your property is essential. Here are two reasons why it is a good idea to conduct regular inspections of your rental properties.

#1 Verify that no illegal activity is taking place.

The most common illegal activity in rental properties is the consumption of illicit drugs. As a landlord, you may be under a contractual duty to report the use of illegal drugs. Also, If you are aware of illegal activity taking place in your rental property and do not report it, you could be facing fines and criminal penalties. Your rental property value can drop, as well. For this reason, it is essential to do regular inspections.

#2 Examine the property and see if any repairs or maintenance is necessary.

If your property is not adequately maintained, it could cause harm to a tenant or a tenant's guest and ultimately lessen the property value. There are several things that you should check to make sure that your rental property is staying in ideal condition. When it comes to repairs, here are a few of the most common for rental properties:

• Repainting
• Gutters
• Leaks
• Plastering
• Broken windows
• Minor roof repairs

Similar things are present when it comes to maintenance: weatherproofing, heat, water, electricity, clean premises, etc.

By following simple procedures and conducting a regular inspection can help maintain the value of your property and keep the tenants safe.

What are some other items you would look for during you routine property inspections?

Hey Bigger Pockets Family!

Did you know that 27% of the water used daily in a home is used by the toilet? One of the largest tenant complaints for PMI Georgia is high water bills for an unknown reason. I would say that 8 out of 10 times the cause is a leaking toilet. A leaking toilet can result in thousands of gallons of water loss each month and a hefty increase on the bill. The most interesting part is most water companies will not provide a leak credit if the cause of the high bill is a toilet.

Testing the toilet monthly is a great way to make sure that the fill valve and flush valve on your toilet is in working order. It is an easy and cheap test that could save you tons of money on your bill if it catches an issue before it gets out of hand.

There are a few things to look for to determine if your toilets are having issues without doing a test, do you hear it fill over and over when it hasn’t been flushed? Do you see water movement in the bowl when it has not been flushed in a long time? Maybe you should do a simple test to see if there is a leak.

How to perform a Leak Test:

• Remove the top off the back of your toilet and drop a few drops of food coloring or a no sugar Kool-Aid pack into the water. If you are on a septic tank please be sure that you use only items with nothing that can harm the septic balance. Place the lid back on and wait 10 minutes. Do not flush the toilet, just be patient. After 10 minutes look into the bowl of your toilet and if the color has moved from the tank to the bowl there is a good change that there is a leak. If this happens, we suggest you submit a maintenance request and let them know that there is a leak in your toilet. The insides of the toilet can easily be replaced to stop the leak and bring your bill back to normal.

Good Morning Everyone

As a buy and hold real-estate investor, you will more than likely find yourself needing the services of a professional property management company. The decision on who will be managing your asset will matter just as much (if not more) than the property you decide to invest in. Most real-estate markets that have attractive opportunities for investors will have multiple property management companies to choose from that service that area. This can be very intimidating especially if you are investing in a new market that you are not very familiar with. So how do you know which property management company will be right for you & your asset(s)?

1. Value of Services Offered: As an investor you are always looking to acquire assets of value. That should continue during your search for a property manager. Remember value does not mean the cheapest it means the regard that something is held to deserve; the importance, worth, or usefulness of something.
2. The Screening of Prospective Tenants: Who the property management company places in your home is the most important job they will have. You should feel confident that this is as important to them as it is to you! Make sure you ask what their screening criteria is, as well as what there process is for verifying the data they receive from applicants.
3. Transparency: No one likes to be left in the dark, especially with one of there most expensive assets. You need to have a clear understanding of all fees, charges, timelines, & process associated with the services to be performed at your property. Be sure to express your expectations of them as your property managers, and also ask what your obligations will be as their client.
4. Do your Due Diligence: You are not going to want to repeat this process with the same asset every year are you? Doing your due diligence and making sure the company you choose is a good fit will be well worth it. Ask for referrals, how many doors they manage, how long they have been in business, etcetera. The more questions you ask, the more data you will have for your decision making process.