All Forum Posts by: Anand S.

Update - I was unable to switch the property manager because they say I have to pay them the management fees for the next 10 months which is the remainder of the contract which auto-renewed for another year (I was not aware). I am losing a lot of money every month on this - 3 eviction candidates out of 5 tenants placed by them in the last 5-6 months. When I visited the properties, it seemed really scary - the quality of tenants placed was very sketchy. Any advise on how to deal with this? 

Thanks a lot. I will reach out. 

Thanks @Nathan Gesner for the pointers... I will check out the listings... The problem I see is that I am doing most of the management for the PMs and the ball gets dropped on many issues, unless I remember to follow up. Examples will include follow-up on maintenance requests, rent collections, unauthorized repairs, eviction notices etc. I do pay 8% and I am not necessarily looking for a cheaper option - but someone who can provide a good first hand PM referral will be worth its weight in gold at this point. 

These are small multifamilies/duplexes around Mt.Oliver area/Carrick in Pittsburgh

Reviving this thread - Michael, curious to know who you ended up selecting and what is your feedback? 

Hello

I am an OOS investor and seeking a recommendation for a good property management company. I am looking to switch from my current property manager. It has been a year and we have not made any money on these properties either because the tenants they have placed don't pay on time, go through eviction or there are repairs with huge bills, some of which don't get our approval. The communication and follow-up is also very poor. Any good recommendation is sincerely appreciated. 

 That would have been my expectation as well. Thanks for validating that, Alex. 

Thanks Chris, Ned. Really appreciate your response. This is a 4 unit property and priced less than $400k. To quote the agent and his brokerage attorney - they suggested using an attorney to draft the following - "Short addendum to cover things like a (i) pre- and post-closing indemnity, (ii) seller representations and warranties, (iii) an assignment and assumption of leases, (iv) establishing a duty to collect past due rents, (v) Seller’s delivery of a “rent roll” and update of same on or at closing, etc., could all be included in a short addendum."

Will a standard PAR form cover these?

Hi 

I am in the process of making an offer for a multi-unit property in Pittsburgh. I work through an agent and he has recommended that I use a real estate attorney to review the contract and make any additions, if necessary. I am an out of state investor and wondering if anyone can help with the following

1. Is this normal for an attorney to review or modify every time an offer is made? Don't the costs skyrocket?
2. What is the exposure that cannot be covered by standard PAR (Pennsylvania realtor paperwork)
3. How much should I expect to pay for these services?
4. Any recommendations for a real estate attorney in Pittsburgh?

Will be grateful for any help or advise here. Thank you

Thanks Shawn