All Forum Posts by: Angie Swader

Please count me in too.  I want to bring my bosses.  I keep asking them to sign up on BP but they are too busy.  I hope if I can get them to a meet and greet they will see it's really worth their time.

That makes a lot of sense.  I'm not paying their bills or depositing the checks in my account and then turning around and paying them back after expenses.  They pay me monthly from an invoice I send.  All rent checks are made out to them.  I just run it to the bank and make the deposit, not unlike any assistant would do if her boss asked her to run to the bank.  I am not in anyway in control of their funds.  I find the vendors and they chose which one to use and then they pay them directly once I've verified the work is completed.  I run the ads, collect the applications and then  they choose who they rent too.  I prepare the paperwork, notices and documents, but they sign everything.  I do nothing of my own accord, only at their direction.  Because they are self managing, I'm just assisting them so they don't have so many headaches.  

I would say the property managers since they are local.  They know who they rented too.  They knew they would need to pass the inspection.  I believe it would be on them to be responsible for the units condition at the time of the inspection.  

Section 8 is a wonderful program and not only gives clean safe housing to those who are lower income, but helps property owners fill vacancies with paying residents who maintain their housing so they don't lose their Section 8.  

 Absolutely right on the rent issue.  For one of the investors, I collect and deposit.  For the other one it's all direct deposit straight into her account from the tenants.  Hmmmm...I hadn't thought of this as an issue before because I always collect at my on-site property manager job and it's never been a problem.  I don't understand the difference between renting houses and renting condos in a single building, but it is what it is and I want to make sure I'm following the law.  Thanks for the input. 

Congratulations!  I have no input since I'm new here and have only been in property management, but I'm excited for you.  Keep us posted on your progress and best of luck.

I'm not even sure if this would be the correct forum to post in but here goes:

I am thinking about becoming a virtual property management assistant.  I have 15 years experience as an on-site property manager in California which requires no licensing but fair housing training.  But to become a property manager and manage houses on my own, I have to get my license and work for two years under another broker then get my broker's license to start my own company.  I am 2/3rds of the way through the real estate agents licensing classes. 

I already work as an virtual assistant to a couple of investors who self manage their own rentals.  I post their rental ads.  I do move in/out inspections and paperwork.  I do twice yearly inspections for habitability.  I am their customer service representative and respond to all rental inquiries, maintenance requests and complaints.  I am really good at this.  I draft all correspondence, rent increases and notices.  I work completely independently from my home office.  I get quotes for repairs and schedule vendors.  However, they make all the bottom line decisions like who to rent too and how much to charge.  I give advice, but as I remind them they are the owners and all final decisions are on them.  I also collect rents and since they are local, make their deposits.  I think it is going so well with them, that I might offer my services to other investors as a virtual assistant.  I also have some transaction coordinating experience.  

However, some people on BP say they only pay $1.50 per hour for virtual assistants through companies like Odesk.  I can't make a living wage in California on $1.50 per hour.   I currently get paid $50/house plus a bonus for leasing/lease renewals.  It's pretty much a flat rate no matter how many hours I work on that property.    

What do you think?  Should I pursue this idea and try to morph it into a career until I can meet the legal requirement for opening my own Property Management Business?  In our area property management companies charge anywhere from 7-13% a month and owners/investors give up a lot of their control over their properties.  I think this way all the owners maintain that connection with the property and what's going on with it, while not dealing with the day to day phone calls and stress of collecting the rents.  Your advice, suggestions and comments would be very welcome.  Thanks so much!

Long term residents usually will not bulk at smaller rent increases.  Once it gets over $100 that's when they will move.  Remember to give them enough notice of the increase according to your local laws.  

If you are determined to move in with your boyfriend of four years, then be prepared to stand on your own two feet.  Mom and dad aren't going to help pay for you to live a lifestyle they will not approve of.  You know that.  That's why you are trying to hide it.  But this is a legal contract they are signing.  And guess what?  They are co-signing for all occupants.  That means your boyfriend too.  So legally they have the right to know all details of the deal.  Just as if they were helping you buy a car.  Either grow up and discuss this situation with them as an adult or stay at home and save money so in six months you can do this on your own without them co-signing.

First of all, no reputable A/C company will work without the owners permission on a property.  Fire the old company and hire a new one.

Second, if you replaced equipment recently shouldn't it be under a warranty?

Third, communicate with your tenant.  If they are not willing to work with you, then ask your tenant to move, but in the nicest way possible.  Because you do not want it to look like it's a retaliation for complaining about repairs.  Protect yourself and your investment. 

Screen, screen and did I mention screen your residents.  The same way every time, no exceptions to the rules.  It's doesn't matter if it's your brother's best friends cousin.  Screen them.  They need to meet the same criteria you hold your other residents too.  Never deviate or you open yourself up for discrimination lawsuits, particularly in multi family situations.