All Forum Posts by: Ayana Lugo

Welcome!

I am interested!

Welcome! I want to do the same, but trying to get started. Best wishes!!

Welcome!!!

@Huiping S. - FL Statutes. You can find them online.

I agree that there are shady folks in the business, especially since I live in a place where it is very common. But as a real person with integrity, I don't see how a model of nickel and dining an owner will result in a long term relationship that is profitable to both parties. 

@Steve Vaughan - I would naturally ask more questions because I know tenants make up a lot of crap. I have been trained to evaluate each instance and determine what the cost will be on a long term basis. At the same time, I would not be interested in representing an owner that was not willing to make repairs or not willing to invest money into the property at some point. My reputation is also important and I have high standards just like you.

I thank everyone for their feedback on the matter no matter how you felt about a PM. I know that good ones exists and are ethical. Again, NARPM has a resource of PMs that are required to take an ethics course and works with integrity. 

@Mike Hanneman - the company sequence for placing a lousy tenant is lost business. It's more about long term relationships with both the tenant and owner. 

@Marcia Maynard - I think it's great if you like it...that means you are just as crazy as we are! I enjoyed my time as well and will also come back to having my own company some day as a broker. 

@James DeRoest I am sorry you and others had a bad experience. There is a group of us that have taken an ethics course and abide by its content. You can find them by searching the NARPM website. Realtors also take an ethics course, but there are shady folks in all categories...including investors who don't take one at all!

I understand you want to screen your own tenants and I am sure that a good  PM could provide you with quality tenants for your selection. But I am not asking to convince anyone, just wanted to see the responses. 

Thanks to all who shared.

Hello all! I am new to this site and have been getting active on many threads and I see a common theme in the rental area - investors are managing their own property. I am wondering why so many investors are not using a property manager and leveraging their time to do other things? As a former PM for the past 16 years, we professionally take the headache out of owning rental property which leaves you as simply an owner/investor. I find value in that cost whereas maybe many investors don't? How do you consider rentals passive income when you are actively engaged in making the income? Just looking for some of your thoughts here...

You will need to check with the landlord-tenant laws for UT to determine what you can keep and what should be returned. Typically, the deposit is retained in case there are damages. Damages can include lost rent in the event the tenant breaks the lease without proper notice. You must also be mindful of what the timeframe is for accounting for the deposit. If you miss that deadline, the tenant may be entitled to the full deposit or more. You usually have to send a SD reconciliation even if you intend to keep the monies. Again...check with the law and comply accordingly.