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All Forum Posts by: Gabe R. Gonzalez

Gabe R. Gonzalez has started 3 posts and replied 61 times.

Post: Early Termination of Tenants' Lease

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32
Options:

1) Connect the tenant with a lender and see if they qualify. No point in hypothesizing if they can even purchase. 
2) Offer them money to move out. Asking them to relocate is a big ask, moving sucks but money motivates. 
3) You sell it occupied. Is the property turnkey? Is the rent high enough to justify someone else investing in it?

Here in Chicago the most I’d be comfortable with holding is a trash out fee if they left trash in the yard. You’d need picture proof that the yard was horribly overgrown at the time of move out. 

How much is the landscaping cleanup going to realistically cost? I know it’s a pain, but periodic property checks can help mitigate this kinda thing.  

Post: Noise complaints as a landlord living in rental

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

I’d caution you to reflect on how you’re talking to your tenant. Tenants can make your life a living hell - treat them with dignity and respect and it’ll pay 10-fold. Assume you won’t receive a response for any notice you send, you’ll be less disappointed then. 

I can hear my tenants downstairs now, but my place is also 120-years old. You give up some liberties when you owner occupy. Same thing I tell tenants complaining about small noises - buy a single family. I don’t mean to sound rude, but please treat the folks with some dignity. @Judson Heess

Post: LBP disclosure mishap

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

You’ve got bigger problems to worry about when it comes to serving notices. You should be fine. 

Post: Equity in a deal in exchange for sweat equity

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

What's the best way to structure a deal if I were only bringing sweat equity into the deal? I have an open offer to kick in some sweat equity for a larger multi-family deal, should I find something that works. 

How and when do I leverage that equity - is that only at time of sale? I'm not sure if equity is the best way to go about this if I can't capitalize on it for at least 5-years. 

Post: HELP! Contractor Woes on my first investment property!

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

@Katelynn Malivert It looks like others have given you some good pointers. If nothing else works, tell him you'll write off any work he hasn't done by issuing him a 1099. He'll have to pay taxes on this and might put him on the radar of the IRS. Might be a good scare tactic to keep in your pocket. 

Post: Me vs. Cockroaches - Round 1

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

@Roseann Koefoed Roaches are very difficult to get rid of. You can do treatments every 10-days, but that's overkill. It sounds like you've treated heavily. I'd put the building on a monthly treatment plan with a responsive pest vendor. 

I will say every pest vendor I've dealt with have recommended against fogging. I'm not sure if your pest vendor is well reviewed. If you're still dealing with them, maybe look into another vendor. 

I've gotten a few quotes recently for monthly service, 12-month contract for around $15/unit. 

Another thing that will help is constant communication with your tenants. Let them know the next steps after treatment. "we're going to check these glue traps a few days after treatment to monitor progress" " I'll send a cleaning vendor out if you're still seeing them, dont worry, I've got the bill cause I value you as a tenant" 

Retaining these folks is cheaper than running ads, lease commission, and application fees. 

I have a great recommendation for a pest vendor in Chicagoland area if you're interested. 

Post: Tenant's Dog running loosely around the back yard-Multi Unit

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

@Mario Morales I know this is old and you say the dog has a good temperament. But, you will be named in a lawsuit if anything happens with that dog and your other tenants. I've been there and done that. There's no good deed that goes unpunished, especially in property management. 

I'd check with your insurance carrier on specific language about animals/dogs/pets. There's usually always restrictions, but that's usually for aggressive breeds. But, it doesn't hurt to know what's on your policy. 

Post: Water intrusion in basement

Gabe R. GonzalezPosted
  • Property Manager
  • Chicago
  • Posts 61
  • Votes 32

@Rex Li I'm always hesitant to call a dedicated waterproofing company. They'll always try to sell you on something above what you need. 

Reach out to a general contractor. They'll make sure the gutters are on point, exterior facade is in good shape, and they'll be able to fix any interior drywall issues. I'd look into a back check valve on the sewer as well. You might need some drain tile outside and a sump inside. A general contractor can line all of that up for you. 

@Ricky E. Harris I've fired a fair share of cleaners. My biggest take away is that you need to quality control them all. Maybe you don't walk through after every clean, maybe every third once you trust them. It's worth paying for a cleaner that shows up when you ask, doesn't have to come back, and communicates any findings during their clean (leaking faucet, running toilet, etc.) 

you could always find someone who has a small business and are starting out, onboard them and grow with them. Loyalty gets you far in this business with contractors.