All Forum Posts by: Carol Klein

Thanks guys. My realtor owns and manages a lot of properties of his own and also for other people. He will be renting or selling mine. Someone mentioned that's not a good idea as he will fill his vacancies of his own properties first. Properties are different though as someone might want an ocean view or a particular location. I will check out the link just given too. Thanks! I have to figure out the gains from invested income from selling the house to that of two rents with all the costs of running a house. Would have to put in $40,000 - $50,000 to do reno to rent. It's been steadily going up in value, but that's not guaranteed. There's just so much ocean front property in that area though.  According to the Department of Finance it dropped $310,000 from last year, but the realtors said to ignore it, that theirs dropped more. Just had a very high offer but I can't sell it right now.

Thanks so much for the detailed answer and link. Seems to be a choice after reading it, of managing the tenant or the managing the property manager. Doesn't seem like this will ever be anywhere near stress free...sigh. I think the best solution for me is to sell, and get steady income that way. With a property manager at maybe $750+ a month and all the expenses of running a house and very high property taxes, maybe that's best for me. Thanks again for the info.

I am inheriting some high end real estate with two rental units. I don't want to sell as it keeps going up in value. I'm an older gal and can't deal with two tenants myself. In the process of evicting a tenant now. I was told they have managing agents to deal with tenants, but do they really make things almost stress free for a landlord? I'm not looking for someone to just collect rent, but to manage repairs, tenant issues and conflicts etc. I guess I will still have to evict a tenant though. Just wondering if the stress is worth future gains. The property is in south Brooklyn with ocean views. Dropped a bit but came back after Sandy. Was hoping to get some feedback from others who have used these property managing agents. Thanks.

I assume he was licensed. If so, contact the dept of consumer affairs in your state. They have a mediation service and can pull or suspend his license. Also file a complaint with the BBB in your state. They also try and resolve complaints. Also contact the Dept. of investigations (DOI). You can get info on that from the DOB. He will have the money as he's getting paid from this job. Good luck!