All Forum Posts by: Chase Gu

Hi, I am working on a new construction 9-unit apartment building, with a commercial unit on the ground floor.

For apartment, we have options of simple sheet metal or RC-1 channel between walls and floors. From what I heard, RC-1 works better for soundproofing but it costs more. My question is whether RC-1 channel worth the additional costs? Do new apartment building typically install RC-1?

Thank you very much!

Chase

Hi, Everyone: I am about to build a small mixed-use new construction. I need someone to review the construction contract with the general contractor for me: either a lawyer or an online legal service provider. Do you have an recommendation? 

I want the contractor to be bonded and insured. What specific bond and insurance do I require the contractor to have for a new construction? 

Also the general contractor wants a 12% fee for any change order beyond the initial scope. Is it reasonable?

Thank you very much!

Qian

Hi, I have a new mixed-use property with 9 residential units and 1 first-floor commercial unit. The commercial units is 1,600 sq ft plus 2000 sq ft basement. For this small commercial unit, is the lease typically double net or triple net? Which one is better from owner's perspective? What exactly are paid by tenant and owner under double and triple net lease? I have seen leases with different type of costs covered. For both types of lease, what are other costs for owners?

Thank you very much!

Best,

Chase

Hi, I am developing a mixed-use property with 9 residential units (about 1000 sq ft each) and 1 commercial (1,600 sq ft first floor and 1600 basement). What is the reasonable management fee for this size of property? I have the following quote:

1. 7% for ongoing management for both commercial and residential

2. Tenant placement: 75% first month for residential, and 6% of total lease rent for commercial (5% for unrepresented tenant)

3. Lease renewal: $195 flat

A second quote has similar rate, except 2 month rent flat for commercial tenant placement, instead of 6%/5%

Are these rates reasonable? Can I do better?

Thank you very much!

Chase

@Daryl Luc @Jaron Walling @Jeremy Taggart Thank you so much! Did you buy and have it installed at big-box stores like Home Depot/Floor & Decor? Is there a specific vinyl plank product you would recommend? What is the total cost per square foot I should expect, including materials and installation? Thanks again!

Hi, Everyone:

I am really tired of the carpet flooring in the rental property - it has to be replaced every a few years. Have you used other cost-effective flooring materials that are durable and last for 10+ years so I do not need to replace the carpet every other tenant moves out? Any recommendation is much appreciated! 

Thanks! 

@Stephen Glover Thanks again!

@Stephen Glover Thanks, Stephen. I looked at their website and it does not look like they build multifamily buildings. Have you worked with them personally before? I am looking for recommendations based on firsthand experience. 

Hi, Everyone:
I am considering a new construction apartment building of 8-10 units in Richmond area and I am looking for a reputable general contractor with experience of developing small apartment buildings to work with. Any recommendation is much appreciated!

Thanks!

Hi!
I am considering a new construction apartment building of about 10 units in Richmond area and I am looking for a reputable general contractor with experience of developing small apartment buildings to work with. Any recommendation is much appreciated!

Thank you!

Best,

Chase