All Forum Posts by: Christopher Gingras

Surprisingly, we have not received any additional information.  We passed on the information and my sense is that the attorney discovered there was no merit to the lawsuit or the insurance company is negotiating behind the scenes.  As mentioned in the responses it was a frustration but it has really been handled entirely by the insurance company.

Hi Franklin,  There are quite a few in Gainesville.  In my experience there are pros and cons to each firm.

These are some general comments and all of this is negotiable with the PM to some extent depending on the book of business.  

Bosshardt, Watson, etc... tend to have a higher fee and tack on a % to maintenance which always irked me.

Exit Realty, Matchmaker tend to have lower fees compared to the larger brokerages and may not tack on a % to the maintenance fee.

Gore Rabbell is another one to investigate.

If you send me a PM I can give you more candid feedback.  All of these firms will do a decent job.

We just switched to a property management firm but there was no notice at all of a hazardous condition.  Nor did they notify us after the incident.  When I visited to take photos recently there is a small deterioration to the walkway at the end but its no different than any other crack you might see on a city sidewalk.  It really does seem like a perfect walk way.  Oh well.  Thanks for the thoughts.  Hopefully the insurance company fights the claim.

Good Afternoon. I am not sure if anyone has experienced a tenant lawsuit but supposedly a tenant fell at one of our properties and hurt their ankle. We are located in the Florida, the property is in an LLC and we have coverage on the property plus a personal umbrella.

Any words of wisdom from someone who has experienced this before?  This is new and I am not sure what to expect or next steps or the costs.  This is after discovering another tenant moved out and left dog poop all over one the bedrooms.  There are days that a mutual fund sounds like a better choice.

We reached out to our attorney and notified the insurance broker.  Sigh

It was priced too low for the area and we were promptly outbid as well.  Overall I find it quite hard now to find multi family deals that make sense in GNV.

We have around 50 units at the moment.  Do you live in CA?  How many units do you have in town?

I imagine you will receive many recommendations but Jose Moreno assists us with a lot of legal work related to real estate.  240 NW 76 Dr D, Gainesville, FL 32607 

It appears I cannot post a phone number so you will need to google it

and good luck.  We try to motivate tenants to leave as much as possible but it is not fun losing out on months of rent.

My honest feedback would be to visit the area. It's certainly worth considering. It would say the area is a C, maybe C-, maybe a C +.  Its quite a subjective assessment. 

Typically trash is included in your property tax bill.  Did you use actual numbers from the appraisers office?

I would remove water, sewer and electricity.  It would be surprising if those are not paid for by the tenant.

Maintenance and CAPEX might be low depending on the condition of the units / properties. You will need to tour the units.

Did you receive an actual rent roll?  The listed rents seem high at $900 per unit.

Vacancy at 5 % seems accurate.  These units typically rent quickly.  Keep in mind that the property management company will typically charge a tenant placement fee. Usually equal to one months rent.  May want to bump that number to capture that expense.

Just some thoughts

It would be unusual for tenants in GNV in a triplex or quad plex to not pay utilities.  At our 14 unit we pay for water / sewer but the tenants pay everything else.  All our other units the tenant pays for utilities.  At least that's my experience.

We had a similar issue and I am not saying this would work but it's possible to hydro jet the sewer line to thoroughly clean it out. Then you can reline the pipe to address the areas being infiltrated by the roots. Just the hydro jet could buy you some time The pipe relining is not cheap but no need to dig up the floor. It's also not perfect but you can remove any nearby trees. Roots travel quite far so that gets tricky Just some things to think about