All Forum Posts by: Christine Kankowski

Sounds like they will be problematic.  Keep looking for someone else. IF you don find someone by sat, rent to the new people.  There is no commitment on either party until a lease is signed and deposit received.  @Jane S.

3 months?  eviction time.  dont wait another day.  Since you have a PM, they should have done this when the first payemtn was not received. 

The agent needs to make sure he/she is aware of all that goes on.   

FOr example- I represented the seller in a transaction and all of a sudden the buyer and seller agreed that the buyer would be allowed to move in 2 weeks early, before the sale closed and without paying any rent. 

I completely disapproved.  What if the buyer didn't close and then refused to leave the property?  I made sure all was i writing and that he agreed to pay rent for the time he was there prior to closing.   Arg!

I've never found it necessary.  I am an agent and no client has ever used one.  Make sure the forms used are the CAR forms which have been reviewed by attorneys. 

I know of many owners who live out of the country.  Just make sure you have a good property manager in place. 

If you buy a new construction home, you know what you are getting.  or make sure you get a full inspection on the property, but you will have to pay someone to fix and repair stuff, so it is easier to buy new construction. Get an agent. Be prepared to provide proof of funds. 

What areas are you considering?  Look up Menifee, CA if you are interested here. Booming area, lots of growth. 

We do not.  WE take photos of everything that is problematic and go back to the office to compare the to the before photos. THis takes time, so there is no need to have tenant there at the time. 

WE do offer a quick pre-move-out visit where we let them know what we see that could get charged- cleanliness- we give a checklist of items to be cleaned. - light bulbs, holes in walls, etc.   but the detailed move out inspection happens without tenants, since we can't give answers at the time. 

It is a red flag, but it can be handled if you are clear and matter of fact.  "These 3 things will be fixed, but this comes as-is" "We will not be installing a ceiling fan in this room, etc. "

"Obviously the home is not brand-new, so please make sure the home fits your needs with the condition we discussed. "

We dont provide warranty for the washer and dryer in the home.  They are there for the tenants use, but we tell them in the lease, that they are responsible for repairs if it breaks, or they can replace, or not.

How often do you have evictions, 

Do you charge a service fee for repairs?

As a broker, you are responsible for oversight of the agents that work for you.  You will have to have liability and Errors and omission insurance.  If you have office space, tht will need insurance, utilities, copier, etc.  My point is , you will have costs associated. 

The biggest part is the oversight of agents.  They will come to you with questions and some will try to do unethical things. You will need to train on new laws coming up, and expect certain protocols for certain situations. 

What if one of your agents is sued for a fair housing violation and you haven't offered any training or guidance in this area.  What if someone takes money on a transaction, but you dont have a trust account set up for your brokerage?

Muy recommendation is to be an agent, learn the ropes for a few years, see what a good broker does for you (leads, training, administrative requirements) and then see if that is the direction you want to go.  Best of luck