All Forum Posts by: Michael Noto

As @Stephanie P. has mentioned there are a lot of lenders that will consider doing these types of loans. Any reason you are going the national lender route? Have you tried local lenders you can build a relationship with?

@Juan Mercado The answer to your question is yes, but there could be significant time and money associated with doing so depending on the specifics of each tenant situation. Are they current on rent?

Just make sure to let the tenants know they are going to be installed and what the purpose of the cameras are. Some tenants will look at this as an added layer of protection for them and others will look at it as you monitoring them. Be ready for both reactions. 

Pre-screen applicants, then tell them they can apply and/or view as the next steps. You will find most want to view before they apply, but always offer them both options.

Doesn’t hurt because you’ve already let them know the screening minimums, if they apply when they don’t qualify that’s on them. Always charge a fee for the application, just another small hurdle that people won’t jump over if they truly aren’t qualified. 

@Patrick Orah As others have mentioned most have standard fees. Make sure overall you get a sense for their communication and make sure it meets your expectation. Also, make sure your expectation for communication is in line with the norm. Always remember they aren’t your personal PM, they manage a portfolio. 

We use Buildium and have great experiences. Seems like the size of your portfolio will determine which option is best for you. Just don’t overpay for an expansive software you don’t really need and take away from your cash flow. 

Search the term “house hack” on the forums and you will get all different opinions, tips and tricks, best practices, etc..

I bought and sold properties early in my career at a distance in Syracuse. Biggest thing I can recommend is hiring a legit management company that will take landlords who don’t own a lot of units seriously.

Tenant screening is key up there as it is anywhere and you need a PM who takes this aspect of the business seriously. Do a lot of research into properties they currently manage and check condition, etc. 

Put a lockbox somewhere on the property so when you have vendors go they can access through the lockbox. This  is an easy way around having to go to the property if you are intimidated. I guarantee the tenant is way different in person than he was on the phone also. 

Tagging your rental market in posts on here is a good start people will be able to recommend pros local to you they have had good experiences with and you can take things from there. Paging Birmingham.