All Forum Posts by: Brian Karlow

Great question Therese...I am interested in this as well and would like to see the feedback!

Therese

My approach is the first tenant to complete all of the forms and meets the qualifications and then provides the deposit, then they are the successor. Until all of those criteria ate meet, I continue to proceed with applicants. Too many times I have seen applicants lose interest and then I've lost market time.

Good luck!

Brian

Great question Calvin and thanks for the responses everyone...really appreciate everyone's input!

Brian

Hey Emily

I have to agree with Jim...you've answered your own question regarding this tenant.  

Raising rents requires a balanced approach between market rate/vacancy factor/current tenant quality. Once my units are at market rates, I don't find that a 1% or 2% increase each year is worth the vacancy risk but again, if the market jumps 10%, I would adjust but not necessarily the entire 10%. Your market's appetite will ultimately determine what is fair....trust the numbers.

Good luck!

Brian

Hey Sean

What does your pro forma show the NOI to be? Have you been able to verify the expenses and collected rents?

Brian

Welcome Will....you have joined the right community to thrive and succeed!

Best of luck and feel free to contact me if you ever need to bounce something of another set of ears!

Brian

Welcome Susan! We're practically neighbors.....let me know if I can help you out as you make your way through the site.

Brian

I cannot speak to those specific charges but in most scenarios a property manager or real estate broker would charge one month's rent to provide the services associated with tenant placement.

Brian

Hey Jimmy

Marketing costs and any lost revenue, either through vacancy or a new lease which does not capture the same rent level for the duration of the previous lease....I'm sure there are plenty of other examples, but these are the two at the tip of my tongue.

Brian

Logan

Sorry to hear about this....that is a real disservice and seems to me to be a very high level of incompetence on the inspector's behalf!

Discuss this with your attorney and also have a further look at the entire structure.

Brian