All Forum Posts by: Dan Baldini

Double check your PMA as this may be a requirement to ensure the PM company is aware of your current status and you are not in default.  In other words, it could be a risk mitigation strategy they have in place as an early alert against bad landlords who don't like to pay their property tax bills.  Not saying you're a bad landlord, but they are out there and it puts the PM company in a nasty situation when the landlord doesn't keep the property taxes current, just like when the landlord doesn't keep the mortgage payments current.

Jordan—that appears to be quite a normal snow contract. Our PM company signs various ones for both our residential and commercial landlords with similar language and base pricing. It’s a balancing act of controlling costs while also controlling risk of personal injury to your tenants and property visitors as well as maintaining goodwill with all involved at the properties. 

Of course, if the snow is not getting shoveled, that’s not good and needs compliance correction activities by the PM. But also remember to take reports by tenants of snow not getting shoveled with a huge deer lick of salt—the crew may have just finished and snow can and does accumulate rapidly in between trips. 

Zara--this is quite necessary and in full compliance with Federal and State statutes.  The PM company needs that information to complete your annual 1099 and their 1096 to report the gross rental revenues received on your behalf.  

I'm a bit shocked your previous companies did not ask for this information....and even more shocked you haven't gotten audited yet, too!

ouch....sure can understand why you didn't engage with them.  suggest you find a different attorney firm to work with...they'll take a cut, but worth it.

Ananth--if you used an attorney to process the eviction, most attorneys will also pursue the collection of judgements on your behalf, too.  Suggest you check in with him/her on this additional service as your attorney is already intimately familiar with the file and you can often give them pre-authorized amounts to settle on vs trying to squeeze all the blood from that turnip.  Good luck!

A good rule of thumb is this:  Be careful and fully understand the risks of "getting in bed with the government".  You will, likely, be required to sign and comply with their auxillary agreements, which you may not like/enjoy if push comes to shove.  Not to mention, you've now become reliant on a 3rd party for income streams, and yes, they do occasionally run short of funding and, yes, they have no compunction with telling you to pound sand until they get new funding.  So, essentially, you are introducing a new uncontrollable risk into your landlord proforma.

Yes, this is quite a common practice for professional PM companies.

John--highly recommend you do the following to protect your interests and your property:

1. Get the Certificate of Insurance for the electrical contractor in case there is an issue during installation and also thereafter.  Also get proof of paid invoice for your records, too.

2. Have the tenant sign a Lease Amendment indicating that the tenant is responsible for the cost of installation of the charger, any maint and repairs, and also removal cost (if desired later by you or the HOA). Also, the amendment should read that once the lease ends, the charger becomes a fixture of your property and thus yours.

It's always a plus when you can get your property valuation increased and the tenant pays for the new item, just so long as your downside risk is mitigated, too.

Good luck!

Ahhh...thanks for clarifying, Matt.  If your leasing application process is thorough and well thought out, and if your lease agreement has been well drafted by your local attorney and if it includes clauses that permit you/your property manager enough latitude to maneuver and anticipate undesirable tenant behaviors, both actions and inactions, and you have operational processes which align with enforcement of your lease, then you've done all you can do to reduce this inherent risk of an undesirable tenant.  

If, however, there are any gaps at all in any of the above items, even a gap so small a mouse can squeeze through, that tenant will exploit it and your life just became a 7th Level of Dante's Inferno.....:)

Matt--what actions/behaviors did you observe that caused your "spidey-sense" to tingle on this prospective tenant?