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All Forum Posts by: Dick Rosen

Dick Rosen has started 31 posts and replied 1279 times.

Post: Lease Renewal Incentives

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

In my area the market is hot enough that incentives don't make any sense, I've never believed in incentives anyway. Regarding the increase, you have to know what your market is doing. Mine is typically on a 3-5% increase however 6 months ago it was at an 8% pace. I will offer lease renewals with a % increase based on market conditions but capped at market rate. So if market rate is $1000 and a 5% increase takes their rent to $1010, I will offer them $1000.

Post: PM Owner Distributions

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

I agree with @Nathan Gesner, most common is the 10th but I also know PM's that do it on the 20th or at the end of the month or even the 1st of the next month. It's a business decision on their part and should be spelled out in the PM Agreement so you know what to expect.

Post: Need a logo for our business

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

I've used Fiverr many times, always happy www.fiverr.com

Post: Property Manager Expectations, what's realistic?

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

@Michael S. I totally agree with Doug's comment. We certainly shop our vendors but you also have to expect great service and I really haven't ever seen or heard of wholesale pricing in the contractor business. 

Also as Doug said, I think you are pretty spot on with everything your looking for. You are just one of the many that got caught up with the wrongundefined

Post: Protection Orders & Gunshots- Thoughts?

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

Get a No Trespass order on the ex, that's the only way they can arrest him if he comes back. Except for the gun situation. But if he comes back with no gun and just starts yelling at her you can have him arressted for trespassing if you have the order, if you don't have it the Police can't do anything because it's

Post: Getting Killed on Property Insurance on Rentals.

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

@Alfred Litton I've been using them on all of my rentals and flips since 2005, I've never had a bad experience.

Post: Getting Killed on Property Insurance on Rentals.

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

I urge you to take a look at NREIG National Real Estate Insurance Group. I've been using them for years, I had a large claim several years ago that was taken care of very efficiently and I'm not paying as much as you on properties in MN and AZ.

Post: Do you have all tenants sign a copy of the Lease?

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

Everyone over 18 signs the lease and they are all 100% responsible for the

Post: Tenant wants to put in a pool

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

Absolutely not, huge liability and increased insurance cost.

Post: Rental property water bill

Dick Rosen
Posted
  • Property Manager
  • Gilbert, AZ
  • Posts 1,331
  • Votes 451

Yes they are responsible to you but... you are ultimately responsible to the City. You should ask the City to keep you in the loop of past due water bills so you can jump on the tenant right away. For now, you should pay it and add it to the tenant ledger, if not paid right away I'd start eviction process.