All Forum Posts by: Mary Ann Casey

@Scott P. Always run a credit check. it will give you a good idea if that prospective tenant will pay the rent and pay on time.

@Jay Hinrichs What a great idea with a win-win strategy all around!

@Bobby Narinov O.M.G.! Consider it a gift that you have been set free from this pathetic unprofessional property management company.

@Barb Mattis  I sent you a PM.

@Rob Mcclellan  Thank you for the recommendation.  I can't find a website for them.  How do you know of them?  PM me.

@Brian S.  Can  you PM me with the name of the Property Management company you are with now so that I can eliminate them from my search?

@Ryan Evans  Agreed.   I don't mind paying a premium for a solid PM, but I think the fees being mandated are extreme:

     $100 every year just to sign the contract

     $25 fee if the tenants pay their rent late plus they keep the late fees that the tenants pay

     6% commission if the tenant ever buys the house now or in the future whether or not they are an acting agent

     $25 per month if they can't rent the house and the house is vacant  

@Caleb Heimsoth  Thank you so much for your input!

I just received an updated contract from my Cleveland Ohio Property Management company, and I'm taken aback by the additional fees that they have added to the previous contract. Thinking of changing property management companies because of it. I could really use your input: 1. What would you do, sign or leave? 2. Can you recommend a good PM Company for a Maple Heights Ohio property (Cleveland area)? The company already charges way more than my Indianapolis PM company, so I'm really shocked by these add-ons in this year's contract: $100 annual fee to renew the OM contract with them. $25 fee that I need to pay if the tenant pays late. They keep the tenant late fees as well. $25 monthly fee if the property is vacant, yet it's their job to find a renter. $5 monthly fee for their technology. 6% commission if a tenant buys the house at any time now or in the future. Thank you for any advice or recommendations!

I need help finding umbrella insurance, and I've learned there's no better place to ask my RE questions than on the BP forum!   :)

My husband and I would like to purchase umbrella insurance We *think* we need multiple policies, possibly 3 of them, broken down by who owns what.   Here's our situation - What would you advise?  

• My husband and I (together) jointly own our personal home in CA (we have a mortgage on it).
• My husband alone owns 1 vacation property in ME, 3 single family rentals in CA with mortgages, and 6 single-family rentals in IN.
• My IRA owns 2 single family rental properties in IN and 1 single-family rental property in OH.

None of these properties are currently in a trust or LLC, they are just in our names and the name of my IRA.

So far, I've talked to Geico and Foremost since we have dwelling insurance with them.  No luck with either.

I definitely want to cover all these properties (and maybe our boats and cars, too) with umbrella insurance.

So:  Who do I call for umbrella insurance?  What should I do?  Or What would you do?