All Forum Posts by: Eric Doud

@Jordan Archer  if you do bring a contractor out follow then and learn as you go. If they go in the crawl space follow right behind them and have them point out things to you. Then later on you will know what your looking at and be able to find things on your own. 

We started our  property management company due to the fact  we could not find a reasonable property management company that wouldn't fee us to death with renewal and signing fees. Havering to use there venders for repairs  and the list goes on. We manage just under 200 properties right now and we are growing every month   Our company doesn't get paid until the owner gets paid. It's incentive for us to work harder for the customer which is the owner of the property. 

Keywords: Hampton roads, Virginia beach, norfolk, Portsmouth, Chesapeake. 

@Account Closed   Exactly what I am saying. The tenant want to renew the lease and the owner has to pay a fee. That's crazy. 

@Mike Ritter what do you charge as a leasing fee and renewal fee?  

@Oren K. is saying that the first months leasing fee equated to 8.33%  so Fator in a 10% vacancy cost you'll have it covered plus a few days?  That make a no sense. So really he just took away his vacancy numbers. 

@Kyle M. @Roberto Andrade You both need to find new property managers, in your break down the property manager is the only on making money.  in your break down that property manager is making over 16% a month on YOUR property. 8% management and you broke down lease up fee at 8.33. What other charges are they getting away with?  Do they charge you if your property is vacant ready to rent?  There has to be other companies out there and of there, keep looking

@Dick Rosen What is a lease up fee? from the earlier posts it seems to be costing the owner of the property a months rent to to get the property rented, thats ridiculous. What has that property manager done to warrant that type of pay check.  What do you charge for a re-leasing fee? Say they tenant signs a year lease and stays for a second year?  Our business has thrived on charging two fees, a 10% management fee and a monthly accounting fee.  

it's amazing the fees that most property managers are charging. That is the main reason why my wife and I stated a realty company and specialize in property management.  We have 2 fees. A standard 10% management fee and an monthly accounting fee. No leasing fee, no re-leasing fee, no inspection fee, no vacancy fee. No mark up for maintenance costs. There are other company's out there that don't charge those ridiculous fees.  You need to keep shopping around. 

Keywords: Hampton roads, Virginia beach, Chesapeake, Norfolk, Portsmouth.  

@Pete T. The businesses are the s corps. My wife is the owner and broker of Doud realty services and my company is Doud contracting. The tax benefits work towards are advantages. We both take regular pay checks. The properties are held in a LLC for asset protection and personal liability.

Terri Stewart. 

397 Little Neck Rd, Virginia Beach, VA

(757) 473-0666

She handles all of are taxes. 

S corps for the businesses and several LLC's for the properties. She has been great.