All Forum Posts by: Erin Kilrain

Thanks, Chris!

Hi Paulette, thanks so much for your response. Yes, I thought that renewal fee seemed weird, especially in that a lease renewal is probably the easiest part of the job for the property manager. Thanks again!

Wondering what the going rate is for Property Management (PM) lease renewal fees (same tenant, just renewing lease for another 12 months) I’m in Philadelphia and have seen anywhere from $0 renewal fee to a flat $200 per renewal to the entire first month’s rent again! I expected to pay the first month rent to get a new tenant but when it’s just admin work of sending the existing tenant basically the same lease and getting them to sign it, I can’t justify anything more than a nominal amount, especially when I’m paying them 8-10% each month to manage the property.

If anyone has recommendations of contractors to clean out a house/junk removal in the Philly area, please DM me.

Jillian R. Wiedenmayer thanks for your post. I guess I just thought I had to come up with a mutually agreeable time for at least 30 days past the eviction or I had to pay for storage. I would’ve gotten rid of their stuff yesterday if I thought they wouldn’t come back and sue me.

I recently evicted my tenant and have proposed a couple days/times for them to come get their stuff. None of these days “work” for the tenant and I’m tired of their games. How much longer do I have to provide alternate available windows for pickup? Not that I want to pay for a contractor to pack up and move items to a storage unit, but does anyone have any recommendations of contractors to do this?

Bob, thanks so much for responding. Let me make sure I understandso I can roll the dice and do a quit claim, hoping that the bank doesn't call on the loan to be due. And in that scenario, since I wouldn't be transferring the mortgage to another lender, I'd be paying no closing costs? Is my only other option in transfering title to an LLC just paying off the loan?

Hi,

I'm very new to investing and wanted to find out info about if and how I can transfer my existing property (of which I still have about 90% left to pay on the mortgage) to an LLC.

I'm pretty sure I will have to pay closing costs but not sure how it works with the remaining mortgage. I'm pretty sure my bank won't allow me to transfer the balance of the mortgage under the same terms to the LLC, so is it possible? Or even just point me to the best person (i.e. lawyer, accountant, etc) to get this info from.

Thanks! (This is my first post so please be nice)