All Forum Posts by: Geoff Pettis

@Scott Price Is the property older or newer?  Older homes tend to be less air tight and breath a little more.  Newer homes tend to be more airtight and causes the relative humidity to stay high?  Do you know what the humidity reading is?  50%?  higher or lower?  Have you tightened up the building envelope?  New windows, doors, siding, insulation, weather stripping?

@Harry Gamble Thanks for the input, your confirming my initial thoughts.  I'm seeing two separate challenges.  First is the overlap between what can be the challenging dynamics of a family business relationship and the flexibility or lack thereof of the legal structure of the entity that owns the property.  Great food for thought, what are the best legal structures for family members that own investment properties?

The disagreements are related to the normal stuff.  How to handle or who to hire for outdoor/indoor maintenance, property management, whether to keep or sell the property, should we buy another property?  The family situations have been mostly one or both parents and their kids.  I would describe it as the normal disagreements found in many businesses and discussions between investment partners.  Given that does this require a family business/real estate lawyer?  Are there people that specialize in this area?

As a property manager I have customers who own investment properties with family members but they don't see eye to eye with that family member when it comes to the investment property.  I'm sure we have all heard stories and have personal experiences of owning businesses and investment properties with family members, I know I've learned my lessons.  I would like to give my customers some ideas and direction on where to start and some options they may have with how to address this situation and eventually solve it without causing too much family strife.

Thoughts?

Hi Joe, like Matt Higgins said our office has had some let's say "unique" situations as well when it comes to inspections.  I'm tempted to list a few of them, however I didn't want to cause undue worry because most situations are pretty normal and the city is usually pretty workable.  If you do have any questions, get in touch with me and I'd be happy to assist you in navigating through any unusual situations.

Best,

Geoff

That old adage "it sounds simple" can definitely apply to being a landlord.  Like many things in life doing simple things well can be complicated in execution.  In your experience what makes a "good" landlord into a "great" landlord?

Should I allow pets in a rental?  Does this limit my rental pool?  What are your thoughts?

Being in the property management business I receive many questions regarding pets.  It's about a 50/50 mix.  50 percent would like to bring their pet.  50% don't have a pet.

I'm curious what the BiggerPockets crowd thinks?

@Joseph Justesen

Hi Joseph,

If you would like any assistance navigating the city of Mpls mechanical systems permit requirements let me know and we can chat further. You can do many things yourself however when it comes to mechanical systems you just need to do a little more due diligence.

Geoff