All Forum Posts by: Jaelin Mayer

Hi all!

I am looking for recommendations for a property manager in Colorado Springs.

I have been managing my 4plex for almost a year after firing the previous property manager for multiple egregious offenses. Due to that experience, I have been very gun-shy to hire another, however, it is time for me to do so as it is more than I can manage from afar any longer.

Does anyone have properties in Colorado Springs and have a property manager that is *ethical* and *honest* that they would recommend?

I appreciate your time!

Thank you Nathan! 

Thank you, JD!

The coin-operated washing machine in my 4-plex required repair and I overnighted the master key to an appliance repair company in Colorado Springs, as I live 4 hours away and could not immediately be onsite.

After the repair was made they mailed the master key (not a flat key, but the kind with a hollow round end) in a plain paper envelope. I received an envelope that had the corner torn off as the key did not make it through the post office machines.

So now I need to find a replacement master key for the washer and dryer. I have contacted several locksmiths and no one works with this type of key. There is no information on the coin-operated boxes about the company or a phone number of who to reach with any issues. 

I'm at a loss of whom I should contact to get another master key for the washer and dryer. Has anyone run into this before? 

I am kicking myself that I didn't specifically clarify with the repair company that it would be secured and sent in an appropriate envelope, but I honestly thought it would be common sense not to put a bulky key in a regular paper envelope. Additionally, I just fired my property manager last month, so I, unfortunately, didn't have someone on site that could handle this for me, which I know can lead to problems. 

If anyone knows how to go about attaining a new master key in the Colorado Springs area I would greatly appreciate it. 

Thank you.

Hi, BiggerPockets community!

I am closing on my 1st quadplex in CO Springs this Friday. Yaaay! :)

All 4 units are currently rented. 3 of the units are long-term tenants that are on m2m and 1 unit has a year lease. 

I want to have the 3 m2m tenants sign new leases with me because a) I'm going to use the BP leases which I feel more comfortable with, and b) I would prefer to have everyone in a 6 month lease so that I don't have to deal with people moving out in the winter and trying to find new tenants then... 

My question is: Can I have them sign a lease with me effective August 1st or does it have to be September 1st? There is wording in the current lease about 30-day notice, so I'm unclear about the right way to do this.

Additionally, there are several units with below-market rents, two of them significantly. I intend to increase the rent to market rate, but I would like to do that gradually. I would rather have people stay and not have vacancies. Is there a rate of increase that people have found to be tolerable with their tenants? I'm sure there isn't an exact formula and it depends on the area and other factors, but if there are rough rules that people follow it would be helpful for me to hear them.

Lastly, the cash flow on this property isn't going to be much (after setting aside 5/5/5 for vacancy, repair, and cap expenditures) until I am able to bring the rents up to market rate, so I will be managing this property myself. What have people found to be the best way to collect rent? Mail me a check? Deposit it into a bank account? Other options?

Thanks all! I appreciate any thoughts or feedback that you would like to share. I am really excited about embarking on this new chapter.

Would you please send me information to [email protected]. Thank you!

PM'd you. Interested.

I am interested. Sent you a message. Thanks!

Hi Jerod,

Is this property still available? If so, I would be interested in chatting about it right away.

Jaelin

Hello, 

What is the status of this property?