All Forum Posts by: Jenna W.

Is anyone use RE-LEASED software for CRE?

Does it function as the demo shows? Are you satisified? What are you paying?

I have been unable to source a consultant who does not want to take the responsiblity over. CFO wants to keep itin house, and on SAGE, anything that allows that, she is willing to look at or work with.

It's not turnover with the leases, it's the constant purchasing of property. We have new properties atleast every other month. Some come with leases, some don't. When i was there previously, we used attorneys for leases, but since I left the in between property manager, was writing them herself with a template she found online to save money. Be still my racing heart....scary.

@Lien Vuong

Lien, as my most notes, I would very much like a consultant to come in consult is on to run this more efficiently, if the company does not aim to outsource the work, I would very interested in your referral.

Thanks

Jenna

@Nicole Heasley. Thanks so much, first does MRI interface with sage?

Hello my name is Jenna .I was working at a car dealership 12 years ago when the owners decided to build a commercial real estate portfolio and get into other businesses then just the dealership. I stayed and managed a portfolio that got to be about $20 million in commercial property, I left for a while but recently they hired me to come back and help run the portfolio which is now closer to 70 million in value. When it was smaller I was able to manage all of the lease details, rent increases, certificates of insurance, maintenance schedules, cams etc. using XL and my accounting team use the basic package of sage. They continue to do so today.

I’m looking for property management software that interfaces with sage accounting, we might bump up to their property management accounting software, hopefully, at the same time. I am specifically looking for a tool to automate maintaining the agreements in the lease and communications with tenants, as well as a ticketing system for maintenance requests, maybe a capitol improvement request functionality.

In my wildest dreams I would find a consultant someone local to central Massachusetts who would come in and see how the portfolio is currently being managed and make recommendations on accounting and property management systems and processes for our team to evolve. All of the consultants I find our people you hired to do these functions for you. We have a team in place that is awesome we just need to get with the modern tools to make this a little easier. We are a car dealership acting like our commercial real estate portfolio is still a side gig when it’s now a primetime money maker.

I am open to all suggestions and would love feedback from anyone who thinks they have something relevant to share thank you love this community and looking forward to the dialogue



@Adam Martin

Sometimes when your a same building landlord those things just as valuable so your day to day life can go on

@Adam Martin

Thanks

First, I can raise to market rent without restrictions here .

Secondly, he does not have a lease, he’s a tenant at will so either of us, in non COVID time could end the arrangement with a 30 day notice.

Thirdly he’s okay, in my job as a commercial real estate property manager I’ve seen worse tenants. He’s annoyingly me, but my partner is a protected class due to his war time injuries and he’s probably the lowest impact tenant (other than this rent issue) for us.

Friendly, non threatening, quiet, low traffic through his apartment, clean. Etc.

My partner has ptsd and a traumatic brain injury. He thinks it’s “so cool” we have a tenant to pay most of my mortgage and that he’s a good tenant. Sweetheart my partner is. I know the tenant is average at best.

I am moving on up

Thanks, I have everything documented already. He's never had a lease, he's tenant at will. Massachusetts has a 30 day grace period for rent, and 2 times he was later than 14 days he was issued a notice to quit, so I do have my ducks in a row there.

Hello

The cdc power grabbed this week. fine. My tenant has been here a year and half, I own a 2 family and live on the first floor. He's never gone a month without paying, is generally a couple weeks late and once paid on the last day of the month. when he first moved in the cops were here for him multipe times but now it's been cop free free for a year - bad break up restraning order stuff. 

He did have a 2 month forlough in April at work but he went on vacation for a month in florida before it shut down because, as he said "he was saving so much money not leave the house and the the unemployment benefits were great - giving him a $12,000 savings account" as he told me excitedly on the phone when he called to say hi from florida I don't know what he usually has in savings and it's not my business.

He went back to work at the end of May and has been promoted since then.r he told me, and he has a new company car. Last month he bought $4500 motorcycle, I didn't ask, he told me the price. He paid cash for. He's single no children and board with all his social places and clubs closed so I figured, good for him, something to. His rent is $900, and FMV is $1400. It's going up next year to $1,050, and I plan to $1150 and then hold until I make some more improvements or see what the market does. My mortgage is $1300 and I have a partner who lives with me and pays to do so on the first floor. he is a tenant at will.

anyway, he trying the cdc attestation with me that he's struggling and can't pay.

I kicked it over to my lawyer who will be back in on Tuesday but wanted to see what you guys thought.

not that it maters because I can't evict him, in his tenant at will agreement it says he gets 2 parking spaces. He has 3 vehicles at the moment and is entertaining dates who stay over. so he's cramming 4 into 2.

Thanks!

Theresa , before I both my two family, the old owner build a sun room addition in the back on the first floor unit, and the shed is under that, so the shed just looks like basement part of the addition from the outside. So no lean too, but great idea for a free standing one

I guess he used to ride them 20 years ago. Since he’s taken it for 3 rides in the last 24 hours, I’m hoping that means it is like riding a bike after all.


I’m just trying to do some research now, if a tenant is storing an unregistered bike (which he plans on registering tomorrow when he gets his permit) ami liable as the property owner for anything that happens to cause injury to him or anyone else while driving it. Seems far fetched but to be fair I am fasting for medical reasons so I’m a little loopy today.

Sincerely, the hungry landlord