All Forum Posts by: Jennifer Lyles

@Jonathan Hernandez I recommend contacting a local property management company and have them run some comps for you. You may not need to put money into the house to get the rental rate you need/desire. Or you many only need to do a few things to get it rent ready and still be profitable every month. A PM company may be willing to take a look at your home and tell you what they would recommend. We offer this as a free service so ask around! Good luck!

Appfolio is great, not free but super user friendly!

@Brandon Obrien Hi Brandon!  We have the same policy in our agreement.  It is not uncommon and shouldn't alarm you.  It's honestly to protect you from getting in a situation with the tenant that you are trying to prevent by hiring a PM company in the first place.  

We have had owners reach out to tenants and then from that point on, the tenant will always call the owner first and not the us. They will reach out to you for every little repair, when they are late, wanting to get permission to alter the home, etc.  They will tug on your heart strings when they are late and put you in a situation where you feel you have to waive late fees or allow them to make partial payments.  Just keep in mind, this is a business... it is not personal and when the owner and tenant have contact it becomes personal.  

If you have concerns about your property, ask the PM company what their inspection policy is and if you can request additional inspections to help ease your mind.  If they don't do inspections or allow you to ask for additional ones (even for a fee) then maybe they aren't the right PM company for you!

@Adam Byrne contact her Broker directly and explain the situation. They may be able to help you.

@Bradley G Fagg rents are up in the Atlanta area!

@Alex Pelin we only have 3-4% in delinquencies right now.

@Jodi Wilson Hi Jodi, there really isn't a need to redo the lease. An amendment to the lease is sufficient.  

I see a lot of posts with questions regarding property management.  As a property manager, I often get asked what the tenant procurement fee covers so I thought I would share some things that you can expect to be included in that fee.

- Any initial inspections of the home

- Marketing photos

- All advertising

- Coordinating/overseeing repairs (if any) to make the home move in ready and processing those invoices

- Showing the property

-paying all agent referrals 

-screening all applicants over the age of 18 that would be occupying the home (on average we spend 2-4 hours PER application)

-present the owner with an applicant

-securing the deposit in an escrow account

-drafting the lease

-setting up owner and tenant portals

-completing the move in inspection and move in documents

-processing the move in documents and sharing them with the owner

I hope this info helps all you new investors or people looking to interview property management companies!

Good Luck :)

@Timothy Ray  First and foremost, thank you for your service! Here are some questions you should be asking when interviewing PM companies

1. How far are they located from your property?

2. Get specifics on their screening process

3. How do they handle maintenance? Is there an upcharge on maintenance?

4. Do you have a say in who they place in your property?

5. What is their fee structure?  Are their any hidden fees?

6. What are their late fees? Do they split them with you?

7. How do they handle evictions? How soon after a tenant is late do they file?

8. Do they do thorough move in inspections? 

9. Do they perform routine inspections? If so, is there an additional cost to you?

10. Where do they hold the deposit?

11. How do they determine how much of a deposit to collect?

12. Who will be your point of contact?

13. Do they offer 24 hour maintenance?

14. Is there a maintenance limit that they will complete repairs without your knowledge/consent?

15. How do they determine the rental rate?

I hope this list helps, I could go on but if you want to DM me, I am happy to answer any PM questions you may have! Good Luck!

@Nathan Williams If the person has signed your lease, you have the right to keep the deposit.