All Forum Posts by: Jeremy Marek

@Kris H. Thanks for all the info! Very helpful!

@David Lee Hall, III That's interesting. I didn't think about non dog or cat pets. I've had tenants get a turtle and fish before and not really considered it a pet. Does anyone give you a hard time about paying a pet fee for smaller pets like that?

Having a new dog move into one of our units. Was wondering what kind of lease rules you guys add for pets and how much extra for security deposit and monthly rent?

@Tyler Kastelberg Where are you getting your statistics that mid-size multifamily has highest foreclosure rate? Please provide a specific study, otherwise you are just throwing out an opinion that a new investor will take as fact, misleading them

@Raj Kamaria I couldn't take all 50, but would be interested in a couple of them. What's your per unit price?

@Rob Mudd We have a mixture of hardwood, LVP and carpet in our commercial Multifamily properties. While nothing is soundproof, we for sure get more calls from units that just have hardwood or the vinyl. Something as simple as walking around in high heels can be aggravating for a tenant below from a noise aspect. That is why as we turn units, we unfortunately have to cover up hardwood with carpet unless they are on the 1st floor

 So if it's 60 days notice, I wouldnt tell your tenant until the notice has been served, once notice is served, figure out which is the last payment that will be directed to the PM (let's say it's June 1st rent), I would tell them that you will be switching to a new system and they have to start sending rent a new way (I would use Cozy or something similar if I were you). Contact them twice about the new changes, once at like 45 day to tell them that this is their last payment with the PM and again at like 15 days before the switch over to make sure they will direct to you.

I wouldn't go into too much detail as to why you are getting rid of the PM, it's no real concern to the tenant

@Liz Norman first thing you should do is look at what your contract with your PM says. It will usually tell you the appropriate way to cancel and the timeline required. That will determine a lot on how to take next steps

@John Warren another vote for the Western and southern suburbs of Chicago. As long as you know the areas, you can find some great cash flowing deals. North side is a very tough and expensive market, so we stay clear of it

@Chihiro Kurokawa I've seen a lot of this too. I agree with you, there is nothing wrong with it, but they should be upfront with their experience and role in the process