All Forum Posts by: Jim R.

Bob:

Couple of serious issues with this policy. If a renter moves before trash pick day, how does the full trash bin get to the curb? (first violation) Is the PM responsible for this?

Once the trash bin is at the curb and emptied (second violation), how does it get retrieved if the tenant has already moved out? Again, is the PM responsible for this?

Is the tenant and owner made aware of these issues in the lease and PM agreement?

Approach the owner with a deal that works for both. Roof gets fixed at 50/50 shared costs or whatever works for you. If owner won't negoiate then walk and keep looking. There is more liability for you in this deal than you realize.

My concern evolves around rising interest rates. If interest rates continue to rise over the next few years the banks may very well be required to enforce these clauses. It would make perfect sense for the banks to be able to force new higher rate mortgages on these loans. Additionally they could be sued by bank stakeholders for mismanagement for not enforcing the clause in a higher interest rate environment, i.e., failure to be fiscally responsible in managing the loans.

WOW. Great job. Would you mind saying want you used for flooring?

Thanks for sharing.