All Forum Posts by: John Chace

I’m managing a 5 unit building and my owner has asked if there is anything we can do to help with the excessive cost of water and trash. They inquired about submetering but I’d like to know if anyone is using RUBS, if you know a company that handles it for you, or if you divide it up yourself and how much of a headache that is.

@Adrienne Patel my experience with roach treatments, is that it takes more than one service appointment to irradiate the problem. Orkin does a monthly service plan. Also, once they do a treatment the roaches are gonna scatter, likely into his unit. I’d first explain that to him, then either post a notice of entry, or skip his unit and get It on the next service appointment when it’s vacant.

@Kaelyn Motzel I considered allpropertymanagement.com when we started, perhaps we weren’t ready for it then. I’ll look back into it now. Have you had success with marketing to brokers? I’ve gotten that response from some other groups as well, but haven’t flushed out the idea.

@Mack Benson I appreciate your idea about speaking with our current clients about our ideas to scale. The PM’s I’ve talked to have always said word of mouth is the number one source of leads.

I run a property management company, I’m interested in growing. Currently we manage multi-unit residential up to 4 units. My question is how do I get in front of the owners of the larger complexes. We have the infrastructure to handle It, but we’re looking for advice on how to contact owners of larger apartment buildings and offer our management services.

@Justin Kane ^^^^^ Justin’s answer is the right one ^^^^^

 I just listed a 6 unit building in HB (3.3%) but that’s based on actual rent. this owner hasn’t needed to raise the rent on his tenants in a very long time. One of the units is $500 below market rent.  In my opinion, looking at the whole picture (rental agreements, market rents vs. actual, vacancy, appreciation, etc) makes the investor outlook in OC a little more tolerable.

I’ve been selling residential real estate for 10 years. I have just made my first step into selling multi-family/apartment building. Advertising single families is pretty simple, flyers, open houses, social media, direct mail., door knocking, virtual tours, etc. But selling to investors doesn’t seem like traditional methods would work. I’ve put the old methods to work already (targeted digital ads, direct mailers to absentee owners), but are there any methods that have been successful when marketing to investors. 

@Emilie Ponsin I’ve run into this problem before doing several leases for my clients, and now I’m starting a PM company so I imagine it’s going to be something I come across a lot more. In California, there is a 3 year life expectancy for paint. So if you lived there for 3 years, they shouldn’t charge you. They can charge a reasonable cleaning fee. I’m not sure Colorado’s laws are the same but you could check with the Colorado Department of Real Estate for their specific guidelines. And they most certainly do have well defined guidelines for tenants deposits.

@Tracy Streich that’s great information. I appreciate it.