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All Forum Posts by: Frank J.

Frank J. has started 4 posts and replied 16 times.

Post: Lead me in the right direction

Frank J.
Pro Member
Posted
  • Property Manager
  • Manning, SC
  • Posts 16
  • Votes 3
Reply to @Lynn McGeein:

Do they direct deposit your rents into your account? I was thinking that we would write the owner a check at say the 15th of the month.

The details about how they handle inspections, bills, etc are very important to me. Now, i just send someone to fix it bc its my property. That is going to be the biggest hurdle for me, bc i know that i can not just get it fixed and send a bill. Approval and how you get to that stage is all new to me.
Do you have appliances in all your rentals. We do, but i am trying hard to get out of that.
I don't think i quite understand what you were saying about "finding a tenant" and the fee associated with that. I am hearing that 1/2 first months rent is typical.
Thanks for the help.

Post: Lead me in the right direction

Frank J.
Pro Member
Posted
  • Property Manager
  • Manning, SC
  • Posts 16
  • Votes 3
Reply to @Annette Hibbler:

We have software set up, and are familiar with the manger-tenant relationship. I have not thought about the insurance premiums(i guess property taxes can fall under this too??) Would the account we currently use for security deposits suffice? This is a non-interest bearing account.

I really like the idea of the tenant referral and may begin to use this in our current properties whether we expand or not.

Thanks for all the help and I would love to see the copy of your management agreement.

Post: Lead me in the right direction

Frank J.
Pro Member
Posted
  • Property Manager
  • Manning, SC
  • Posts 16
  • Votes 3

The reason for the office is it operates several businesses under one roof. One of the uses is a payment/lease center for many of our current tenants. Long term goals are to continue to grow on the investment side, as well as begin to grow the management side in order to "double dip" on many of the fixed expenses we already have. With the addition of marketing and addition employees(barring need them) every other expense already exists. We are an existing property management firm as far as anyone would know. We just only manage in house.

Post: Lead me in the right direction

Frank J.
Pro Member
Posted
  • Property Manager
  • Manning, SC
  • Posts 16
  • Votes 3

Yes we are fully licensed with Brokers licenses. We should have everything we need to operate with the exeption of the know how.

Post: Lead me in the right direction

Frank J.
Pro Member
Posted
  • Property Manager
  • Manning, SC
  • Posts 16
  • Votes 3

I own properties in and around the midlands of SC. I have a Property Management Company in place; however we only manage what we own. I have a full time property manager/office location and I am in and out of the office with other businesses. We know and understand the Manager to Tenant relationship, issues, etc. For all intensive purposes we look like any other management company.

I do not know anything about the Manager to Owner/Investor relationship. Typical types and amounts of fees charged, cash flow(how/when is typical payment made to owners, reserves held, marketing ideas, typical contract agreement with owners(how long?, example? etc.

I joined Bigger Pocket to get assistance with growing into a true management company.

Thanks!

Post: New from Midlands SC

Frank J.
Pro Member
Posted
  • Property Manager
  • Manning, SC
  • Posts 16
  • Votes 3

I own properties in and around town. I have a Property Management Company in place; however we only manage what we own. I have a full time property manager/office location and I am in and out of the office with other businesses. We know and understand the Manager to Tenant relationship, issues, etc. For all intensive purposes we look like any other management company.

I do not know anything about the Manager to Owner/Investor relationship. Typical types and amounts of fees charged, cash flow(how/when is typical payment made to owners, reserves held, marketing ideas, typical contract agreement with owners(how long?, example? etc.

I joined Bigger Pocket to get assistance with growing into a true management company.

Thanks!