All Forum Posts by: Joseph Hammel

We are feeling it's slower. Have had some big remodeled units that unfortunately came up late in the year. Some unexpected vacancies. There's a lot to be said about this but having process in place to mitigate turns going bad helps. Example mentioned already of shifting the leases to term out in the summer. May- July is good. Side note I have one landlord friend who actually has his renew in the middle of winter so they can't find another place. Another pro tip. Start communication about 2 months prior to the lease ending sending out renewal emails and following up with a text or a phone call to confirm. In addition to doing regular inspections as soon as someone gives notice due and immediate inspection to determine if the unit is being kept up decent or if you need to plan on some repairs before it is turned. Perhaps they are things that could be done while the other tenant is still there? 

No reason they could claim discrimination for a rent increase. Just keep the amount within any local rules and give proper notice. The reason for the rent is none of their business. If they think it's too much then tell them they should shop around for somewhere else.

Hello,

We have been using Buildium for 7 years but have noticed a number of "glitches" lately. The most common one is that when we get a new lease signed we are not getting the rent roll populated. 

I feel like since real page bought them out it has gone downhill. 

Is anybody else having these issues?

We are looking for a new solution. We have checked out appfolio and someone else recommended door loop but we haven't reached out to them yet.

We have about 57 properties and 145 units.  

Can anyone recommend a chat bot. We want one for answering/ directing listings and maybe more. Have about 135 units we own and manage. Something that can answer fb messages, zillow, ect.  

Hi, some of what you described is maintenance like the tree. Some of it may need to be capitalized. Depending on the cost you should be asking your account/ tax pro about the safe harbor rules. There is some leyway in being able to write off/ expense some stuff based on percentages of the basis and some other rules. My old tax guy was capping silly stuff like  $100 used appliances. New one just calls it a repair. I see you are in Eau Claire. Me too. Check out Grayham tax service in EC. 

Should be fun. 

Where are you located. My experience has been mixed. Some extra paperwork for sure. I find it depends on the agency running it. I have a great relationship with the Salvation Army that faciltates a number of programs in NW Wisconsin. I help them house people who need it. Typically get the top end of rent for the area. They help me with existing tenants struggling and trying not to set me up with overly problematic people. 

Buy the ones that make the numbers. I have a lot of both. One thing not mentioned yet is SFH will have a wider market when/ if you sell.

Quote from @Justin Li:

Quote from @Joseph Hammel:

One "hack" if you use a cc for expenses pay it before the statement posts. 

 Is that just a fast way to increase credit?

Yes, it makes the ratio of debt to available less. Supposed to be a bigger impact item. Paying the balance off every month is smart but it still shows as a balance unless you pay before it posts. It has an immediate impact also. 

One "hack" if you use a cc for expenses pay it before the statement posts.