All Forum Posts by: Josue Vargas

Not a coincidence.  They were planning this for years, well before the SnowVid.  Design work started before that snow storm we got in Texas.  They have $ and people and customers and Land.  Not surprised.  

Last paragraph... 

"Also, if anyone could give me some information or advice on what the industry norm is for the property management fee or how I can collect the data I would greatly appreciate it. Thank you!"

Depends on the company, there are several options and fees. If they provided Real State services who required a broker, such as get the property in the MLS and find a tenant for you and sign a lease, yeah, that's the "first month of rent". In my case, it was 1/2 months rent due to market conditions. They will also charge you a first time fee for other expenses, initial reports, etc etc. Also some collect $500 for maintenance, which will go to a trust account. Money is yours, but sometimes contract says they can use it without your consent for emergency repairs (A/C, flooding, etc) or just general maintenance and they will use it, but talk to them about that if its the case. It really depends how the company management ideology is and if they have options for a more costume service. I was frustrated at first, being a landlord managing my properties for over 10 years, but heck, after hiring the PM, I sleep well. Not for everyone thought.

If you are looking for a specific area, city, or town, chances are house development are done by a few dozen (in big cities) or just a handful (in small cities).  Figure out who was the builder and his reputation.  The more you know about builders and litigations in town against the "not so good builders" the better.  Chances are, good neighborhood = good builder.  Look at how the house was built and look around the neighborhood.  

Hints:  Take a very close look at the attic spaces or basement (structure seems sturdy with little "why did they put this beam or support here, it seems odd".  Good contractors follow plans.  But also is not just about the contractor or builder, is also a matter of the architect company behind the builder - if that's the case.  Workmanship and materials are a big part of good quality.  

Just compare a custom house vs a cookie cutter house.  It really depends on your budget and what are you looking for.  Don't expect same quality for a cookie cutter house vs a custom house.  

A good realtor will know who are the good and bad builders in town.  Hopefully you know who built the house so you can do your research.  Other than that, the knowledge will come with years of experience and the more you look the better feeling you will have.  Not an easy task.  Good luck.  

Hire an expert.  Not a 2x4 and few brick fix.  Also, from one of your pictures, grading seems just good,  I bet it slope away from house as much as over 5%, but how knows.  Foundation itself being isolated by the metal rounded piece is a good sign, so grading may not be the issue, but drainage water from downspouts or other features may be.  Is there any level issues inside the house?  Looks like an older house (25+ years).  When was the house originally constructed and in what type of soil (embankment or natural soil)? Anything like 1" differential settlement I would be concerned. My best advise, like I said before, is to hire an expert for his opinion. 

I would suggest to contact your lawyer.  Make sure to address any communication coming form you directly to the owner of the property.  The contractor or builders executing the work may or not be the actual owners.  My main concern is ADA/ABA regulations for accessibility.  You need at least certain sidewalk width for accessibility/handicap access.  If they cut some of it and its non- compliant, then there is an issue.  Local court should resolve, 4-inches isn't much anyways (for them), but it could impact your existing pedestrian circulation for accessibility on your property.  

@Stone Saathoff

Decided to list.  So hot tub will remain in the property. 

In the past, I had a house with a pool and spa (not hot tub).  This house in particular is my first one with a hot tub.  I guess pools require a lot more maintenance than a hot tub, but pools last longer.  What I heard about life expectancy for hot tubs is about 15 years then hot tubs get to a point it needs to be replaced.  

@Bill B.

Craigslist will be my last option and will use it if I can't find a better alternative.  I contacted the dealer to see if they are willing to take it back.  I should hear from them later this week.  The property is not a rental now, I'm living in it.  It will become a rental pretty soon because I will move out and keep it.  

@Polo Vazquez

I agree with you, I don't want to rent the property with a hot tub.  I want to sell the hot tub even for way less its value.    The thing is I bought another property and moving out by the end of the month and rent this one I'm in now.  I don't want to get a vacancy for one month just to try to get rid of the hot tub.  Crossing my fingers to sell it sooner than later.  I thought of including a scheduled maintenance (which should be around $100/month).  With that I should get tenant who is willing to pay some more rent given other comparable properties without a hot tub in the area.  

Wondering what other landlords have done with properties with hot tubs (not AirBnB ones). 

Thanks for your input.  

Appraisals are just that.  An estimated value in your market with comparable houses that have been sold recently.  You can always request another appraisal and go from there.  You didn't say but are paying cash and negotiating with the owner or is the loaner/bank?