All Forum Posts by: Account Closed

Forresidential property management go to www.NARPM.org

 This is the national Association of residential property managers.  You can  see what members are in your area and if they hold designations like residential management professional or master property manager.

 It's the best way to find a good property manager.

Hello Kris,

 I definitely see about  Renegotiating that bill with the plumber. we manage over 800 properties and I've been in the business for over 30 years and we've never had a clogged line come close to that amount.  If the plumber is not negotiable you may want to go to his supervisor and if that is not an option, I would inform him that you'll take the matter to the BBB and see if he'll settle before you had to do that.

  When you go to invoice the tenant I would let him know that they have 30 or 60 days to pay that amount or you'll deducted from the rent.

Yes, the rent should be prorated on the HUD at closing.

Also, you should collect a tenant security deposits at closing.

First, you should instruct any vendor that goes out to the property not to communicate with the tenant any of their findings are what needs to be done to correct the problem they work for you and not the tenant.

Also depends what your lease agreement says about plumbing clogs. 

If the plumber will put it on his invoice that there is no way that this is residual matter from before our lease agreement says that this is the tenants expense.

I would talk with the plumber about reducing the $600 bill because it looks like he may have inflated it because he was angry.  I am thinking that bill probably should be about half of that, so you might want to split it with the tenants.  

I am sure it is not worth the trouble of trying to file for an eviction as an eviction can be costly and take even more time.

What does your lease agreement say?

If we have a tenant that fails to vacate the property when they are supposed to, they go on holdover and the rent during the holdover is three times the monthly rent calculated on a daily basis and is immediately due and payable daily.

I find once tenants have to pay triple the rent amount on a daily basis they are usually able to move out a little faster. 

We pay our owners via ACH which is far more efficient than mailing checks.

You may want to talk to some other banks as some are more ACH friendly than others.

Were getting ready to switch to a bank that does not even charge fees for ACH.

I have seen this in several other posts where owners leave furniture behind and it is destroyed by the tenants and then the owners are upset.

The only time to leave any furniture behind is when you are leasing a fully furnished property and you have a company that specializes in handling fully furnished properties which are few and far between.

Too often I see owners that want to leave just a few pieces of furniture and then want to leave things like lawnmowers, weed eaters, pesticides  and playground equipment for the tenants use.

You can be sure if you leave furniture behind it is going to getting damaged or end up missing.

Leaving yard equipment and pesticides behind for tenants use opens owners up the huge liability. If the tenant or the tenant's children or pets were to get hurt on the yard equipment or pesticides the pending lawsuit can be staggering.

If you have excess furniture or yard equipment sell it, donated or given away.

Check out LandlordSource.com they have THE PRACTICAL GUIDE TO BUYING AND SELLING PROPERTY MANAGEMENT $130 

Also includes contracts.

If you do not follow EPA rules and regulations regarding properties built before 1978 you could be opening yourself up to substantial fines and penalties.

If a child were to come down with lead poisoning and you did not follow EPA rules and regulations and provide the proper documentation or use EPA certified contractors when required you can be opening up yourself to a multi-million dollar lawsuit.

I would encourage you to familiarize yourself with all EPA rules regarding lead-based paint disclosure and learn which repairs have to be handled by EPA certified contractors, before handling any properties built before 1978

Yes I would consider it. I would  make the contract contingent on my inspection and a license  inspectors inspection. 

 You need to get all the facts to determine if it's an excellent purchase or not.