All Forum Posts by: Katrina M.

@Deanna McCormick

What an interesting case with the apartment complex and drug dealer killed!

Would you mind sharing what kind of complex it was (A/B/C/D)? Was this the only drug-related incident or were there more?

I am asking to understand why people stayed after or if they weren't surprised at all because they knew what was going on in the complex. 

@Angela Kriv

Angela, I so feel for you. While I am only planning to go into property management, I still wanted to share with you a bit I do know.

You mentioned that the tenants had just downsized. Were they homeowners before? Anyway, since they are in a new situation they probably are too anxious and don't know what's the best way to resolve their fears.

It could be worthwhile sitting down with them and talking through this situation. Find out what their thought process is, what they think they are entitled to as tenants, what they think your responsibilities are. Then you can explain them or, better yet, help them see for themselves that the best way to fix broken things or anything that's causing an issue is directly through you. You can show them what you plan to do if their oven breaks down, if they have electrical malfunction, if plumbing issue comes up, if neighbours disturb them etc.

You can ask them about their biggest concerns and tell them how you will act if something like this comes up. 

Most of the time miscommunication is the cause of trouble. Communication on their part may not be perfect. They have already shown that they aren't good at it when they called fire marshall. So your role will be to set out the rules of communication and also set the example.

For instance, if they complained and you called electrician, you let them know an electrician is booked. Preempt the tenants' questions and worries. Be the first to communicate the progress.

In my current profession (architecture) communication is the first thing that can hold a project together. People lose clients due to poor communication. I just saw a builder lose $400,000 project to another builder simply because the first one was slow with his emails and very short when he did send them out. Clients could not decipher his abrupt emails and just chose another builder who did not leave any room for confusion.

Please keep us posted!

@Samantha Smalpage. It's not really a referral. I haven't worked with Lindsay. :)

Jeff, do you mind me asking why you have to call? Is email not an option? 

Hi @Samantha Smalpage

A few years ago there was an influx of companies offering turn-key investing in the US. I haven't heard about them since that much.

You might be interested in talking to @Lindsay Stewart.

Thank you for the detailed reply @Steve Rozenberg.

I can see why you want leases properly documented. 

I liked your website. It has a lot of information and preempts many questions your clients may have. Unfortunately, I did not find a news release about your participation in a conference in Australia. Would be interesting to learn about it and your future events.

@Russell Brazil Russell, could you please expand a bit on why low cap rate indicates low risk? Or maybe point me to where I can read about it. I am still confused about two cap rates - the one to be calculated for each property and the one that real estate agent can provide for local market.

@Mohammad Haidarasl If you are still at uni and have time, maybe you can join local broker or even MLS as an intern?

@Rick Santasiere Thank you for posting this wonderful video! It is really cool and I love what this contractor says in the end: When I'm done your house is sellable.

@Dani So true!