All Forum Posts by: Kristian Sexton

It seems like the problem you fell into was the slow season. I have some owners that fall into this season and I reccomend "odd" length leaases to get them back in the busy season. 

I do not recommend showing a property while a tenant is still in place. In my experience the more you bother a current tenant the worst they leave the property at move out. If you are showing a property before the tenant moves out and don't' know how long it will take to make the property ready are you advertising appropriately? 

Due to the market we are in, the better the home shows, the more interest it gets. Three years ago, any property would due, as long as people could get in and afford it, now every other property is a rental. There are so many people that show during the make ready stage and to set your self a part make your property the one that is actually ready for the next tenant. 

I would be more worried about the PM company than the tenant. Your Property Manager's fiduciary responsibility is to you as their client. If a tenant reported a gas leak to the PM their first call should have been to you. 

Who chose the vendor? Again if this was the PM company then this should be directed at them. some PM company's mark up their invoices. Most vendor's ask who is responsible for payment before starting therefore should have known it was professionally managed. Many don't need owner consent but work directly with your Property Management Company. Did you look up thei reviews or see if they have a website?  

Also, calling the utility company should also provide a sense of relief. 

How does your lease read in regards to utilities? 

Do you have before images of that the grounds looked like when you gave him the unit? 

I repeat what everyone else has said. Are you prepared with the knowledge of the law and how soon you have to respond and repair tenant maintenance request. There is a lot that goes into this such as how long you have to prepare tenant security deposits. 

Additionally an attorney can be ideal for a Lease Agreement.  What if you need to evict a tenant do you have an attorney on your side?

How will you decide how to place a tenant and what software with you use? 

Are you prepared to have a software that creates 1099's for vendors and prepare the write offs for yourself?

Are your properties in HOA?

There are so many things that people don't understand that Property Managers do. I would recommend vetting a couple of companies and asking what services they offer, and at what price. 

What are you looking for in a Property Manager? 

@Anne-Marie Singer That's a great first question. 

1. Where do you advertise?

2. I would want to see a copy of the management contract to see what other fees they are charging and if you get a percentage of them. 

3. Is the 22% a monthly charge depending on the vacancy? Is their a percentage they get for very fulfillment? 

4. Who is their maintenance team and how many do they have to support the turn on your listing? Do they add a percentage to their invoices?

5. What is their deposit liability for each stay and how is it dispersed? 

@Kristin Vegas a good Property Manager keeps and holds all invoices to send to owners. We have an owner portal where we hold all invoices for our owners. We also prepare their 1099's for each year for free. There is no reason a Property Manager should keep that information from you. What was the reasoning for not sharing the invoices? 

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