All Forum Posts by: Kristopher Hanks

@Kris L.

They will call it a contract, but you have a point. But in all fairness to them, I did not have to sign it and allow a voucher holder to move in. I got burned, and lesson learned. 

@Ian Tvardovskaya

It took a while, because they came back with a small punch list in the beginning of January 2017, after having to wait two months for the initial inspection. The final inspection did not take place until the end of February 2017. Tenant was able to move in the 1st of March 2017. 

@Ian Tvardovskaya

I have had experience with them. They are in no hurry to do anything (that's government, I guess). I learned a very hard lesson from them. As per their contracts with the landlord, they have the right to terminate or amend it at any time during the 12 month contract period. Two months into my 12 month contract with them, they decided arbitrarily, that my very poor single mother of 3 tenant, suddenly started to make enough money to afford a $1,063 per month rent. When in fact all she could afford was $97. But, through their infinite kindness they were willing to pay $367 toward that rent amount for the tenant, when they signed a contract with me to pay $966 of the monthly $1,063 rent payment. 

They did not give me any advanced warning that a financial review was going to take place and they were late notifying the tenant that they made this decision. She could not get away from work to go and file an appeal, which you only get 10 days to do. I was notified with only 3 days out of the 10 left. I tried to get a hold of the tenant to ask her to appeal, with not luck. 

The result, the tenant had to move out and walk away from her voucher. That left her and her three boys homeless. She had to ask a cousin to take them in until they could get another place to live that she could afford. 

They left me holding the bag. I received two months of rent when CMHA promised to pay 12 months. I told CMHA that I would be very wary of ever signing another contract with them. 

@Martin Grizzanti

I feel the same way and what you said is so true. I have pulled my hair out, but I have learned so much through experience. I can not put a price on that experience. 

@Ashley Hamilton

Thank you! That is appreciated. 

@Ashley Hamilton

What you accomplished is amazing. Well done. I invest in tough areas in homes under 30k. I have had some failures but that is part of the deal when you do this. I am going to use the same tactic that you employed. It is nice to see someone else's success. 

@James Wise

I believe James' company manages hundreds of properties? Maybe more? For someone just starting out you will pay $15 per month until you go over 10 properties, I believe, or something close to that. So the cost should be relative to the amount of business you are conducting through it. I do love their platform regardless of price. 

@Joshua Glesener

Rentec Direct.

@Brandon Arnett

Everything is a headache in this business. The biggest one for a hands-off owner is making sure the property manager has enough reserve cash from you to take care of problems without having to call you and collect more money from you for repairs, turnover and vandalism. Looking at your bank statement can be the biggest headache. 

@Jim Cran

Yes, they are always quick when they ask me for my rental registration fee every year. Everything else, not so much. Typical government.