All Forum Posts by: Kurt Winsley

Resurrecting an older thread...we are in the process of purchasing at 178 unit facility. Easy Storage Solutions looks good from the standpoint of cost of the basic software. Just had a demo of StorEdge and it looks impressive as well, but cost is significantly higher. Any current advice, opinions or comments on the different software? I'd like to get a decision made, at least in principle, so I can set up my preliminary budget.

Originally posted by @Donta Busch:

@Kurt Winsley I really appreciate the insight

 Glad to be able to be of assistance. I'm still learning so much about real estate, it is nice when I find something I can give back a bit on...

Emergency heat simply engages the resistance heating strips as the primary source of heat, bypassing the heat pump. However, if the temperatures were cold enough that the heat pump wasn't able to keep up, the system automatically engages the heat strips to satisfy the users call for heat even when the thermostat isn't on "emergency heat". Additionally, the thermostats I install will engage the backup heat (resistance heat or gas) when the thermostat indicates a temperature difference greater than 2 degrees between the actual temperature and the set point temperature. For example, if a person uses a programmable thermostat and has the heat set to 64 at night, but 68 during the day, the heat strips will come on in the morning when the set point temperature changes from the night setting of 64 to the day setting of 68. Therefore, the three days may have increased the bill somewhat, but probably didn't double it. Hope this helps! Kurt Winsley

@Account Closed - Thanks for the update! I agree, hopefully the missionary work has taken top priority and not something bad.

Hi all,

Has anyone interacted recently with LandlordAccounting.com? My father-in-law uses this with Quickbooks and is trying to get me interested, but I can't get to the site to get any information about it.

Thanks!

Kurt Winsley

Thank you all for the responses! I will certainly think long and hard about this (and check with the attorney and insurance agent) before i make a final decision.

@Jonna Weber, I've been listening to some of Joe Fairless' podcasts as I have time, so I'll search for it on his podcasts. Thanks for the suggestion!

Originally posted by @Curt Davis:

Are there other things you can put in like a sand box play area or something a little smaller?  

 That's a good thought, I'll consider that a little more. I was indeed thinking about a heavy duty one, but they are expensive...maybe not the best since we're trying to keep the financials looking attractive. On the other hand, a cheap one won't last, I'm sure of that.

Originally posted by @Jonna Weber:

Yes, definitely discuss the specifics with your insurance carrier and lawyer and I would think posted signs of "use at your own risk" are a must.  If the answer is no,  remember that you are the one on the hook, not your manager.  Congrats on the purchase - sounds very exciting!  

 Thanks! It is exciting, but yes I am keeping in mind that I'm on the hook...that's not as exciting :)

The nearest park is rather far away, not within an easy bike ride or walk, so there really aren't many other options around.

"Attractive Nuisance"! That's the phrase that the former owner used when he referred to what the insurance agent had told him. Thanks for reminding me!

I continue to lament the litigious condition of our society today...so many headaches that we didn't seem to have to deal with even just 25-30 years ago!!!

Greetings all,

I recently closed a deal on my first multi-family apartment complex (18 townhouse, 1 single family). I have a resident manager in place from the former owner that I'm inclined to leave in place as he seems to be doing a great job. When I met with him for the first time as owner, he brought up a request to me that he had spoken to the previous owner about and was denied. His request was that we put in a playset of some kind for the children in the community. There are a number of children in the community (some of whom are related to the manager) and he wants to give them a convenient, safe place to play.

The former owner had denied it on the basis of insurance, but when we (the former owner and I) were discussing it yesterday, he mentioned that the insurance agent had been cautious about it, but not killed the idea completely. He hadn't felt comfortable with it, so he said no. Because of the way the deal is structured we are still under the insurance policy that he had in place (his is much less than we can currently insure the structure for).

The manager has offered to put the set in his backyard (he lives in the single family home) so it can be monitored easily.

What advice would you give me in this situation? I'm wondering if we'd be safe enough if he monitored it closely and we restricted it to residents and their guests only? I still need to check with the lawyer, but I'm wondering about posting signs that say something about resident and guest use only, etc... Maybe putting up a simple one that would be better than nothing, but not nice enough to attract the neighborhood kids??

Thanks!

Kurt