All Forum Posts by: Laura Sciarrino

Thanks!  

Thanks for all your comments.   Very much appreciated.    One more question - standard % for property management?  PM said 10% is standard for Rochester - even though they are managing  9 units for us - (1 4-plex, 2 duplex, 1 single).   We pay less in other cities where we have multiple properties - usually 8%.  

Thanks - that is what I was thinking.  

Question for those of you who are familiar with the Rochester market - we closed on a 4 unit in the South Wedge area in January and we've been sitting with 1 vacant unit since then.  At first, the PM told us we were in the slow season for renters because of winter.  Ok - but now, we are in July and the unit still sits vacant.    

So my question is what is typical to expect from a PM in Rochester with this type of situation.  We're starting to think the problem is with the PM by not recommending a rate adjustment, ensuring advertising is in place or finding out what may be the problem with the unit so we can address it.  

Before jumping ship to another PM, we're trying to better understand the market.     Best websites for listing a vacancy?  How seasonal is the rental market in Rochester?   

If we do need to move on, any recommendations for a reputable property manager?

BTW, the unit is 2 bedrooms, 1 bath and recently renovated.  Initial rent was $1000.  Other units in the building are rented for more.   

Thank you.  Lesson learned!

Thank you for the tips.  We finally tracked the guy down - he gave us some story about "not having time to evaluate the property...bs...bs..." but he closed escrow.    

Watch out folks, this guy is actively marketing in the Sacramento area.  Maybe something truly did go wrong but going AWOL is no way to handle the situation.  

Thanks again!

Hi There!  We've got a bit of a dilemma about a missing buyer and would appreciate suggestions, ideas, etc.

 We were  approached with an offer to buy a duplex we own near Sacramento.  The deal was reasonable - so we agreed -- contract signed, and the buyer opened escrow with deposit.  All seemed straight forward -until the buyer disappeared.  

Escrow was due to close at the end of October.   The buyer went missing a few days beforehand.  No response to voice mails or texts  and the escrow officer hasn't heard anything either.   Now we sit in limbo.  

The buyer  is a member on this site.  So I sent a colleague request the day before escrow was supposed to close (Oct. 30).  The request was accepted - so I sent an innocuous note trying to see if I could get the guy to respond.  Nothing.  

So of course we're scratching our heads - did the guy die?  Is he in a coma?  Is he a fraud (but if that were the case, why open escrow, make a deposit and disappear?) 

Any suggestions?