All Forum Posts by: Wendy Man

Quote from @Mark S.:

@Wendy Man Those are ridiculous costs. The PM should have a plumber on his call list that he makes a five minute phone call to. Pulling and replacing a toilet takes no more than an hour. and I’ve done a lot of them so I’m speaking from experience.

Hi Mark.  Do you manage your own or can you share your PM or plumber contact?

Thanks everyone for your helpful comments. And if you have recommended PM's for mpls please let me know.

Can you find out who did the work, and if they are licensed contractors with solid reputations?  And what the flipper's track record looks like.

Random idea - it may be worth checking your insurance (maybe look at your current dwelling policy if you have such) to see if it has any exclusions for unpermitted work.  Things that would worry me most are things that may cause fires.  Electrical panel is one.  Not sure what's involved in electrical baseboard and oil radiators. 

Hi Everyone,

What is a reasonable expectation of how much time it usually takes to coordinate a toilet replacement?  Our PM charged us for 2 hours of time for coordinating repair for replacing a faulty toilet.  This is on top of the plumber's charge of $400-$500 for the actual work and price of the toilet.

I think the PM had to read and respond to the tenants maintenance request, take 1 phone call with me for about 10 min to discuss the issue and for me to approve the toilet replacement, text me about the repair time, maybe a couple of phone calls and a few emails/texts with the tenants throughout the process, and probably a couple of phone calls with the plumber.  I think the tenants were able to let the plumber in, so the PM didn't need need to go to the property.  Is 2 hours a reasonable amount of time for this coordination, or is it generally longer or shorter?

The PM does not mark up the plumber's invoice, but does charge for the time to coordinate.

Also, what is an average price for replacing a new toilet in Mpls (including toilet, labor, any trip charges, etc.)?

Wendy

You said "location : San Francisco city and south bay"

Not sure what you mean by "south bay," but SF has rent control that you need to be careful of.  That may also be why it is under market.  The history of the rental may tell you more.

Some info Google pulled up about SF rent control.  YMMV!
https://sfrb.org/
https://sftu.org/rent-control/

Would agree with the others.  I would lower the asking price and pass on both.  

If you are to take either though, maybe consider a higher security deposit if allowed by local laws.  And if you are taking the second tenant consider running check on the dad also and make sure he signs on the lease, and checking that he is actually moving in with them and not just on the application to help them qualify.  Luck.

I would suggest you review his lease, including any Section 8 addendums to his lease.  Then, ask his Section 8 case worker what the requirements are.  The rules vary by locality.  Some housing authorities may require new leases or renewals in a case like this (and it sounds like you may or may not want such, especially if there is a minimum term involved).  If anything is unclear, you can also cross-check with what the requirements are posted online for that local housing authority.  Luck.

You probably want to ask the attorneys you are interviewing this question to be certain. Many attorneys are members of the bar of multiple states.  Also, depending on what exactly you need the attorney to do related to the transaction and where, some of the tasks may involve practice of law and some not.  Luck.

Quote from @Muhamed Abd.:

Quote from @Nathan Gesner:

Quote from @Muhamed Abd.:

Your family thinks they are saving money by hiring you instead of a professional, but it's going to cost them money in the end. I work with Landlords all the time that managed their own property until they finally burned out. They gave their properties to me, I turned them around, and now the Landlords are making more money than they ever did before, even after paying my fees.

Why kill yourself? Hire a professional that knows what they are doing. They have leases that comply with the law and are enforceable in court. They have policies and procedures in place to keep tenants on track and prevent problems from growing out of hand. They understand the market and can get your units rented for market rates. A good property manager will increase the income, reduce the losses, all while protecting your time and sanity.

 You make good advice but I kind of wanted to do the software management part because I am kind of the family's techie except I am not sure which software PM use. My family is not new to this btw I just wanted to move into the 21st century over the way they are doing it like in the 1900s.

I once looked for a property manager and heard the service fees is outrageous 10% and I am not sure if this includes costs of fixing and renovations or legal representation. I am also not sure if they are going to get my any new tenants or just keep leeching on whoever I still have. I also feel the percentage cut is not a fair deal. Suppose I have just 1 property that is rented for $10K , at 10% the PM will be making $1000 just collecting the rent once a month? doesn't sound right.

I once hired a lawyer in a case that I won and I was paid compensation that was paid in monthly payments and had agreement with him that his fees with be deduced from it. After sometime I realised the lawyer has been continually taking a percentage cut even after his total fees have been covered. After I pointed him to that, he said he will reimburse me next month. Next month he forgot to reimburse me the money he took and I had to remind him again.

So yeah if a lawyer can do this who is supposed to be defending me, I am very skeptical of letting a PM run the show and I wait as I receive the rent. Especially that there is a lot more money flowing around with a PM. There is also the case in which he can extra charge me for papers and renovations costs. Something that can be fixed for $200 he will do it for $800. What do you think?

yes its a choice between being burned out and trusting a PM, and the PM fees. If a PM percentage fees reach $5K or more a month maybe I could hire my own employee?! What do you think. Advice is appreciated.

You didn't ask this, but in case it is helpful.  Sorry to hear about the lawyer incorrect billing issue.  If that continues to be an issue (the lawyer refuses to refund you the amounts you are due), you can try contacting the state bar.  A state bar can revoke or suspend lawyer licenses for that state, and generally take ethics (including billing) very seriously.  

Can try Adult Protective Services in your area.  Would suggest emphasizing that she fell and wasn't found for _two days_.  APS's scope include neglect issues too (which this could fall under).

There may also be other resources that can check on her (e.g. does the city provide services, does she belong to a church group that already provide such support to members -- with their permission of course).  Not sure but these others may need to be requested by her or someone who can speak for her, such as her children.

Luck and wish you all the best.  She's lucky to have a caring landlord and neighbors.