All Forum Posts by: Kah M.

 I have a large PM firm managing my five properties for about seven years. During this time, we've had 4 evictions (2 inherited tenants, 2 tenant they placed). After the most recent eviction, we got the house rent-ready we got a tenant. After 5 months in the property, tenant stops paying rent with the most wild excuses (want to keep them private). 30 day notice was served and I did a quick Google search on my tenant to find out theres two Ch 7 bankruptcies (2019 and 2011). The PM company told me they don't allow tenants with bankruptcies in. 

I started sending info to collections so we could get some of the debt back once she moves out. Taking a look at her two week paystub, she makes 2x gross salary when the application says it requires 3x. They're not sure why this tenant was able to sign a lease. 

While the tenant was leaving, I guess they were in a rush so the furniture put holes in the dry wall, broke a ceiling fan, broken doorknobs, and damaged the siding of the house and gutters. Clear tenant liability which is why proof of renters insurance is required per the application. Turns out, they never confirmed she had renters insurance. 

I'm pretty much set in firing this management firm and hiring another one. Is this something the leasing agents or management firms E/O insurance or liability insurance would cover? This just seems like gross negligence. How should I go about this moving forward?

 Thank you for the kind words!

It was $1200 to replace the circuit board. I’ve been getting my furnaces replaced for 900-1300. My buddy who invests in the same area says he pays the same so I guess it’s a cheap market? 

 Very happy with that contractor. CO tests for $60, fireplace sweeps for $100. Prompt, professional and trustworthy. Couldn't ask for a better person to work with

 I've had emergency furnace replacements done for $900-$1300 by a licenced contractor+ 10-year warranty.  The circuit board needed to be replaced on a cold weekend and the contractor charged ~$1,200 for an emergency repair. I've told them to use my contractor for any emergencies from then on

 I moved away from where my properties are and am too busy to manage myself. I interviewed a few before I left and have backups. 

 All these issues happened in the last 6 months in chronological order. I've been with them for over 3 years. Which one in your opinion was the breaking point?

My property managers have been good overall but recently, they've been doing things that makes me question their judgment. 

• Billed me for an emergency furnace repair that cost more than replacing the entire furnace. My requests for an explanation went unanswered
• We had an eviction and the house was supposed to be clean and minor repairs made before a city inspection. I was told the work would be done before but all the comments made by the city inspector were the things that should've already been repaired (and the work was already charged in full)
• The house was placed on the market and rented pretty quickly. New tenants made simple requests which I approved. They paid a holding deposit. We stopped showing for 2 and a half weeks. On the morning the new tenants were supposed to move in, I get a notification from the utility that the bill was put back in my name. It turns out the tenants changed their mind because they didn't want to pay the pet deposit and wanted more work done on the house before signing the lease. I wasn't told about any of this. PM gave the tenants back their holding deposit
•  New deadbolts were installed on the vacant house for unknown reasons. We already rekeyed the entire house months ago. I explicitly told them to inform me before any work is done twice this year. 
• The house has been vacant for over 90 days despite their claim there are hundreds of requests for viewings. The house isn't listed anymore and I didn't get a response about why that is. 

The State where the property is has laws. Those laws are supreme regardless of where you incorporate. However, having the shares owned by a Wyoming LLC gives you protection from creditors. This is something I've been reading a lot about lately and plan to ask my attorney about it

Hi BP Canada! 

With the US dollar so currently being high against the CAN dollar, I was thinking about buying my next property across the border. I feel prices on this side of the border have become highly inflated and I could potentially get more bang for my buck somewhere in Southwest Ontario. I currently like working with SFH but I'm open to duplexes. Does anyone have any experience with cross border investments?