All Forum Posts by: Matt Clark

@James Free Class A in Roanoke, VA, we require >649 for standard approval.

@Thomas Nance as others have said, it will truly be market specific. Since COVID-19 hit we’ve leased 40+ apartments at higher rates than the expiring leases.

@Anna Rynders we advertise on Craigslist, Zillow, and the property websites. We really haven’t done much direct marketing to businesses, but it would be a good strategy. We are close to a regional medical center, so we often get repeat customers from them: traveling staff and the family of long-term patients. And we just started advertising on Furnished Finders (a paid service), I think we got our first customer from that site this week.

@Rosie Sanchez this isn’t really advice, just an observation. In my experience, tenants who threaten legal action and fair housing claims are not to be worried about. They do that with no standing, and even if they do attempt to follow through with the threat no one will take their complaint seriously. Just make sure your manager continues to act professionally and meticulously document the facts.

@Anna Rynders we spend $4k to $5k to nicely outfit selected units in our apartment buildings, then rent them as corporate monthly rentals for 50% to 60% more than they would rent unfurnished. They must be located in a desirable area, and they require more staff time to lease, manage, and turn than traditional rentals do. But often it’s worth the extra effort.

@Ryan Braman no, I’m not sure. I’ve only used it for renovations.

@Ryan Braman and I should have mentioned: you’ll still be subject to the same codes and inspections as everyone else.

@Ryan Braman yep, it says what you think. I’ve used that exemption in the past by stating it on the building permit application.

@Paul Hanchard we manage a four story building with two hydraulic elevators that are ten years old. On average we spend about $1000.00 a year for inspections and repairs, and $5200.00 for a maintenance contract.

@Claire GD, everything looks in order. In this case the roofer used valley flashing rather than weave the shingles across the valley. If executed properly (and as far as I can tell it was), it’s the better way to do it.