All Forum Posts by: Matt Sullivan

I remember reading a blog post a few months back that someone had written about using a third party website that helped reduce their vacancy rate significantly because it would reduce pricing to entice more people to possibly choose your rental. I can't remember the article or who wrote it. Can anyone share this website or the blog article?

I usually do pest control every six months for our house in Texas.  However, I have learned from one tenant that if I allow them to have pets, then they will pay for a final pest control/flea bomb and provide me a receipt as proof.

Originally posted by @Dale Shin:

I would check out your local realtor association to see what commercial real estate classes they offer and take any property management classes they offer.  The instructor will probably be an experienced property manager/broker/owner, a good person to know.  Others taking your class will be like-minded and a good networking opportunity.

Try to get a copy of a standard commercial lease used in your area, study it noting any questions and take them to the class to get answers.

Great advice.  I need to expand my network as well, so this will help accomplish two goals. 

How do these websites work when you have multiple properties/owners?  Do you have separate accounts set up?  Do you have automatic drafts set up to pay rent to the owners and your fee automatically comes out to you?  Do your sites have options to tack on late fees?

Good to know that apartment buildings are still similar to residential.  I'll look into the SC laws to determine if there is a requirement for onsite management.  If we do go full commercial, I think we will buy and self manage to learn and then expand to others' properties as we build our skills.  

Thank you for the information guys! I will start my research on these topics.  I know I have a lot to learn before I jump into the larger commercial real estate.

So what do you recommend for back end infrastructure?  It will initially be some small mom and pop business, but eventually I would like to own some commercial real estate and manage that.  Just looking for people with experience that can give some advice.

Jordan, I appreciate the blog call out.  I have seen that blog, which is why I am asking the question if anyone on here has experience with using those websites.  Kind of a pros vs. cons of using one of those sites or just using your own business checking account.

Can you expand on what "NNN leasing" is? So California actually has a law that requires on site management for greater than 16 units? Where do you find out that information locally?

Has anyone had any issues using online rent payment websites?  My wife and I are looking to start a Property Management company for both our rentals and others.  I'm trying to figure out if is just easier to open up a local bank account and have tenants deposit in that account, or go with something like RentPayment.com, that allows tenants to pay via credit/debit card, ACH, or cash and they can use their phone, web, or drop cash in person.  Thoughts?

Also, I have heard about automatically pulling rent from tenants.  Not quite ACH, but tenants give you access to their checking account, and if they don't have the rent in the account, then you just charge their credit card.  Anyone heard or use this method?  If so, how do you set that up?