All Forum Posts by: Michael D.

Doesn't sound like she's trying to "build a case." I can't imagine her winning any judgements due to the wrong color toilet seat.

Just politely let her know that you want to keep the place safe and habitable - but that you can't cater to every whim. Also be careful not to imply that she can take care of these things herself: "...beyond that you're on your own..." or somesuch. The last thing you need is someone like this going around painting everything and moving walls and so forth.

I'm not too familiar with the way that title and ownership work with condos.

How is it possible that somebody else was able to sell their condo out from under them? If they own it - don't they own it?

No point in worrying - just working to improve your position every day.

You could ask for a 2 month credit at closing to cover the time it takes to get rid of the bad tenant.

You could ask the seller to pay the tenant to leave RIGHT NOW, prior to closing.

You could ask the seller to provide a large, refundable deposit to cover and repairs to the unit.

There are many good reasons for people to want to use credit cards for things - even rent, and even if they otherwise have plenty of cash flow.

Of course, that doesn't mean you have to accept them, for all above reasons.

The chargeback thing is particularly scary.

Don't forget the time, energy and MONEY involved in growing an REO practice that can manage thousands of homes - especially in this regulatory environment.

It's not so much getting smarter, it's just that it takes a lot time to get the right business processes in place. It's been years by now and they're finally getting up to speed.

I was thinking about splitting out the water meters on my 9-unit in the Pittsburgh area (PWSA) and called the water company about it. They explianed what I would need to do, but also suggested a much less expensive alternative: sub-metering.

I would install my own meters on each line, and simply divide up my water bill accordingly.

Since the idea came from the water company, I have to assume that this is legal, but how can I find out with certainty? My manager isn't sure about it.

Thanks!

As usual, the actual study isn't linked to so that we can draw our own conclusions - and they probably got the causation wrong or backwards.

Isn't it more likely that owners who feel bad about all that stuff are the ones who end up delinquent - not the other way around?

I'll say it again - property management is a job completely separate from investing in real estate. Some people want to do a property management job - I don't, and maybe you don't either.

To me the numbers you are providing aren't adding up. Option number 1 implies that he's getting $6000 (800+800+4400), and has a total of $19,000 in debt (800+800+4400+6500+6500).

Then in option 2, you're saying that he could pay off 800+800, plus half of 4400+6500+6500 = $10,300 total - not $6000