All Forum Posts by: Mike S.

I'm curious if anyone has thoughts on either/both of the Apartments.com Rental Manager or Zillow Rental Manager. I think the Apartments.com one used to be Cozy and it seems like it has additional functionality (especially around maintenance requests)

Second question: Anyone used the applications feature (credit score, background, eviction, criminal, etc) of either of those two sites? I was kind of set to use the Apartments.com one because it seemed more robust, but all of my listing's interest is coming from the Zillow site and I'd hate to have to refer them over there.

Appreciate the help!

@Julie Hartman @Matt M. @Brent Christensen

A couple more questions for you with a quick hypothetical scenario to better explain: To keep numbers round, if my end goal is to receive $1200/mo ($1000 for rent and $200 for utilities)

- When you charge "rent" - how are you advertising/verifying someone's income? Do I advertise $1000 rent with $200 utilities or just say that rent is $1200?

- Is Rentometer only going by the "rent" number or including the utilities as well?

- When I'm doing the Income 3X Rent rule, do I use the "rent" number or "rent + utilities" number?

@Julie Hartman

Thanks for the pointers. I think there are some key differences on the vacancy point though. With you being a property management company, it's probably a bit more realistic for you to get a handyman in and out the exact night you need him. For small potatoes like me, I've found that the cupboards seem extremely bare when looking for contractors. Since the pandemic started, most of the ones I've tried to hire, for other purposes, either are booked up or barely want to give the light of day since doing a small job like this is probably barely profitable.

• Hello everyone -
  
  I'm still a newbie to being a landlord (first time transitioning from old tenant to new) so I'm hoping some experienced people can help with how to transition from old tenant -> vacancy -> new tenant quickly without cutting corners on vetting.
  
  Situation:
     - Recently renovated 2 Br, 1 Ba, ~1100 sq. ft. basement unit of up-down duplex just south of Denver. I inhabit the top unit.
     - Tenant was excellent and will be in the property through the end of March (Started 1/20) - having her draft up a written notice saying she's leaving. Have a good relationship with her (would definitely be a reference) but moving out because she wants a place of her own.
     - Don't anticipate many, if any, repairs other than nail hole and minor paint touch-ups
     - Written into the lease that I can have prospective tenants visit while she's still there (with notice)
     - There is room to increase rent by at least a couple hundred dollars/month (I made several improvements in the time that she's been
       there) and it will still be reasonable
     - She said she has a friend that may be interested in renting it

• Primary Questions:
     - The most interesting thing to me, at this point, is the friend - she is familiar with the property and may be able to move-in quicker than someone new (Disclaimer: I have not spoken to her yet, just spitballing). However, she obviously will know the old rent price, making it harder for me to raise the prices to what I think I could get. If she passes background, etc., is it worth a smaller raise to limit vacancy and go with a better known commodity?
  
    - What type of person/people should I look for that might stay in the property a bit longer term? It's in a great location - walking distance to grocery store, great bars/restaurants, concert venue and a light rail station that can take someone into Denver, etc.
  
     - Showings: How do you typically handle the balance of showing the current tenant's space to a new prospect? She's neat, but is it weird that it's filled with someone else's stuff when they're looking at it? How do you talk with the new prospect about it?
  
     - How have you handled the transition, timing-wise, from old tenant to new? With her leaving on March 31, it's not like I can just put someone in there on April 1st without doing the minor fixes, cleaning the place, etc. Right?
  
     - What are other logistics I need to know about that I haven't mentioned (i.e. move-in, move-out checklist timing, etc.)?
  
  I really appreciate everyone's thoughts and, if you've seen a good post of this topic before, I'd love the link to it as well.
  
  Thanks!
  

@James Carlson

From the name and a quick peak at their website, I see they specialize in millennial finances. I fall into that age range, but I'm curious how you feel their services cater more to that audience.

Looking for a financial advisor in the Denver area that is well-versed in real estate investing and knows how to build that strategy into an overall mix. Can anyone recommend someone knowledgeable and trustworthy they work with?

Thanks!