All Forum Posts by: Michael Henry

Great responses, 

Sometime landlords work out payment arrangements with tenants for security deposits, misrepresent that he/she received the security deposit, or did not receive a security deposit at all. Check with tenant if such arrangements are in place so you can have accurate proration at the closing. If the landlord represents that no security deposit was received; have the tenant(s) sign off on a letter stating that this the case. 

A growing group....

A growing grow of investors are buying and holding their properties in Land Trust. 

Each company is different, but most companies ask the owner to have a maintenance limit,  $0, $250, or $500. Any repair above the limit requires the management firm to contact the owner before doing repairs. In emergency, situations a firm will protect the property and make the necessary repairs without your consent.  

Industry standard is 5% of gross operating income. 

not knowing what you are going to get.