All Forum Posts by: Ned J.

If you only have 1 or 2 units I dont see any benefit to using any of these platforms. I use them to market my properties but I collect rent directly via Zelle or Venmo and the $$ is in my account within a couple of days at most. I do all my accounting on other programs. Seems like an overall complicated platform to manage 1 or 2 units

Condo's also come with HOA's and those can be a HUGE nightmare.

You can likely pro-rate the rent, but you have to decide if its worth the hassle and pushback once you do it. For a weeks rent, it may not be worth it. Thats up to you

As for your PM "friend".... no one can tell you if they are a good fit or not... no one on here can tell you if they are rock star or a joke..... thats up to you to research and figure out. Just because you k now them on some personal level doesn't make them a good PM.

Let them go....get everything in place to turn it over quickly.... and move on

Obviously screening is THE most important, but even then, you never know until you know. Its all about mitigating risk.... you cant get rid of it completely.

Other things to do to put icing on the screening results...

Contact the second most recent landlord.... they will tell the truth... the most recent may lie to get rid of them

Meet them in person.... trust your gut during the interactions

Visit their previous residence if local... is it trashed?

Look at their car....is it full of garbage or decently kept?

Its like buying a used car.... you can never be sure what you may get. You may save some $$ or it may break down on you and burst into flames 2 days later

@James Wise @Carlos Ptriawan...... come on bro....the actual numbers are just to make a point...so ok... then what is the cut off for "the agent know their stuff but hasn't bought a home, so they have no clue what thy are doing"...50....100...200...300? 

So buying one home make you smarter and more qualified than an agent that has sold 50/100/200 homes and still rents? Am I smarter and better if I buy a 700k home vs the agent that bought a 50k home? What if I buy a condo? What if I bought a tiny ranch....can I sell 1 million dollar apartments? 

What if you bought a home and lost it in foreclosure? Do you lose your license? 

Grant Cordone still rents :)..... what about "Rich man poor man"........and I've seen quite a few "RE guru's" that claim that buying a home is huge financial mistake.... better to rent and buy money producing RE assets, etc etc....

Your point is that you a should have some first hand experience doing what you are having someone else pay you to help them do.. I get that..... but I disagree that you can't learn to sell houses without buying one yourself.

Aint going nowhere.... ignore, no contact and wait to deal with the police report that wont come

a lot... a ton.... off the charts.... not even close...

Check real comps in area

Agree with the above.... ALWAYS raise it a little. It sets the precedent that things will go up. If you wait, the next time will be a bigger jump and the shock and risk to losing the tenant will be higher.

It can be a small %..like 2-4% depending on how things have gone with the comps, but it should go up. If you wait, before you know it you will have a BIG gap and then the issue will be even more stressful. Don't kick the can down the road

Make sure the lawyer letter has something to the effect of "for your health and safety, we feel it is necessary for you to vacate the property. As you are on a MTM lease, consider this your 30/60 day notice that the lease will not be renewed at this time". Emphasize that if they are experiencing illness, its your priority to make sure their health is not affected and the only way you can do that is if they vacate the unit so you can properly and thoroughly mitigate the issue

This is  shakedown.....

Damage to their shoes etc.... that's what renters insurance is for... not your problem.

Mold remediation....90% of that stuff is a frickin scam. I would at a minimum get 2-3 inspections and estimates, with actual data of mold measured etc. Those companies ALWAYS make it a big deal. 99% of mold is non-toxic and unless they are "huffing" the material, they will be just fine.