All Forum Posts by: Nick Virovec

Thanks James, I appreciate the feedback.  I feel like you just try to make sure you are doing everything you can as a landlord to be proactive.  Is there a particular screening service you find useful for credit and background checks? 

Hey @Bob Stevens, appreciate the feedback. I don't think the question was so much about doing things right or wrong, but moreso wanting to breed any kind of discussion as it pertains to flex lease terms. Relative to the summer months, the amount of renters looking to move this time of year seems to trail off a bit.  If you are delivering rehabbed or turned product this time of year, do landlords out there think about these kinds of things or do they just try to lease at a conventional 12 mo rate?

Hey Lauren,

Assuming you have the lease set up to manage the utilities, set up an online portal account for NEORSD. Do the same for Cleveland Water too. As it was mentioned, the sewer bill will be based upon the water consumption, so go to the water online portal and Cleveland water has a tool to check daily usage, easy to see bar graph. You can see if there is or was a noticeable spike in usage. But for what you mentioned, that doesn't seem to be too crazy. Assuming the water bill is around 70 dollars for the same billing period. 

For any vacancy at this time of year, do you find it beneficial to try and get creative with shorter lease terms when prospective tenant traffic starts to slow? Or do you think being creative with lease terms in the Cleveland market is a good/bad idea overall? 

Interesting - do you feel like its a function of the state of the market currently? 

Yeah, definitely makes sense.  For something like market rental rates, where do you see yourself going to look at these?  For market trends, I feel like there are a lot of places to go, so I guess I was seeing if there's one people like more than others, or that they view as the most credible.  Appreciate the feedback Chris!

What's everyone's most credible source for researching market trends? How about rental rates? 

Has anyone seen any kind of owner financing anywhere on the west side of Cleveland? Or,any midwest markets out there where investors are seeing this?

Hey Jeff, 

In my property management experience, I was taught risk vs reward in these situations. If the documentation provided isn't legit, and they are in violation of the lease, its a considerably small win versus being wrong or asking them to leave when the documentation provided meets the crieria for a reasonable accommodation, which is what this is. So you can be right in a small way, or wrong in a big way and be subject to a fair housing suit. As the others stated, the verbiage of the letter is important. If it's legit, the pitbull is viewed as a medical instrument, and not a pet. That said, pet has to abide by any community rules, if you have any, and are able to collect any damages the pet causes. That's how it was always explained to me at least

Hey @Mariama Thulla, I saw your post and wanted to offer some insight on Cleveland since it looks like you have a lot of good info on Columbus.  Our investment strategy has taken us to the near west side of Cleveland, particularly 44109, 44111, and 44102.  The drivers for us are limited supply and cost of living is affordable - we feel this mix allows us room to grow rents.  It doesn't happen instantly but much like the appreciation in our market, we see it consistent and steady.  As someone that focuses on property management, we see steady and consistent demand for rentals - from studios all the way up to Single Family Homes.