All Forum Posts by: Patrice Ward

@Brandon Pelfrey

I cannot speak to the Treasure Valley directly at this time even though I reside here but I do have a two rentals in Bermuda and have long-term tenants. One being there for almost 30 years and the other 8 years. COVID has put the tiny island on lockdown on many occasions ( one lockdown ending today) and has not affected my rental income at all. It seems as though that mortgages being recalled is why apartments end up empty in Bermuda because landlords don't have reserves and uses the rent to live off of. There was also a call from the Premier for landlords to be linent towards their renters. I do not believe they had a moratorium per say. I am following this thread to learn more about the TV but it doesn't appear to be affected by Covid. If locals are struggling and having to leave their units, recent move-ins could be filling those units quickly.

@Tracy Streich That is my plan but wanted to check here first. Thanks!

Hello all,

I am currently using Stessa as my property management (pm) software. Its focus is the financial side of pm which is excellent, however, it does not possess features for maintenance logs other than my ability to upload my own completed spreadsheet for storage purposes. I looked here under File place -to no avail, and have begun my search online, but thought to search here as well. 

I am currently looking for a property maintenance log. I would like to keep track of repairs, installations, and product replacement forecasts. Does anyone have a template they are willing to share with me? I am willing to recreate it to match my needs if you do not wish to give an editable version, or if you can point me in a more specific direction on the net (other than general Google search keywords), to find one, that too may prove to be helpful. 

Thanks in advance. 

@Nathan G. This one was so good I had to forward this to my hubby! Great find!

@Charlie Moore

I wouldn’t offer a unit whether for cost or for free that I personally wouldn’t use or live in. If it’s not good enough for me it’s safe to say it isn’t good for them. As long as there isn’t anything broken or a hazard then essentially the unit is being rented as-is. If painting is a request, maybe offer that the tenants can paint walls only according to their taste but it must be painted back to the color it was or white, before move out. Tenants should clean and restore the property back to original condition upon move out. Maybe professional carpet cleaning, window and appliance cleaning just to ensure that the most costly items to be replaced are restored prior to new tenants move in. This will help maintain those items (if their in your unit).

Any additional work they wish to do on exterior shouldn’t be allowed unless for example they want to have a small garden box in the yard on the patio out back for example, or potted plants (that remain in pots) placed out front. I think those things are ok. There are simple changes they can do to make their space like it’s their home but they shouldn’t be wanting to make major changes as if it’s their property. No As-Is info is necessary. If you find that you have a load of people who like the area, price point, layout of home but doesn’t like the esthetic, then maybe try updating it a tad just to appeal to a broader range or better range of quality tenants. This doesn’t mean you have to update every tenant cycle. Just enough to keep up with the demographic of people renting in the area but, most importantly, enough for your home to be maintained well.

@Mindy Jensen Looking forward to watching this!

@Andrew B. Thanks for your response.

@Nick C. Thanks for your response.

Hello all,

My sister and I inherited a duplex in Bermuda with excellent long term tenants and at this time wish to keep it this way. I currently reside in the US and desire to further my REI career here.

This is the only property my sister and I own together and I do not wish to include her in my future endeavors ( no animosity, it's just not her desired field nor will she fit with me in business). We do not have an LLC on the property in Bermuda and at this time it doesn't appear to be an cost effective strategy to have one through a Bermuda based firm without multiple properties- although I haven't ruled it out entirely. The duplex cashflows really well for that area.

*I am aware that a detailed official discussion will still need to be had with an attorney I just wanted to get a general consensus to see if people have gone through similar experiences.*

Many thanks for your time and suggestions.