Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: PJ M.

PJ M. has started 7 posts and replied 170 times.

@Sara J. that is correct unless you are accepting housing vouchers (part of the Section 8 program).

I'm assuming you're talking about the local agent needed for the Housing Rental license.  If that's the case then the landlord can do everything themselves.  The agent needed is only as a legal local representative for document receiving.  They don't even need to be a broker.  See point #8 on this FAQ https://business.phila.gov/media/81-900-Housing-Rental.pdf

If you're going the Section 8/Housing Voucher route, then it is different.  If you live more than 25 miles  outside the city you need to have a certified rental agent or property manager that is local to the property.  See Note at the bottom of this page.  http://www.pha.phila.gov/housing/housing-choice-voucher/landlord-information/how-to-become-an-hcv-landlord.aspx

Post: Deferred maintenance w/ inherited tenants.

PJ M.Posted
  • Philadelphia, PA
  • Posts 174
  • Votes 123

How good are you with your DIY skills?  Is that 2-3 days accurate for your skill level or is that a ballpark based on what you read it should take?  Will the repairs take the bathroom completely out of commission?  

If you just read that this should take someone 2-3 days and you aren't an experienced DIYer then follow Murphy's Law that it will take you longer.  Estimate at least another 40% of time.  So we're looking at 16-24 hours of pure work (2-3 days at 8 hours per day) then bump that up to 23-34 hours of actual work.  If you were thinking of 2-3 days working 10 hours per day then I'd consider it more like 28-42 hours of work.

it's going to take the bathroom out of commission for that entire time then it might be worthwhile to see if a pro can get it done in less time.  If a pro can get it done in a day it might end up being a money saver.  Taking the bathroom out of commission for that long would make the place uninhabitable.  

If the bathroom would be able to be used safely while the reno is going on, I'd just offer the tenant a bit of a discount for the inconvenience.

Post: Squatter- will you please help?

PJ M.Posted
  • Philadelphia, PA
  • Posts 174
  • Votes 123

@Mary Jay the problem you have is that you don't know if you have a squatter or a tenant.  You're asking for advice which may not apply because you would need to prove you have a squatter who moved in to the unit and has not yet established tenancy.  However, your only proof seems to be "I was told it was empty".  You saw the place with a tenant, and we told it was empty but apparently didn't do a walk-through before closing?  

All the occupant has to do at this point is say "I've lived here for months" and how can you prove otherwise?  You can't even say for certainty that the place was empty when you bought it.  I'd start with the seller, get something in writing that the place was indeed vacant.  I'd talk to the occupant and see what their story is.  Then after you have facts, come back for some advice.

As others have mentioned you should lawyer up and get things done correctly.  You started down that path but getting them to agree to be out by a certain date.  however, when they didn't get out you can't just change the locks.  They never returned possession to you.  They said they would (by signing the form) but until they actually move and take their crap with them, they are still tenants.   Changing locks is considered a self-help eviction and is very illegal in most (if not all) of the US.

The cops were right on with the part about not enforcing contracts.  Cops handle criminal issues.  Contracts are civil issues.  Courts are generally split up the same way.  Unless you are in a small jurisdiction there will be civil courts which handle contract related things and criminal court which handle crimes.  Just imagine what it would be like if the cops came to your house because you didn't pay your hospital bill or because you were late on your credit card payment (they're both just contracts where you agree to pay for services).  The cops would have their hands full.

As to why they didn't arrest the tenants on the warrant charges, who knows.  It may have been because they were worried you would take more illegal action (you did change the locks after all) and gave the tenant a break.  Ultimately though, only the cops that were there know why.

Post: Audio cameras in common areas

PJ M.Posted
  • Philadelphia, PA
  • Posts 174
  • Votes 123

@Sami Gren What Kelly is basically saying is that recording a conversation that you aren't a part of is illegal.  If you have audio on the cameras then you will be recording conversations you aren't a party to.  Video becomes one of those "there's a risk" type of situation.  If you record a conversation in sign language, you have recorded a conversation you aren't a part of., which is illegal.  

So simply having cameras is not illegal...recording a sign language conversation in.  Having audio on the cameras is not illegal.  Recording conversations of people is illegal.  Semantics, but how it is.

Post: What programs do you use for bookkeeping?

PJ M.Posted
  • Philadelphia, PA
  • Posts 174
  • Votes 123

I'm old school.  I use Quicken home and Business for tracking.  I only have a few properties so it's easy.  I'm able to keep my personal finances and my business finances all in one program for tracking.  It syncs with my bank accounts so I can see when payments are made, etc.  With multiple bank accounts (personal, business, escrow for security deposits) it's nice to have everything in one spot.

The way I set it up is that each property is set up as a "project".  When rents come in or payments are made they are tagged to that project (property).  When I want to see how a property is performing I run a report on the "project" and get a detailed P&L.

Post: ACH payments vs Cozy payments, any downsides?

PJ M.Posted
  • Philadelphia, PA
  • Posts 174
  • Votes 123

It's not just Cozy but any 3rd party payment processor that allows credit cards to be used.  There are some, Tenant Cloud I think is one of them (not a customer of theirs), that I believe lets the landlord set up whether they want to accept credit cards as a payment option.  

I think you'll start hearing horror stories of accepting 3rd party processors and credit cards more and more.  Paypal was the golden child when it first came on the scene for online payments.  Now there are horror stories galore how they side with the buyer and not the seller on lots of things.  If they get a dispute from a credit card company, they operate very similarly.  Even they have the direction of "We don’t initiate or handle chargebacks – the buyer's credit card issuer does. So that process follows the issuer’s policies. We also don’t judge the validity of a chargeback; that’s the responsibility of the card issuer. Our role is simply to collect information about the transaction and help you work with the card company to resolve the chargeback."  If that's not a "we'll try to help but it's all on you and out of our hands" answer I don't know what is.

Good screening will help but, as any experienced landlord will tell you, a good relationship can go south easily.  A miscommunication, misunderstanding, or unmanaged expectation of a situation can cause a tenant to feel like they have been wronged.  Just imagine if that tenant can then go back to their credit card company and dispute a charge because they feel the service was unsatisfactory.

I'd let them move it in.  Where I am the fridge is generally not supplied.  I have a couple where I have had the refidgerator left over from buying the property.  I leave it there and let the tenants know that it is not included as part of the rental.  If they ever wanted to replace it they can. 

The bigger concern is that you said they blew through their repair deposit.   Security deposits are for repairs after the tenant moves out.  Any repairs done while the tenant is still there should be billed to the tenant immediately.  You should address that quickly.  If they have money to buy a new fridge when they have a perfectly working one, they have the money to pay for the damages they caused that needed repairs.

Post: How to fire an employee?

PJ M.Posted
  • Philadelphia, PA
  • Posts 174
  • Votes 123

If that's the case, you should speak with the new property management company and coordinate with them on how they want to handle the transition.