All Forum Posts by: Peter Loudis

@Bill Ward

What’s typical for your competition/market? If you haven’t received any complaints about it or have safety issues, I’d leave it. I’d rather put that money into interior updates like the kitchen, bath or flooring. If it’s ugly, maybe you spend some of the money on landscaping and seasonal color- that would go further in my opinion.

@Nick Louie @Joe Norman  I second what Joe Norman said. I can only speak to representation in Texas, but this is a very typical agreement for Buyer's Representation.  Professional Service Compensation with a time period with an expiration date. 

I do what Joe mentioned, and let my buyers know should there be a situation where the property/seller is not covering my professional service fee, and then ask what they would like to do.  There was discussion on one of the BP podcast episodes about working with an agent vs getting your license that touches on this same concept. The expertise of an experienced buyer's agent working for you, you will likely negotiate more than whatever the professional compensation for your agent is. The truth is, if it is a good deal and the number make sense, everyone will win.

Speaking as an investor and real estate agent, both parties need to be motivated for a successful relationship and transaction. Especially when good agents spend lots of upfront time, energy and expertise locating, networking and negotiating deals for their clients. In Texas, a signed agreement solidifies the fiduciary relationship between agent and client, and in my opinion, both parties are much better served.

We haven't had any issues with tenants using the app. We still get text messages and emails sporadically, but with encouragement and training, the tenants are getting the idea that the RentRedi app is where all maintenance requests, payments, insurance upload, etc take place.  It's pretty intuitive, and I get the feeling our tenants appreciate having one place to go, everything is logged and in a centralized place. Makes it way easier on the backend for us.

Maintenance and repair notification is somewhat simple, but I think it is a vast improvement from chasing down emails, texts and phone calls. It is documented in the app and sends you a notification (depending on your settings). The tenant can upload a video too if needed.  There is no reply function within the app(yet!), but you can mark as completed once the task is done, and you would need to manually reach out via phone or text to coordinate.  That said, I know RentRedi has the ability to outsource the repair/maintenance requests for a fee with a parter service.  We have a team and trusted contractors so we don't use/pay for that feature.

@Randall Demary

I would try and make room for a compact stacked or stackable W/D if possible. Possibly lose a little cabinet/counter space in the kitchen or frame out a small closet (depending on your space). A new unit with a full coverage warranty and/or find a good appliance repair guy is recommended. Whirlpool has a nice stacked unit if you can find one. Other option would be a bit costlier, you could install under counter front loaders. Bosch makes a nice set but quite a bit more if purchasing new.

@Brian Lepo

Awesome! I’m in a similar situation with 620 SqFt 1 bedroom with living room. Trying to determine to keep window units or add mini splits.

@Brian Lepo

What did you end up installing on these?

@Alexander Szikla I was going to say this same thing. So many people I see posting about Stash and Robinhood, etc.

Hey Scott, I just started using RentRedi as well. So far so good. It has been easy to collect rent, communicate, etc.  Can't beat the price and customer support has been phenomenal.

@Peter Loudis unprofitable**