All Forum Posts by: Peter Sik

It shouldn't take 2 months to get a property rented if the price is right (which is sounds like it is). Try calling them from another phone to see how responsive they are to potential tenants. Also find out where they are advertizing....I'd also think about trying another PM.

Thanks, I know where they post and is responsive. As it is sitting here for 2 months, they need to do something for promotion. So I asked to host open house and said no such service nor advise anything. Just said there are lot of properties on the market and people have choices with new flooring, painting.... Yes, I studied those properties, their rent are higher.

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Quote from @V.G Jason:

Quote from @Peter Sik:

i have a rental property at Murrieta, CA sitting in the market for 2 months, the condition is good and the rental price is at the lowest. Have requested my PM to host an open house but they do not offer this service. Want to know what should i do to get it rented. thanks

It's a winter market, so likely slower but even so for 2 months to be sitting the PMs need to be more proactive. You need find a better PM and re-do this, in my opinion. Likely off in price, but could also be a more advertisement. They should have told you around Day 10, hey leads are low from what we are seeing and figured out how to adjust. No later than 3 weeks some firm adjustment should've been done.

Find new PM, one that's proactive!

Thanks for fast reply. At the very beginning, the PM wanted to list BELOW market price, I didn't agree. So it was listing at medium to high market price until now adjusted to lowest market price but still higher then their suggested price. I mean with such PM experience, what they can only do is lower the price under market price to get a tenant? Where is their marketing skill??

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i have a rental property at Murrieta, CA sitting in the market for 2 months, the condition is good and the rental price is at the lowest for 4 rooms house. Have requested my PM to host an open house but they do not offer this service. Want to know what should i do to get it rented.

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PM sent Security deposit disposition without mentioning the "pay by date" to the previous tenant. Saying the following:

"Regarding the security deposit disposition on xxxxxx .Although not mentioned specifically, the amount due is due immediately. The courts when challenged here will allow 30-days upon receipt to make payment or agree to payment arrangements. Along with the Disposition Letter, the previous tenant also receives invoices that relate to the balance due. Since this is a large balance due, filing with a collection agency should be a good option."

It doesn't right to me with no due date mentioned. Is this PM not doing right or it just like this in Alabama? In CA, i would just put a DUE DATE for everything. Thanks

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Montgomery, Alabama

Quote from @Michael Smythe:

This PMC seems to be doing what's easiest for them, not what's in your best interests.

@Michael Smythe sure is

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Montgomery, Alabama

Quote from @Grace A.:

I’ve gone through a few PMs in Montgomery, and similar situations. I now have a PM who is excellent but I’m also starting to focus on purchasing investments closer to where I live so I can self-manage.

@Grace A. Could you please let me know which PM?

1 Vote

Montgomery, Alabama

BTW, I feel the PM is lazy. They do not care much, all they want is I pay for everything without telling me the progress going on unless I asked. Not to mention tell me what is the option on what to do for that ~$6000. So, I am on my own now.

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Montgomery, Alabama

Quote from @Julie Hartman:

Assuming the PM is accurate with their assessment of tenant responsibility, it may be worth going after them. If your PM knows where they moved to, have them send an itemized invoice and see if they pay it. They probably won't. You could also try your luck in small claims court. If you don't know where they are then you can try sending it to collections. A collection agent should be able to locate them and do all of the legwork. They will take a cut of what is recovered but something is better than nothing. If the tenants are employed, a judge may order a garnishment. We've had good luck with collections. Failing all of that, you may have to let it go. Good luck!

@Julie Hartman Thanks so much. The tenant did not pay for last 2 months of rent, I don't expect they are willing to pay for the ~$6000. Want to know when PM sending out the letter/email of the security deposit disposition to the tenant, does PM suppose to mention a date they should pay before a specific date? If yes, within how many days? Along with payment instruction? Along with all invoices?

Before going to the collection agent, do I need to through court first to confirm the amount is valid? Or I can contact collection agent now (maybe wait for 2 months to ensure they are not paying)? Again, thank for your advise. This is not the first time happening to me this year, I got to do something to protect myself and learn through.

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Montgomery, Alabama

Tenant moved out, according to the security deposit disposition from PM that they own ~$6000. This is including last 2 months of rent, repairs, hauling big size trashes and cleaning. As of this amount and I live in CA, is it worth for me to this chase debtor? If going to chase, how does it work out there? Looking for advise, thanks in advance.

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Montgomery, Alabama

Quote from @Theresa Harris:

Quote from @Peter Sik:

I didn't check my rental income every month, Now lesson learned, I usually check all rental payments every 3-4 months.

First $3900 to paint the entire house-does it really matter if the tenant should pay or not, they failed to pay two months' rent, you will never see that money. Hop on a plane and visit the place in person and get the repairs done.

Your PM should have a system that automatically mails you your monthly statement. You shouldn't have to log in to see what is going on. My PM emails me (well his software does) around the 15th of each month to let me know what's been put in my bank account and if there are any expenses

@Theresa Harris @Nathan Gesner Yup there is the funny part. They have owner portal, i need to login to check my monthly statement. For the last two months, they didn't issued monthly statement then I asked why, PM said because the tenant failed to pay that's why no monthly statement issued. I was surprised by such answer as they should issue monthly statement even there is no transaction, in fact there must have transaction of PM service charge monthly. Lets see how they handle of their fees....

And I didn't get notice from PM saying the rent failed to pay until i asked why no last 2 monthly statement.

Yes, "you will never see that money" that's why i am wondering why the hell PM still saying all damage repairs are tenant's liability. Pointless... We all know it will be pay by landlord 100%

I live in CA and my relative is there. So, I am asking my relative to handle all repairs for me. It must be done asap, at least get the disposition of security deposit done in time. That's why i always say you must have someone you can trust out of state for a investment property there.

Thanks a lot for your advise!

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Montgomery, Alabama

All Forum Posts by: Peter Sik

Peter Sik has started 8 posts and replied 23 times.

Post: Property management does not host open house

Post: Property management does not host open house

Post: Property management does not host open house

Post: Security deposit disposition sent. Due date needed???

Post: What is Pm actually trying to say?

Post: What is Pm actually trying to say?

Post: Should chase debtor?

Post: Should chase debtor?

Post: Should chase debtor?

Post: What is Pm actually trying to say?