All Forum Posts by: Puneet Sharma

I have a property in El Paso, TX on short term rental. A couple moved in 3 months back, they had some personal issues and apparently have moved out without informing. No response in the last three days. I just had half month's rent as security. 

What are my options? I'm also looking to also report it to credit bureaus so that it's on their rental history. Any input is appreciated! 

Hello Fellow Investors,

Looking to help out a friend. He's looking to start his real estate journey and found an agent through a forum who is suggesting to start investing in Detroit, MI (Zip 48224 and 48227). The agent is offering to find a property, rehab, and manage it as well. He's getting numbers like $80K for a 2Bed 2Bath single family homes, additional $20 for rehab, so total under $100K and rent estimate is around $1000. But he's not sure about the area or potential growth in Detroit market. Any comments/feedback/suggestions would be helpful. Thanks in advance!

Any inventors or agents in in Lebanon OR market who could give some recommendations for a contractor? Thanks in advance! 

 Hi @Adrian Silva, would love to get some PM recommendations. I don't live in El Paso, thats why looking to go with a PM. 

Thanks everyone for your inputs, seems like 50% of first month rent as leasing fee is pretty normal but honestly I don't like the 25% lease renewal because the amount of work required from a PM is pretty minimal. Also, I'm gonna pay 10% each month. I guess I'll talk to them and try to convince for a flat fee rather than 25%. 

This is in El Paso, TX. I have couple of properties in Portland, OR and Lebanon, OR but didn't hear about it in those areas or at least with the PMs I worked there. I guess I got a really good deal in Oregon :) 

Is it normal for Property Management companies to ask for 50% of first month's rent for a new lease and 25% for every lease renewal. There's no cap to this amount. I have seen this is in two different markets though not every PM asks for it. I was just wondering if this is normal and acceptable. 

thanks @Brett Deas and @Denver McClure, I went ahead and setup up my account on keycheck itself. I actually like it so far, it has got everything from tenant screening to lease agreement to payment setup. Thanks for your input!

One thing I have realized with my AirBnb is extra cleaning supplies for guests to clean up any mess. One more thing that goes a long way is just couple of water bottles and little snacks as welcome during check in. You can by in bulk from Costo so it costs just couple of dollars. 

Looking for guidance on dos and donts for renting through FurnishedFinder.Com.

How do you screen the tenants? Do you sign a lease agreement? Do you ask for a security deposit?