All Forum Posts by: Bob Collett

Yes. It has saved the day for several my clients during pandemic.

Bob Collett

@Stephon Richardson

1. Pull standard crisis and background report.

2 Take care of maintenance on routine basis

3 Check with prior landlord

Have printed acceptance guidelines to avoid fair housing complaints

Bob Collett

Remax Trinity

@Matthew Terry

Garfield Heights has fairly good housing stock and a strong tenant base. It has quick access to downtown Cleveland, and has Marymount hospital, a Cleveland Clinic hospital. A sting neighborhood for people who grew up in Garfield, and also for people wanting to upgrade from Cleveland. Taxes are high. POS is obtrusive. City requires rental registrations and inspections.

@Elram Raguan

In order of where I would recommend to a friend as a place to live:

1 44129 Parma preferably south of Snow

2 44134 Parma

3 Lakewood further west is better

4 Fairview Park

5 44111 west of 140th... further west the better

6 44135 West of 140th

7 South Park in 44109

8 44144 further west the better

9 The rest of 44111

10 The rest of 44109

11 44102, with expert help

12 Tremont or Ohio City or Gordon... trendy neighborhoods for singles or couples... street by street, house by house

All other west suburbs are good, but get more expensive as you move further from Cleveland proper.

Bob Collett

Realtor, Remax Trinity Property Management 

@Nathan GesnerThe biggest challenges in a place like Cleveland where good tenants are not standing in line to rent; is that investors buy in marginal neighborhoods where the housing stock is in constant need of maintenance and finding tenants who pay the rent (typically with a credit score over 600) is a challenge.  Additionally, water and sewer bills are high relative to rents in a typical 2 BR unit in a multi-family property.

Bob Collett
Remax Trinity Property Management in Cleveland

Yes, county; but many people do not.

Also, leases do need to be in writing as stated earlier. Do credit and background check as a matter of routine. 

@Pratish SHah

If your main concern is liability, make sure you get proper legal counsel. Just having the property in the name of an LLC does not get you much protection.

Be aware, if you ever need to go to court, you cannot represent yourself if you have LLC. You must show up with an attorney.

Yes, you absolutely need to register as a rental property in Shaker. You will need to pass rental inspection and pay fees.

Best of luck

Robert Collett

Yes. All cash gives you an advantage in a multiple offer situation. Most “below market price” properties will need some updating.

Bob Collett

Remax Trinity PM - Cleveland

@Santiago Coppoletta Please explain what you mean by lower price offer in exchange for liquidity.  Your offer should be based upon your market analysis and the potential return on investment for the property.