All Forum Posts by: Rob Jones

@Adam Schneider

Thanks again for putting the event together last night. Great networking and great content! Please let me know how I can help you put the next one together!

Rob

Actual rental comp data.  It's very easy to see what someone is "asking" in rent for a property but what someone wants in rent and what someone actually receives in rent could be two different numbers.  Knowing this will be able to allow RE investors to have better actual rent data prior to making a purchase in a market they may be less familiar with.

@Caleb Heimsoth

The utilities were never put in my name.  When a tenant moves out the Property Management company puts the utilities in their name until a new tenant moves in.  Once a new lease is signed with a new tenant the PM company verifies the new tenant has placed the utilities in his or her name prior to being given the keys.  That’s the issue here...the PM company did not verify the tenant had the utilities in their name prior to being given the keys.  The utility bill in question has the PM companies name on it....not mine.  But the utility bill period was for the first full month the new tenant was in the house.

Thanks again to everyone who has contributed to this post.  It seems as if the common theme is there really is no definitive answer that everyone(owners and PM’s) can agree upon which means these instances should be taken on a case by case basis and some sort of governance should be in place in the contract.  We hav resolved the issue and have moved on.

I would like to address the individuals who’ve brought up the “in business, there’s no room for feelings” theme.  As a business owner(my wife and I own a gym as well) it is my sole responsibility to ensure my member’s satisfaction, within reason.  If a member feels as if they are being wronged it is my responsibility to make that wrong a right for them, again, within reason.  Without my members, I have no business.  This is the new age of doing business.  Owners and managers don’t “rule with an iron” fist any longer and those who do get exposed very quickly.  It’s much easier to catch flies with honey than it is to catch flies with vinegar.

Wow this thread has escalated quickly lol. Long story short is the PM has agreed to refund me the money. He made it right, we’ve had a discussion, figured out how to make it better, and are moving forward for the remainder of our PM agreement.

For those with the question about the classification of the property, the one in question is a B-/C+ class property. This section 8(none of my properties are) nor is it really close to a section 8. It’s an $800/month rent which, in Greenville, NC, is going to attract your $40-65k per year person who may have student loans or a car note or a dent in their credit that would prevent them from getting a mortgage. This place is very close to the hospital which has always worked very well for me.

@Steve Rozenberg

Thanks for the response.  It’s good to hear from a PM on the situation.  If we dig deep into the agreement I’m sure we would find something stating that I “may” be held liable for the utility bill in a normal scenario. The PM and I agree that this is not a normal scenario.  He even went as far as to tell me that “nothing like this has ever happened before”.  If that’s true then we both can consider this a one off and, as a business owner myself, I ere on the side of ensuring my clients are happy in one off situations.  I want to add that he did, in fact, agree to refund me the money.  He has done the right thing in this scenario at the end of all of it.

Thanks everyone for the input.  This is exactly what I was hoping for when I made this post!

@Anthony Rosa

Well it’s going to cost me a lot more than $200(loss of rent, not sure if they damaged anything, court costs for the eviction, etc) but that’s definitely a glass half full kind of perspective!

@Russell Brazil

Isn’t it also the PM’s responsibility to place a tenant that won’t default in less than a month?

@Russell Brazil

What does that comment even mean? And how does that add any value to our conversation?

@Caleb Heimsoth

Greenville