All Forum Posts by: Stephanie Hunt

Hello to all! I have been posting comments for people and thought I should introduce myself in this forum!

My name is Stephanie. I have been in Property Management for over 10 years in Indiana. I have managed everything from large scale multi-family communities, section 42, senior housing, section 8 housing, student housing, and single family homes. I currently hold my Indiana Real Estate License. I am now working for investors helping them Property Manage their portfolios. I do all marketing, collections, leasing, maintenance scheduling and more. I perform site inspections and move in, move out inspections, and also handle evictions. Basically, I do all the hands on with the tenants.

I decided to start helping investors because I do this from my home. I have a large family, mostly teenagers, and this just works for me.

Thanks John! I will definately do that!

I agree, you must know you state and local laws. What about including a collection procedure notice in your move in packet or given with your lease. This notice could explain your exact collection procedure AND explain the pay or quit notice. You could even ask that the residents sign the notice at move in and explain it to them at move in. With this in place, you and the tenant are on the same page. Give the tenant a copy and put a copy in the file. This is proof that the process was explained in detail at move in. And, this does not mess with the pay or quit notice itself. This is a notice given by you yourself just explaining the process. I think this is legal in any state.

Im not sure of the laws in California, but, does your lease agreement state anything about the Pre-move out inspection? If it does, then there is the opportunity that was given.

Did you do a move in inspection? Was the findings documented and signed by yourself and the tenant. Having this will really help because this states the condition of the unit when the tenant moved in, proving that the damages were caused by the tenant. Also, if you have one, you could change it to include the move out inspection and use the same form when performing that inspection. You can also offer the move out inspection on that form. Just make sure the tenant has a copy of this form at move in.

Do you conduct semi-annual inspections. This could also be used in your favor. Not only will you get a heads up on any damage, but, it can be documented that the tenant was informed of maintenance or housekeeping issues.

Looks to me like you have received some great feed back. I have been a Property Manager for over 10 years. I have managed large upscale properties, student properties, section 42 properties, and now I am working with an investor managing his portfolio of rentals and rent to owns.

The pet fee is very effective, not only can you make some addtl. ancillary income, but it helps to protect you as well. Just remember, if legal in your state to definatley charge a pet deposit. My deposit is "non-refundable." You can also charge say a $300 deposit with $150 refundable.

You can also contact your local cable company. If you offer their cable service exclusively, sometimes you can get a percentage of the sales in return.

Be careful offering the anything with the word security in it. Sometimes, depending on the state, just using the word "security" can make you somewhat liable if something happens. But you can also check with the local alarm company, just have the charges billed to you, then charge you tenant..slightly over.

When filing evictions, I have in the past charged a $100 admin fee for having to go to the court house and file, in addition to the filing fees etc..

Also, if you have a multi-unit community, you can charge for faxing service, check with your local dry cleaners and set up a pick up and drop off service at the office.

You can charge extra for certain views, first floor, second, third etc...

Furnished units are good as well. You can contact a furniture rental company, and upcharge. These are especially profitable if you can get a company or two to lease a unit, especially for their out of town employees or guests.

Those are a few ideas. Please contact me if you want any more ideas..I have a ton! Everyone have a great day!

Thanks to those of you that replied! I will definately take your advice. Im new to this, so any advise is definately appreciated. Have a great day! :D

Hello everyone! I am an experienced Property Manager looking to help investors manage their portfolios, as well as, my husband and I are wanting to start in fix and flips! He has all the contractor know how and I have the investing and managing know how! Any advice would be appreciated!