All Forum Posts by: Steve Camp

Hello, I am a multifamily investor and I would like to start acquiring retail real estate.

In order to properly underwrite deals I need to know the average downtime between leases if the previous tenant doesn't want to renew, to know the common lease terms in the market such as the number of free months, tenant improvements allowance, etc.

In multifamily I could find indicators in the Costar reports but in retail I don't know how to evaluate the downtime between leases, the only information I can find is the vacancy percentage.

How do retail investors estimate these numbers?

Thank you very much

Hi Logan

I am not a hotel investor yet but I would like to become one

To the best of your knowledge is there a community of hotel investors like there is for multifamily investing, or a good masterclass about it?

Steve

Hi @Percy N. thanks a lot for your answer

I'm know sure that their accounting is chaos, it's a 70 units property, chart of accounts is unreadable, I think the balance sheet is wrong

Is it usually the property manager who takes care of the accounting or is it delegated to someone at PM headquarters?

Hello

I recently invested in a multifamily property in Florida and I recently got an overview of the property manager's work and the Resman software they use.

I'm not a PM expert and I'm not an accountant either, but I'm wondering about the property management and if things are done the right way.

Is there anyone with experience in property management and with Resman, who can tell me how it works under the hood?

For example the property has reserved parkings and storage spaces, I could see that in Resman these items have not been added to the "Rentable Item" window and it's difficult to track their vacancy

The general Ledger seems to be very messy too, there are more than 1000 sub-accounts, some of them look double or triple, and almost none of them are used.

Do we have to keep all the sub-accounts since the construction of the property as an archive, or can order be made there?

There are also a lot of late Work Orders, generally property managers update Resman regularly or is it rather a secondary software that not all features are used?

As I can't ask the PM for lessons to understand if their work is done correctly or not, do you know an accountant who could understand the situation and put order in this platform, and tell me if the situation is worrying or not, I have no idea if it reflects a lack of organization or if Resman is simply used only secondarily

Thanks in advance