All Forum Posts by: Steve Tse

@David Bilandzija where do you typically go to buy US Treasury bonds ?

Thanks everyone, I didn't realize that Capital One has 11-month CD with 5% APY - sounds like a good deal

It's 2023, what banks  do you use to  get best high yields on your savings account ?  This question is to any investor that needs to park their money in between flips or investments or just anyone who needs to keep their savings for short term like a year or so.

Can anyone recommend any roofing companies or contractors experienced in roof replacement in Killeen TX area? I would be very interested to hear your recommendations if you actually used them recently and had a positive experience. It would be a bonus if you can vouch for their work as far as quality, reliability and honesty goes. Also, curios to know what they charged you to replace the entire roof ?

Thanks BP

@Curtis Mears, in my opinion some items could have been tenant responsibility such as the ice maker, the stove lightbulb, the doorbell and  kitchen light switch. Other things like the garage door rail and the fan motor is landlords' responsibility.

I looked at tenant's rights handbook in the state of Texas and it says that the landlord is responsible for repairs related to health and safety of the tenant. Examples are sewage backups, roaches, rats, hot/cold water, faulty wiring, roof leaks, and, heat and AC. 

@Galen Ikonomov, let me clarify my earlier statement, I don't believe the PM is a scam. I think the PM disclosed to the tenant that they should submit tickets when they see things broken in order to cover from any lawsuits. I think they want to do everything according to the law, but this sends a different signal to the tenant that they are living in a hotel where every broken item will be covered at landlord's expense. 

At least this is how I see things...

@Galen Ikonomov, since I am OOS investor, I have no choice but to hire a PM for all property related needs. Number two, before the tenant moved in, my property was already fully inspected and I repaired everything, EVERYTHING that was presented to me on the list. I didn't say no to any items since I figured I would rather have them fixed now then later.

Number three, I don't think that the current PM is a scam, I am posting my situation on BP so I better understand how others are dealing in  similar satiation where a volume of tickets could potentially benefit the PM rather than the landlord who pays the PM too oversee the property. 

I am curios to hear directly from other property management folks since I never consider a possibility of a conflict of interests between a PM and a landlord...

Just wanted to update everyone and get your point of view on this situation. Unfortunately, the tenant continues to log new requests and after a discussion with my PM about this, it seems to me like there is a potential conflict of interests. Besides a monthly maintenance fee, my PM charges a visit fee every time a tenant sends a request in. This is just a visit fee, and from what I hear, the PM encourages tenants to put tickets in when they see something is broken. The PM justifies their policy by saying that it is in landlords best interest to keep tenants happy and fix things as soon as possible to avoid vacancy.

I am all for it, and want to keep the property in good living condition, but wouldn't this be a conflict of interests when incentivizing tenants to put more tickets will only benefit the PM ?

In summary, do you agree with the PM policy ?

Does your PM charges a visit fee and how much ?

Does your maintenance contract allow you to adjust the maintenance limit amount as you see fit (my limit is $500) ?

Thanks everyone for your valuable feedback. I am going to give it another month to see if tenant requests slow down, otherwise I will speak with my PM to push back on some. 

@Nate Sanow, I hope you are right man, this is driving me crazy