All Forum Posts by: Stewart Guthrie

@Mike Dymski - Leasing fees for apartment complexes, (and single family homes), are very common throughout the country, it typically comes down to what is customary in a given market and the value of the rental units in question.  

I have seen management agreements where there is a flat leasing fee, ($75-$250 for a new lease in a low/medium end complex), all the way up to 100% of one month's rent, it just depends on what is negotiated between the owner and the manager.

In markets where the MLS is used to market rental properties, leasing fees are high and typically in place to pay a 3rd party leasing agent that may or may not have anything to do with the ongoing management. If the management company's leasing agent finds the tenant, they are entitled to the leasing fee.

Hi Jonathon,  I have a suggestion for both a CPA who does a ton of RE investment work, (as well as being an investor as well), and a great RE attorney.  PM me and I will forward both to you.

@Thomas Franklinthat's why I love BP.

What a terrific, dispassionate, summary of a subject and the potential pitfalls.  You had nothing, personally, to gain by taking the time to write it up but you did it anyway.  

Bravo.

Hello Steve,

Welcome to to BP.  I can recommend a RPM Colorado in terms of ethics and character, I know them as colleagues, (fellow Real Property Management franchisees), but they don't manage properties for me.

I'll be there as well, but there are going to be a bunch of BP luminaries there and a lot of local and bay area investors.

Hello Sheldon,

Welcome to BP.  This is a great community and you can learn a TON.

I would encourage you to engage with Al Williamson's Summit at the Guild this weekend

That sounds good to me too.

@Kaleb Carsten

I have colleagues, Josh and Derek Kattenberg, that run a very good property management business in Sioux Falls.  They don't manage properties for me, (I live in CA), but I can offer my strongest possible endorsement in terms of character and ethics:  http://www.expressrpm.com/.

You should interview them.

I would call Clint Rowley and/or Dave Bramlett at the Real Property Management store in Mesa: 4809817000.

Clint is a fellow RPM franchisee and a personal friend.  I cannot imagine anyone I would rather have managing a property of mine, very honest and aggressive.

Good luck. 

Sunny,

Make sure to take a hard look at where the rent on your place is vs the market right now.  Folsom is ALWAYS a hot market, the presence of great schools, Intel and the 50 business corridor makes it one of the most sought after zip codes in the area.  A lease end in February is pretty good timing as well to get a nice home in nice neighborhood on the market for a Spring lease.

I don't want to minimize the potential expenses associated with a turnover, there are going to be costs with cleaning potentially paint, etc, but the product you are offering is very desirable and likely worth more than you think.  Don't be afraid to at least look at what you would see in increased rent.

Good luck