All Forum Posts by: Tomas Calvino

I agree, if you have the resources, I think it's a great way of turning the property over faster. In this market, that really isn't necessary though as long as you have a nice clean unit. I don't think it's a good way of getting more rent though. 

Those are definitely some things I haven't thought of yet. Thanks!

What I'm planning on doing is pretty much retracing every step from the very beginning of marketing for tenants until they move out and document every step I can possibly systematize.

Hello everyone,

So I'm getting ready to start working on a standard operating procedures manual for my business. I only own and manage one rental property right now but I plan on having a lot more and it is never to early to start working ON your business. So I want to be able to have procedures written down for as many situations as possible. This way, when I need to hire people to manage my properties, I can use the manual to teach them exactly how things are done. Examples of things I want to include in the SOP manual is what needs to be given to possible tenants, how to go over the lease with a tenant, how to handle maintenance requests, how to handle emergency situations, etc. 

I would like to get ideas from fellow landlords on things that can be automated in the property management business so they can easily be taught to future employees. I want systems in place to run my business, so they more ideas the better.

Cant wait to hear what you guys got!

This is a built in microwave, they have their own that they use so they don't necessarily need the broken one. I agree that we should just pay for it. Do you guys recommend installing a vent hood over the stove instead of where the microwave is now? Or putting in a new microwave? Since they don't need it, it might help prevent this from happening to a future tenant. What do you guys think?

We acquired the property 2 years ago and the microwave was already there. I'm not sure how long it was there already. I want to say its about 6-8 years old. The property rents for 1,245 a month. It's definitely not a low end rental. The tenant has been great. This is his second year and never had a problem with payment. 

So I have a tenant that recently called me because the microwave latch broke so the microwave thinks it is open (even though its closed) and won't work. 

In my lease, the tenant is supposed to pay for any repairs that were needed because of his negligence. Any normal wear and tear is covered by us. 

The microwave gets opened and closed constantly so I'm having a hard time figuring out if it was negligence or normal wear and tear. 

How would you decide in this situation or other similar to this? 

Hello everyone,

My name is Tomas, I am a real estate agent in Brevard County, FL. I am about to graduate from UCF for business and I am really interested in getting hands on experience in real estate investing. I already manage one rental property but I would really like to find someone that handles a large inventory of rental properties so I can learn the ins and outs of the business. I would like to find someone that can teach me and guide me towards my goal while I help with them with theirs. 

My goal is to be financially independent and have enough passive income from rental properties to not have to work a normal W2 job. 

If anyone knows someone in the Brevard County area that would like to mentor me, I would love to help out in any way I can!

 I understand where you are coming from with that. Now would you still charge an additional pet rent monthly since you are giving them the opportunity to get their pet deposit back?

Those are all very good points. Thank you guys for the feedback. I didn't really know what the "standard" was for this issue. Definitely makes sense not to charge for a renewal. 

Hello everyone,

Hope you are having a productive day! Just have a quick question about lease renewals.

The lease on my first rental property is coming to an end and my tenants already decided that they wanted to stay another year. Yay! With that being said, I have increased the rent $45/month. I have decided that I will not collect the difference with the security deposit but I will collect the difference with the last month's rent that I originally collected. 

Now I'm wondering if I should charge them the full non-refundable pet fee again for the second year? Or should I just keep the original one I collected when they moved in? 

I searched the forums but could not find any opinions on this.

What is your take on this matter? I'm curious to know!