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All Forum Posts by: Bryn Wilson

Bryn Wilson has started 1 posts and replied 3 times.

Post: Landlord Issues

Bryn WilsonPosted
  • Note Investor
  • Seattle, WA
  • Posts 3
  • Votes 0

Does anyone whether its legal in WA to rent a shf like its a tri-plex? There is a main two bedroom two bathroom house with two units attached. The units were addons/conversions.
Also in WA state a landlord has to give 48 hours notice of entering the property unless there is an emergency. Over the past 8 months our landlord has spent no less than 20 days working in his office right outside our bedroom window. He shows up at 8:00am. Sometimes he gives us only 15 minutes warning that he is coming.
We honestly don't mind him using his office from time to time, but don't like being surprised first thing in the morning.
The landlord is a real estate attorney, and we are trying to set boundaries with him, but he seems to lack some common courtesy. We have asked him to reduce the rent if he wants to live at his property or give us due notice that he plans to use his office. We are paying a high rate of rent for the property according to rentometer, and that doesn't include the two units he is renting out as well. Something doesn't seem quite right to us.
Can anyone offer advise as to the best way to handle a resident landlord?

Post: Commercial property management

Bryn WilsonPosted
  • Note Investor
  • Seattle, WA
  • Posts 3
  • Votes 0

Andrew,
Yes we are talking about two different schemes although they are similar. With Proportional Ownership you actually own the building and direct the management company in how to run the building. This gives you more control. With management rights you tend to be at the mercy of the management company from what I understand.

Post: Commercial property management

Bryn WilsonPosted
  • Note Investor
  • Seattle, WA
  • Posts 3
  • Votes 0

These schemes are called Proportional Property Ownership. I have a few of these types of investments in New Zealand but my yields are only in the 8-11% range. Quality of the management is very important and you have to read the prospectus (if they have one) very carefully. My father was involved in one where the management was grossly negligent and had them removed by voters rights.
I would be interested in hearing if you find similar structures here in the US.

Bryn