All Forum Posts by: Tuan Tran

We just had a query from Adobe Services. They supposedly are a non-profit org that helps provide housing for homeless which works similar to Section 8.

http://www.abodeservices.org/

Curious if anyone has worked with them and can share your experience?

Thumbs up/down?

Thanks!

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Originally posted by @NA NA:

You're far braver than I!

How far away are.your properties? I wouldn't try to do this for a place more than half a day's drive away.

I have a PM but Ive had friends check in on my property and retrieve items for me, I would not recommend it unless you want to strain your personal relationships and/or have amazing insurance.

Have you thought about negotiating a lower fee with your PM or paying a la carte for services instead?

We're trying to resolve the open items first before trying this. So, negotiating with our target market PMs have not been successful.

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Originally posted by @Milan Mehta:

@Tuan Tran I am in the mist of it now. I have been able to automate most things online, applications, payments, etc. However I find that you will definitely need someone to do showings when units are vacant and you are advertising for rent... and of course you will need a rolodex of handyman, maitenence folks that you can rely on.

Thanks for the feedback. Yeah, I'm still trying to figure out how to manage holding and transferring the keys. How do you deal with that?

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Any one management remote properties without using property managers?

I'm a husband and wife team that managements local properties. We are venturing out further and curious if anyone have a good successful process for remote properties.

Any tips and suggestions would be greatly appreciated!

Thanks

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Originally posted by @Chad Hale:

@Tuan Tran to answer your specific questions.

Adding broker as additional-insured is normal and should not cost you anything.

As the owner, you should be allowed to determine the terms that you want for your property. The PM may have some input but it is your decision. Personally I like month to month in pro-tenant states.

Fees are negotiable. Though each area tends to have differences as to what is customary. The only cancellation fee I have is if I market, interview, show, screen, place a tenant and then the owner wants to part ways within the first year, I collect a previously agreed fee for my services. Otherwise, I keep it simple with 30days notice for either party. Why would I want to force an owner work with me if they are unhappy? Their success (and satisfaction) is directly related to mine.

Interview at least 3-5 PMs with the same set of questions/criteria.

Also, there are lots of other great resources on BP about how to interview PMs, what to ask, etc.

Thanks Chad,

There so many forums on BP that it's bit hard to cipher through all the data. I did a search but it's lost in a bunch of other items. I'll continue to look.

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@Wes Stange, thanks for the feedback. What are your core negotiation points with property managers?

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Hi, I'm shopping around for my first property management for a remote property.

* Is it necessary to have the broker be co-insured of the liability insurance? Why?

* Can I make my terms month-to-month instead of a full year? What is common or best for landlords?

** If not, how do I better negotiate a cancellation fee if the PM is not doing a good job?

Anything else that should be pointed out?

Thanks

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Hi all,

I'm eyeing a 5 bedroom single family home that had its garage converted to 2 bedroom unit. It was done with a permit. What's a good plan, process or contract to split the cost of the utilities and mailing address between the tenants? I do not want to manage the utilities myself as a landlord.

Thanks

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Thanks all. Yeah, I just read the zoning laws for my location and this house would not be eligible.

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All Forum Posts by: Tuan Tran

Tuan Tran has started 14 posts and replied 36 times.

Post: 8 unit apartment pricing

Post: Adobe Services for Subsidization for Homeless

Post: Managing Remote Properties without PMs

Post: Managing Remote Properties without PMs

Post: Managing Remote Properties without PMs

Post: First Time Hiring Property Management

Post: First Time Hiring Property Management

Post: First Time Hiring Property Management

Post: How to split the cost of utilities in a rental unit?

Post: How to convert a single family home into a duplex?