All Forum Posts by: William Russell

I own a Property Management Company and frequent the Waynesboro meetup. There is a lot of opportunity in this area, and the meetups always provide a lot of information. This is the first one I’ve missed in over a year, as I am in Utah for a Property Management Conference. Let me know if you’d like more info!

@Maggie Nguyen Hi Maggie!

I own Keyrenter Property Management Solutions in Virginia, so I am happy to let you know how we do things!

It all depends on the lease!

Our lease says that a tenant is responsible for all payments until a new tenant is located, so this reduces missed rent payments to the owner.

They are also required to maintain utilities until a new tenant takes over.

You can’t hold a security deposit without cause. If they cost you money for cleaning, or things listed in the lease. You can deduct those costs.

It usually goes back to that lease!

@Lou Santiago Hi Lou! I noticed your post, and saw a few people recommended hiring Property Management ASAP!

I think it would be very wise for you to find the right deal. If that deal is within an hour of you, and you have the time, I would recommend you manage it on your own! If you really don’t know how to market/screen, I would recommend you hire a Management Company.

I own a Property Management Company in Staunton, VA. It hurts me to tell you to try it yourself! But, if you want to get into rentals, and you are within an hour or so, give it a shot! If it is terrible, hire it out! But, at least you will know it is worth it! It's always good to know every step of the process that will make you money!

Bill

@James Poe I own a Property Management Company in Virginia, but our company also has a franchise in that area. Keyrenter Property Management does a great job with marketing, tenant screening, and property management. PM me and I will put you in touch with our guy in Flower Mound!

Bill

@Carlos Soto Stay the course! There is no rush. Housing markets go up and down, and it varies by area. Most Realtors want nothing to do with investors. We look at to many properties and low ball offers. This doesn’t give them the margins they need. It is up to you to find the deals! PM me for more info as to how!

@Brian Horwitz You are doing the right thing. If he wouldn’t pass your initial screening criteria, it is best not to approve him now.

Just go for it!

I am an Agent in Virginia. I got my license to do Property Management.

I know every State is different, but I was able to take my course online. I finished my online course, and still felt nervous about the test. I looked up online practice tests, and these made it worse!

I was about to purchase some prep materials. I then decided just to give the test a try, and passed!

I don’t know if this is true, but I later determined that those online test questions were coming from test prep sites, so of course they made it difficult! They wanted me to think it was hard so I would purchase their product!

I’m not saying it’s easy, and I’m not saying it’s the same everywhere. It took a lot of self discipline and studying, but it can be done!

Bill

I own a Property Management Company, and I can tell you this is very regional! I am in Virginia, and I post ads on 20+ websites. The vast majority of my qualified leads come from Zillow, Rentpad, and Rent.com.

I also market on Facebook and Craigslist. Most of my responses do come from Facebook Marketplace. The majority of these are dead ends. I have found that they often click the “Is this available” automatic response button. A lot of them do not reply, and these sites are the majority of my no-shows for scheduled showings. They also click this at 3am, and it alerts my phone!

But, some of my best tenants have come from Facebook Marketplace! So, I will continue to go through these responses as well!

I have heard from other Management Companies that XYZ doesn’t work for them, when it works great for me. I really think this is depends on where you are, as regional results vary.