All Forum Posts by: Xochitl Cadena

I feel your pain, I had a similar experience so we parted ways. Hard to keep a PM if you are in a contract with them. In such contracts it is specified what they charge per hour or a percentage of the rental income. But as a newbee (and they know it!) they will make their money in any corner they can. In my opinion is unethical, and if this was a big enough company that is doing this to thousands of consumers then your class action suggestion might play a role (note I am not an attorney), but since we are talking peanuts compared to the amount in class action law suits you are out of luck. The industry doesn’t regulate it either (sadly). So a ratings system based on service, cost and reputation is much needed for PMs. 

I recommend you to build relationships with electricians, plumbers, gardeners, etc. and establish a system where the tenants report issues and you manage the maintenance required. Establish outdoor cámaras to review exterior activity, and request pre and post pics of the job and pay your contractors promptly. Doing so establishes trust and on your end see how good is each contractor. 

Basically establish more controls. I am small enough that I can still do the managing of the properties like this and assume that as I grow I can get a property management company that deals with bigger player. I imagine that as a result they will pay more attention about my needs and hence care about not loosing big accounts.

Hello BigPockets friends. I want to do a cash out refi using DSCR loans and wondering if you had a good experience with your lender? Thank you!

@Jennifer Ruelens Yes! This is very important, not just mentioning what is expected from the tenant, but what is the repercussion of not complying. I had a tenant that negotiated a $400 discount on the lease in exchange for maintaining the lawn and cleaning the snow. On the first snow storm he bailed whilst already taken the steep discounted rent on the prior months. I already got counsel advice and went on to charge the former tenant for 3 months of snow removal, and will return his deposit this week.

@Lien Vuong I need help with installing a boiler. In short I am looking for someone reliable that is trustworthy and not super expensive. I had a great plumber but unfortunately he passed unexpectedly.

So yes please if you could recommend someone that you used in the past and would hire again please let me know!

Thank you

Sochi

@Xochitl Cadena I am adding here advice from an attorney so that you also benefit and comment on your experience. I just don’t understand the purpose of a security deposit then.

“The breach of contract in the form of not shoveling snow and cutting grass is something completely different from the security deposit law. First, I don't think it is worth it to try and recover the $1200 of unpaid rent. It will cost more than that to file the court papers and go to court.

Next, The security deposit statute is located at MGL 186 15B. It is very complicated and demands strict adherence by a landlord. It requires an itemized list of damages to the rental unit before or at the beginning of the tenancy, the amount of the security deposit cannot exceed one month's rent and must be held in a separate bank account in a Massachusetts bank, the landlord is required to provide notice to the tenant of what bank the money is held in and account information. You should have a receipt from any contractor who repaired any of the damage caused by the tenant. Damage does not include reasonable wear and tear.

I could go on about security deposits and Housing Court. The damages paid by a landlord for these violations is three times the amount of the deposit plus interest plus court costs and attorney fees. So, unless you have an itemized list of damages before he moved in and after he moved out with written estimates for the repairs, you probably won't win in Court. I don't know the extent f the damages you're claiming, but you had better have complied with everything in the statute concerning security deposits and be able to prove damages or it will costs you a lot of money.

Lastly and most important going forward, I suggest small landlords do not take security deposits from tenants. Tenants always use violations of the security deposit law as a defense to an eviction. “

Thank you John, yeah that’s what I want. At this point I don’t care to pursue the diff for every single month, I just want it for those months where they didn’t clean the snow. Oct, Nov and Dec. But again, I don’t want to incur on any more losses including legal fees.

Thank you Max, yeah I do a lot but always bring my maintenance guy with me and definitely pay him for all he does. A property management company that does things on demand would be great to find.

No, that was definitely not zero. I pay my maintenance person $200 per snow cleaning. If he cleans twice there’s the bill going up. Not sure why would assume is zero, do you work for free?

@Dennis Wayne Yes, I made a bunch of mistakes sadly! The guy is out already but now I need to return his deposit and I don’t want to make it a bigger legal expense for me if I deduct the $400 discount by the tenant breaking the contract. Thank you!

@Jennie Ballard Great idea, thank you! But I try to make mistakes once.