All Forum Posts by: Fisayo Ijamakinwa

@Craig Bowen It's going to be an ongoing maintenance.

Thanks for your input @Jon Holdman

If the PM wanted $65 per unit, shouldn't the agreement have read....... 10% or $65 of gross rental income  received on all rental agreements, whichever is greater.....versus the language above. 

I am ultimately trying to understand if the language "b" above in my original post should be read as 10%  of gross rent or 65*3 and if I should be challenging the PM on this interpretation.

I am curious as to what you / everybody has seen in regards to this.

Hello All - I have a question regarding property management.

We just recently purchased a triplex and the agreement reads that the PM fee is "(b) A fee equal to TEN percent ( 10 %) of gross rental income received on all rental agreements starting in 2nd month, OR $65.00 per month, whichever is greater."

We got the payment today and realized the property manager charged us 65*3 Units versus 10% of gross rent. What is the industry standard. I read this agreement as the PM will be taking take 10% of the gross rent and not 65*3 units since 10% of our gross rent is greater than $65. . Did I interprete this wrong or PM is playing a smart one on me?

Thanks in advance for your input.

Hello All - I have a question regarding property management.

We just recently purchased a triplex and the agreement reads that the PM fee is "(b) A fee equal to TEN percent ( 10 %) of gross rental income received on all rental agreements starting in 2nd month, OR $65.00 per month, whichever is greater."

We got the payment today and realized the property manager charged us 65*3 Units versus 10% of gross rent. What is the industry standard. I read this agreement as the PM will be taking take 10% of the gross rent and not 65*3 units since 10% of our gross rent is greater than $65. . Did I interprete this wrong or PM is playing a smart one on me?

Thanks in advance for your input.

Hello - I am a rookie investor here and I just purchased my first property. What efficient apps or software do you use / or are out there that you use to track all your real estate related expenses to make tax filing easier at the end of the year. Anybody else is free to respond to this as well. Thanks in advance for your inputs.

Hello - I am a rookie investor here and I just purchased my first property. What efficient apps or softwares do you use / or are out there that you use to  track all your real estate related expenses to make tax filing easier at the end of the year. Anybody else is free to respond to this as well. Thanks in advance for your inputs.

@Maria K. Did you finally get a good roofer? What was your experience and would you recommend them? I am in need of a roofer and someone that can do a bathroom rehab both in Columbia SC. Any help would be welcomed.