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8 June 2024 | 1 reply
I want to ensure that nothing is overlooked that might prevent future construction.Does anyone have any similar experiences or advice they can provide on navigating subdivisions and zoning?
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9 June 2024 | 223 replies
This will prevent future problems.
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8 June 2024 | 1 reply
These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.
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12 June 2024 | 57 replies
Hire an attorney to recover the amount from the tenant.If allowed in your local laws, the best ways to prevent tenants from filing disputes are:1.
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7 June 2024 | 4 replies
Inspector that came to check work indicated it was unnecessary.
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7 June 2024 | 2 replies
Is there any way to prevent this from happening?
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6 June 2024 | 11 replies
There is many unnecessary structures that have a lot of cost associated with them.
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7 June 2024 | 2 replies
Solving those two problems will prevent problem four from happening.
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6 June 2024 | 5 replies
What I’m wondering is—even though they’re allowed in unincorporated miami dade county—if folks who have applied for licenses in this county are getting obstacles thrown at them preventing them from getting licenses.
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7 June 2024 | 7 replies
I recommend you read some books about how to manage properties well, use a strong contract, know that contract inside/out, know your state law inside/out, build policies and procedures to catch and stop problems quickly, know how to screen and select good applicants, etc.An ounce of prevention is worth a pound of cure.