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Results (10,000+)
Robert Rixer Creative Ways to Boost NOI
23 August 2024 | 4 replies
@Robert Rixer, I don't know how creative these are, as many are common plays:Valet TrashFencing in first floor yardsProviding washer and dryers for added rentReserved, Covered parkingTech PackagesInternet and Cable contracts, with reimbursementsPayment Plan rents, with small service charge (i.e. bill 1/4 rent each week)Reserved Rental cabanas at poolPrivate pool party rental optionGolf Simulator in clubhouse - fee basedOn site, self serve car wash (quarter feeder style)Charged group fitness/personal training servicesGame room in clubhouse with monthly subscription for tenants (Xbox, Playstation, etc)Changing out high maintenance grass for astro turf or lower maintenance/lower water use shrubberyBut ultimately, I think a lot of NOI increases come from deep dive into understanding EVERY expense and finding ways to minimize them, and/or no outsource them.Train maintenance team on basic HVAC and appliance repairs (find way to get them licensed as needed)Buy paint sprayers for faster, easier turns versus having to hire a contract painter, and possibly repaint whole unit each timeStandardize all finishes, so you can buy in bulk, everything from hinges and door knobs to cabinets, paint colors, and light fixtures.Potentially get leasing people onto lower base salary with higher bonus potentialBulk/bundled insurance across portfolio (even better at scale is to self insure)Regularly test sprinkler systems for leaks.Non-NOI, but benefit to you: partner with insurance agency to get referral kickbacks from your tenant base for renter insurance.  
Matt F. Who gets late fees collected by property manager?
24 August 2024 | 23 replies
This reduces the time it takes for the funds to clear the Client Trust Account and for this reason, the only usually gets their money as regularly scheduled. 
Mark Torrefiel ADUs and utility metering
23 August 2024 | 1 reply
Submetering seems reasonable, as the price isn't too terrible, but then I'd have to have the property manager bill them regularly, and at the end of the day, if they do not pay it, then I am still overall responsible for paying it.
Taylor Cook Who manages your books for your rental?
24 August 2024 | 18 replies
Rent and condo fees (if applicable ) are regular, insurance and property taxes are once a year, repairs are random and (hopefully) infrequent.
Stacey Wells The Benefits of Renting with an Option to Buy
22 August 2024 | 2 replies
Make sure to have clear documentation of regular, on time rent payments and the agreement clearly laid out.
Dalton Smith Ask a General Contractor (me) anything!
25 August 2024 | 61 replies
But then you mention fins so that suggests a regular window.
Michael D Kaminski How to Supervise my Property Manager?
23 August 2024 | 21 replies
When I managed properties the owner would regularly call me in his office.... why did we spend $1/sqft to paint this apartment, why did we replace a fridge, what does it cost $2500 to do a simple make-ready on a 1 bedroom luxury apartment?
Michael Opper SFHs to Multifamily (apartments)
23 August 2024 | 9 replies
In a loose sense, I would call any lender a "partner" too, since they will require not only your monthly payments, and will require regular reporting as well on the operations of the property (but this is a more semantic and philosophical discussion).But, ways you can try to come up with that money: refi your home and/or investment properties.  
Shannon Reynolds Fraud or no?
25 August 2024 | 57 replies
He used to be a regular contributer on the BP forums.
Edwin Lopez Managing gross income from business
21 August 2024 | 3 replies
Capital Expenditures (10-15% of Income)Rule of Thumb: Reserve 10-15% of your income for capital expenditures (CapEx) like roof replacement, HVAC systems, or major renovations.Why: Regularly contributing to a CapEx fund ensures you have the cash on hand for significant improvements or replacements, preserving the value of your properties.5.