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7 May 2024 | 5 replies
Make sure you run a detailed financial analysis and always do a rental stress test to see how the numbers hold up under different scenarios.
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7 May 2024 | 7 replies
The city has been working on implementing lead swab testing for rental properties, that is something to consider when purchasing properties built prior to 1978.
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7 May 2024 | 7 replies
If you didn't do soils testing when you purchased lots, now would be a good time to understand any other hidden costs.
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10 May 2024 | 116 replies
My general method is to assume (in the beginning) a sudden and drastic depreciation in order to stress test the financials and make sure the risks are managed properly to my risk appetite, which is quite hedged.
6 May 2024 | 11 replies
Your PMC is recommending the path of least resistance, because mold claims could be VERY expensive.Also, many insurance companies will NOT cover mold issues.So, call your insurance agent and see if this will be covered or not.At the same time, direct your PMC to get a professional mold test done to determine if there actually is a problem or the tenant is mistaken or exaggerating.
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6 May 2024 | 8 replies
Run owner reports.After testing a few apps, one should stand out.
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5 May 2024 | 2 replies
While this may exempt it from being classified as a rental activity, active participation remains a requirement, necessitating compliance with three tests: spending 500 hours on the property, dedicating at least 100 hours (and more than any other participant), and performing all the necessary work needed.Additionally, long-term viability and consideration of depreciation recapture are important concerns.
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6 May 2024 | 11 replies
The ones I have heard of/tested are as follows:Beyond Pricing, PriceLabs - are automated pricing toolsLodgify - is strong in website development (if you want to drive direct bookings) but from what I viewed are not as strong in the management toolsYourPorter - Cleaner communication toolOneRoofTop - decent tool set, heavy lifting, questionable sustainabilityMyVR - expensive but decent tool setBookerville - their customers love them, their technology appears to be old school (so does their name)I too am on the hunt for a solution because I want to become more passive, moving away from the daily grind of working "in" my business so I can work "on" my business.
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5 May 2024 | 6 replies
@Dan IllesYou can get software that will track the engagement of your posts and run A/B test.
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5 May 2024 | 5 replies
If any tenant fails a drug test they are immediately booted no questions asked and no eviction protections because the lease is signed with "oxford house" and not individual people.