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6 April 2024 | 45 replies
If roof needs to be replaced, I call the roofer I trust and replace the roof. 90% of my tenants renew their lease every year.
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4 April 2024 | 32 replies
I have all the payments, maintenance requests, and lease renewals go through the site.
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4 April 2024 | 21 replies
Regarding inspections, some PMCs will be at all, some will only be at the ones that have a high risk of failure or a problem tenant (renewal inspections).These are all questions you should ask when interviewing PMCs.Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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2 April 2024 | 3 replies
Is there anything I should know before I just don't offer renewal of the lease?
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2 April 2024 | 11 replies
They told me that the contract auto renewal by itself without sending me any any notification or email consent.
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3 April 2024 | 7 replies
If you are paying someone to lease the property (even if you self manage), common finders fee is 1 month rent for new leases and 1/2 month rent for renewal.
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2 April 2024 | 2 replies
The lease (with the current college students) was just renewed through their 2025 school year.I'm trying to figure out how to make this happen with little-to-no money down, as I have other 'irons in the fire' at the moment.I'm planning to offer $400-450k for the home, and am trying to structure something where a conventional lender would loan an amount that would be covered by the current rental rate (lets just say $300-350k)... ...then, anything outside of that amount, would be carried by the Seller (for a short while)... ...Seller financed with a ballon in 5-years?
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2 April 2024 | 12 replies
My arbitrage tenants didn't renew their lease this year.
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2 April 2024 | 1 reply
I communicated with them, shared what the plan was going to be when we renewed their lease, and wanted to ensure that they knew how much I appreciated their long term tenancy in the property.
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5 April 2024 | 43 replies
A growing number of insurance companies won't do this anymore and will only add a PMC as, "additional interest", which only alerts them if the policy is cancelled or needs renewal.