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22 May 2024 | 27 replies
I would caution on thinking Orlando is only about tourism though(the whole state is really).
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22 May 2024 | 19 replies
Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.
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22 May 2024 | 7 replies
Zillow is perhaps one of the better gauges of rental market temperature because many PMs don't use the MLS to advertise rentals.
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21 May 2024 | 3 replies
I’ve seen them advertised.
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22 May 2024 | 74 replies
If an operator/syndicator is using a 506B to raise capital, he cannot advertise.
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22 May 2024 | 20 replies
Landlords must educate themselves on what a good property manager looks like, screen until they find a good one, then supervise that property manager to keep them on task.Far too many Landlords go for the first one on a Google search, the one with the lowest advertised fees, the flashy website, or some other superficial qualifier.
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22 May 2024 | 48 replies
Also, maybe they've been bought & renovated in the last 21 months.The real challenge is the advertised $105k value.Zillow shows a Zestimate of $59,600, RentZestimate $1,314Redfin Estimate is $67,444, rent est $1,089Realtor (dot com) estimates: ---Collateral Analytics $60,212---Quantarium $49,728---CoreLogic $67,264Please show us where you can find ANYTHING that supports their $105k price!
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21 May 2024 | 8 replies
So, why is McDonalds still spending billions on advertising?
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21 May 2024 | 3 replies
I just sent a message to my property management company now asking if it's customary for them to list the rental on MLS.Also, regarding the rental price; Not only have I completed the lanai mesh, installed blinds and added a whole-house water conditioning system, but I'm also including the Internet connection and the security system in the advertised asking price which I believe should be worth it.