We tell tenants NOT to change their locks, we are happy to do so for them at no charge if they are ever afraid someone might have a key that they do not want to have a key.  

When I pointed that out, they suggested I instead setup my credit card as a vendor, and enter each charge as a bill, which would then fix the assets and liabilities issue.  

I got this notice in the mail where the HOA is charging $5457 in dues for the year...a 500% difference from your pro forma. 

Brandon Turner here on BP has written a few good books to help.Lessons Learned:  Never let your emotions get in the way. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

A genuine question here for you, who are you working with right now and how much are they charging you in fee?

I'll keep it fully furnished, so I can potentially charge more, especially since it’s also near a major hospital in Astoria and close to LGA.Do you think this plan is feasible?

Hey Jonathan - I usually start by checking what similar properties are charging in the area, considering things like size, amenities, and location.

.- Cities like Toronto will levy another tax (Vacant Home tax) equivalent to 1% of the current assessed value of the property if the property is not occupied (rented, owner-occupied, family occupied, all count as occupied)- Land Transfer Tax: while the Province of Ontario charges anywhere between 0.5 - 2% of Land Transfer Tax when your transaction closes, you should expect to pay this amount twice if the property is in the City of Toronto .

If they are taking the risk of borrowing they would want to charge you a premium for the risk they are taking.