
22 May 2024 | 1 reply
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

22 May 2024 | 6 replies
It is the equivalent of crashing your car then trying to buy insurance to fix the car after the fact.A home warranty or homeowners insurance policy will not pay for mold because mold is a maintenance issue.You didn't say what is wrong with the garage - if it's a broken door opener that is typically covered on a home warranty.My experience is mixed with home warranties and I can 100% tell you your satisfaction comes down to the local trade person that shows up.The home warranty company does not employ trades - they contract them locally at a fixed rate for the work performed sort of like how car mechanics are paid.

22 May 2024 | 8 replies
Whereas the neighbor's insurance company or the neighbor may be found responsible for paying future damages caused by their trees.I have a rental house with two neighbors large trees overhanging on both the side fence and also the rear fence encroaching toward my newly re-screened pool cage.

21 May 2024 | 3 replies
I wouldn’t think the warranty would cover existing electrical or sewage issues or pay to fix an existing broken AC.I’ve never tried a seal on a roof.

26 May 2024 | 102 replies
Everyone who is considering investing in a syndication should read @Brian Burke's book, "Thev Hands Off Investor" It is about how to screen a syndicator.

23 May 2024 | 52 replies
Finally, another offer and another nit-picky list of non consequential stuff to fix (including a small tear in a window screen and a front step that had settled and was now 1/4 inch lower and out of compliance)!

21 May 2024 | 11 replies
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

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.

23 May 2024 | 80 replies
It's doing the pre-access drug screens for new contractors starting their jobs at the refinery.

20 May 2024 | 3 replies
We’ve also asked them to keep the screen door unlocked so that we can use the key to enter if they are not home.Tenant is active duty military living with his girlfriend.