Andy S.
Yearly Gross Income Requirement for Rental Application in New Jersey
31 December 2024 | 3 replies
A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.
Deirdre Lizio
Should you pick a property manager based on price or service?
17 January 2025 | 23 replies
Is it worth it to deliver an exceptional customer experience if 1) no one expects it and 2) it could impact profitability?
Jamie Parker
Vacant Lot Purchase
8 January 2025 | 7 replies
.)- All in Cost = Cost to build * Square foot - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost accounts for agent fees and closing cost- Initial List Price = Sales price + 10% A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.
Tanya Maslach
Who pays - Landlord or tenant?
11 January 2025 | 15 replies
No issues on property, except a faulty leaky toilet that was fixed same day as tenant posted maintenance issue.
Kenyatta Barthelemy
Starting out in New Orleans/ Baton Rouge
27 January 2025 | 21 replies
But there is one exception to this.
Karma Abdula
My First Flip: Fixer-Upper Tested My Sanity (and My Wallet)
31 December 2024 | 0 replies
Negotiating felt like a game of chess—except I was playing against a grandmaster, and my queen was missing.
Thanh Lu
For owners, self management vs hiring a vacation rental company?
31 January 2025 | 19 replies
Once it is operating, it doesn't require a ton of time, save & except when you have an emergency come up.
Rene Hosman
What is your preferred way to collect rent?
28 December 2024 | 12 replies
Quote from @Drew Sygit: We give our tenants as many options as possible - EXCEPT picking up their rent.Exactly.
Alec Barnes
How Do You Ensure Quality Tenants?
9 January 2025 | 12 replies
Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.
Ed Lopez
Excessive "Make Ready" Costs from Property Manager
21 January 2025 | 35 replies
@Drew Sygit The verbiage in our management agreement is as follows: make, contract, and/or supervise repairs, alterations, and/or decorations to Property; to purchase supplies and pay billstherefore; Broker agrees to secure the prior approval of Owner for all expenditures estimated to be in excess of $500.00 forany one item, except monthly or recurring operating expenses and/or emergency repairs in excess of the maximum, if inthe opinion of the Broker such repairs are necessary to protect the property from damage or to maintain services to thetenants as called for in their leases; in the event that Owner is unreachable after multiple contact attempts for more thanforty-eight (48) hours to approve a repair in excess of the above amount, Broker shall be considered authorized to makesuch repair.I've been contacted about high ticket items in the past but these "make readys" are done without approval.