Robert Rixer
Creative Ways to Boost NOI
23 August 2024 | 4 replies
@Robert Rixer, I don't know how creative these are, as many are common plays:Valet TrashFencing in first floor yardsProviding washer and dryers for added rentReserved, Covered parkingTech PackagesInternet and Cable contracts, with reimbursementsPayment Plan rents, with small service charge (i.e. bill 1/4 rent each week)Reserved Rental cabanas at poolPrivate pool party rental optionGolf Simulator in clubhouse - fee basedOn site, self serve car wash (quarter feeder style)Charged group fitness/personal training servicesGame room in clubhouse with monthly subscription for tenants (Xbox, Playstation, etc)Changing out high maintenance grass for astro turf or lower maintenance/lower water use shrubberyBut ultimately, I think a lot of NOI increases come from deep dive into understanding EVERY expense and finding ways to minimize them, and/or no outsource them.Train maintenance team on basic HVAC and appliance repairs (find way to get them licensed as needed)Buy paint sprayers for faster, easier turns versus having to hire a contract painter, and possibly repaint whole unit each timeStandardize all finishes, so you can buy in bulk, everything from hinges and door knobs to cabinets, paint colors, and light fixtures.Potentially get leasing people onto lower base salary with higher bonus potentialBulk/bundled insurance across portfolio (even better at scale is to self insure)Regularly test sprinkler systems for leaks.Non-NOI, but benefit to you: partner with insurance agency to get referral kickbacks from your tenant base for renter insurance.
Mary Jay
What is the proper way to deal with the security dep notice if no forwarding address?
24 August 2024 | 11 replies
And I make sure to already have established email communication with each tenant at/before the start of the lease, and use that same email address (of the two provided in the lease) with the tenant during our relationship.Real life example: I had one leave “in the dark of night” after my local agent posted an eviction notice on the door.
Steven Westlake
Event hall as a rental ????
20 August 2024 | 64 replies
., after which I put my foot down hard and said “dark grey or light grey siding?”
Kirsten Milliken
Remodel resource list
17 August 2024 | 0 replies
Grays, white and blues for colors.
Elaine Goepfert
PLEASE HELP...being foreclosed on because property is upside down
20 August 2024 | 81 replies
You give me access to enough data and I can tell you what you'll eat for breakfast in a week and what color clothes you'll pick for that day.
Courtney Nguyen
Cost of doing annual roof inspection/maintenance on commercial building (retails)?
20 August 2024 | 19 replies
This can lead to leak in ceiling right as you walk into a unit.On certain centers being sold lets just say some developers ( talking in general ) are know to put up new centers that might like pretty on the outside but are built like junk and then put in lots of mom and pop tenants who have high risk of going dark.
Kevin L.
Should I buy in Los Angeles before it is too late?
17 August 2024 | 25 replies
A few folks have talked about leveraging a HELOC in the future, but if you don't have other assets to back up that play and things go south it could force you to sell your primary home - that gets real dark real quick.
Account Closed
Vice President Harris Announces Economic Agenda
21 August 2024 | 182 replies
Quote from @Susan Maneck: You disparage a group based upon there ethnicity or color of there skin.