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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 | 30 replies
If you're not willing to pay that, do us all a favor and DIY manage.
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21 May 2024 | 1 reply
While you’re at it, replace your hardware, too.Add a DIY range hoodA pretty range hood can make quite a statement, and for a fraction of the cost and a little effort, you can transform your space with your own DIY range hood.
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22 May 2024 | 4 replies
Its a simple form that basically says they have been paid and have no further interest in the property.
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22 May 2024 | 9 replies
But the situation may just be too complicated for simple answers.
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22 May 2024 | 3 replies
When the contact says they are on the DNC list, most just simply apologize and say they found their number via a simple Google search.
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22 May 2024 | 7 replies
These are just a few simple ideas for you to get started.
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22 May 2024 | 9 replies
We do other items as well, or can help answer simple questions if you'd like.
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22 May 2024 | 17 replies
I love IGMS. very simple easy software to use and always improving. super competitive rates on it as well
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22 May 2024 | 6 replies
Sometimes a few simple tweaks can improve your score a lot and get you where you need to be.