If they are negligent, they should be own up to that and eat the cost.Remember: cheaper management doesn't mean you'll make more money.You can start by going to www.narpm.org to search their directory of managers.

The last thing they would want is for the Assoc to be negligent.

Unfortunately I left about $2000 in inspections/fees etc on the table, but they are negligible in the scope of things.

It’s irresponsible to the point of negligence to manage property (even your own) and not know whether your lease conforms to local laws.

By analogy, this would be like having airplane passengers wear parachutes instead of focusing on what it takes to keep the plane in the air.I think a better way to protect your equity is to:Maintain the condition of your properties and operate fairly and ethically with constant regard to the lawPurchase insurance to cover any inadvertent negligence and/or simple bad luckVest title in a business entity that fits your partner, business, and tax strategyGood luck on your purchase.

BUT we sold the place to an investor friend who did the repairs & the tenants still there paying on-time (we hold the note & she direct deposits) but dog is long gone.I avoid any flooring below 12mm but negligent surface damage is going to happen regardless of the product.

Hi,Looking to see if anyone has had experience with this.I recently purchased a 2 family home back in Sept in Long Island NY.  Now that the cold weather has hit I've come to find out the heating system was done as a h...

If you get lucky you may be dealing with a hobby landlord or simply negligent landlord that has not keep his rents at market.

I see the absence as voluntary negligence :sigh:

Yes, I realize that a decent tort attorney is going to be able to pierce your LLC and get to your personal assets in the event of some egregious negligence on your part related to these properties, but there is still a modicum of protection afforded to you with them in an LLC that is not afforded to you when they are titled to you as an individual.My other suggestion would be to talk to a CPA and a decent Business Attorney or Estate Planning Attorney (or both Attorney's) and determine based on your overall individual picture which is the very best way to hold your REI portfolio moving forward.