Jeffrey Milner
Buying a share of a large freehold London house at a large discount for first timers
23 January 2025 | 0 replies
It is a freehold property, recently renovated from top to toe with high quality, large garden, and kept very clean at all times.
John K Smith
Property Management Fees in Rochester, NY
21 January 2025 | 1 reply
Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee
Michelle Baldwin
PMS Software to Link 2 Separate VRBO Accounts
18 January 2025 | 6 replies
We successfully set up the co-hosting on Airbnb where I receive the agreed upon 18% + the cleaning fee.
Yooni Choi
How to self-manage out-of-state property
25 January 2025 | 12 replies
Some landlords use lockboxes or smart locks to grant temporary access, but that has risks if you don’t have someone to oversee things.2.Move-out Inspections/Cleaning: Again, you’ll need boots on the ground for this.
Phillip Austin
Nightmare Tenant - This is why you need a property manager!
24 December 2024 | 7 replies
I am assuming in this that normal cleaning was done pre-occupancy and they are excessive in their expectations.
Chris Pontello
Avoiding a short sale through creative financing
26 January 2025 | 6 replies
An auto body shop across the street that "stores" cars needing work there.Since abandoning the home, major landscaping would also be needed to clean up the walkway to the water.
Melanie Baldridge
What is MACRS classification?
10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
Account Closed
Property Management Fees in Rochester, NY
19 January 2025 | 1 reply
Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee
Ryan Leake
BiggerPockets mobile phone app?!
31 January 2025 | 8 replies
As you can see we are still cleaning up a few major things, so we probably can't work on that right away.