Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually when rents are increasing or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

However, professional remediation is essential for quality results, complete documentation, and assurance that the job meets industry standards.

While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

To that end, I made a Google sheets document with every hospital system in GA along with the following data:CityZip CodeRentometer 2/X   (what a 2 BR, any bath) goes for on Rentometer)RentRentometer 3/1+ Rent (what a # BR, 1.5+ bath) goes for on Rentometer)"Minutes to home"  (how far a drive it is for us)"Staffed Beds"  (measure of how big a hospital is)"Total Discharges" (a different measure of hospital size)"Patient Days"  (yet another different measure of hospital size)"Gross Patient Revenue ($000)" (you guessed it, hospital size)Map Searches & Housing Requests (this and everything below was from FF.com stats page)Furnishedfinder.com Page ViewsTotal RoomsPrivate Rooms % UnitsHotels% Whole Place > 2500 %Whole Place > 2k < 2.5k %Whole Place > 1.5k < 2k %Room > 1500 %Room > 1k < 1.5k Page view per roomThis allowed us to narrow our search to hospital systems near us (less than 2 hours) in a less competitive market (higher page views per room advertised on FF.com) with a significant % of units being rented on FF.com at higher rents (more $). 

Hopefully, your previous PMC made the necessary documentation available to you.

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

We also use software to document/communicate out to ALL residents during the lease term in order to minimize inquiries from parents who aren't well informed.

One reason could be that not all appraisers consider basement space to be "general living area" (GLA), regardless of the building codes.To overcome this barrier, you can:Provide Documentation: Present the city’s approval for the egress window and any other relevant permits or certificates that show the space was done according to code.

So, I decided to drive a nearby neighborhood close to my residence, recently and document addresses of seemingly vacant distressed properties.