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24 May 2021 | 2 replies
Septic systems can require repairs and be damaged by improper use by tenants.
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22 June 2021 | 11 replies
I feel that the tenants that pay consistently and take care of their units end up indirectly paying for the tenants that can't or cause more damage and wear on the properties.
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26 May 2021 | 9 replies
They only look at their back of the napkin calculations of what they pay a PMC, assuming it's 100% profit, because they NEVER consider what expenses a PMC has.Since you like to crunch numbers, why don't you calculate how much it would cost for YOU to hire people to do the following:Inspect a property to make sure it's ready to marketTake marketing picsPublish and refresh for rent adsTake all the phone calls from adsSchedule showingsChase applications, process & screenGet deposits and sign leasesCollect rents, chase delinquencies & evictionsHandle maintenance requests, which are never handled fast enough for tenants, or cheap enough for ownersChase tenants for lease renewalsCoordinate MoveOuts, damage charges against security depositsGet RentReady bids to owner's satisfactionFollow up with maintenance to make sure done on time and done rightStart the cycle all over againProvide accounting services for all of the above, including owner reports and payments, annual 1099's, etc.Don't forget to factor in payroll taxes, employee benefits, company office space cost, company insurance, equipment, phones, etc.Once you do all that, you'll quickly find that PMC's are NOT making more than owners.FYI - this is why investors should always factor in 10% PMC Fees, 10% Vacancy and 10% Maintenance when running numbers on a potential rental purchase.
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5 June 2021 | 7 replies
One kitchen exhaust vent was blocked, but no major problems.I have asked my agent to get more information.
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12 August 2021 | 13 replies
Unless you fall in to one of those triple damages situations.
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25 May 2021 | 4 replies
Glass block is my personal favorite for both looks and security.
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25 May 2021 | 1 reply
You should definitely have good reserves per rental property which will help take some of the stress out of vacancies, damage, evictions etc, which do come up occasionally.
29 May 2021 | 1 reply
Or is this damage unusually severe and I should expect to be repairing pilings every year or so?
1 June 2021 | 1 reply
This allows you to search for significant damages and provide an early notice.
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29 May 2021 | 4 replies
They are responsible for either forcing the contractors back, collecting from the contractor, or paying out of pocket to repair the damages.