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29 November 2017 | 11 replies
Outside of the legal ramification that come from attempting to Wholesale you will have many more earning options as a licensed agent.As for strategy they are both similar.
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28 November 2017 | 2 replies
The good part is, if it’s a simple waterline service job they are usually pretty competitive, and if you share the numbers their competitors gave with them they will usually try and beat it.
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29 November 2017 | 6 replies
Possibly using a professional third party vendor for the pre-inspection is a great idea, give a copy to the owner and tenantExcessive holes in walls Broken tiles or fixtures in the propertyPlumbing backupsRepainting where a tenant has repainted from the original colorTears, holes, stains or burn marks in carpetsMissing or damaged blindsBroken windows and window screensBroken doors and locksBroken or damaged appliancesExcessively DirtyPest control if you see Bugs and or fleasJunk or trash left behindPast Due rentFees incurred from fines from the association due to the tenants conduct or lack thereofWater damage to hardwood floorsMissing outlet coversRemotes for garage or gate if not returnedRekey of locks if tenants did not return the keysUnpaid utilities, as long as they were part of the lease agreementUndoing a tenant alterationThis is a sample of things that are usually considered to be normal wear-and-tear and should not be deducted from a security deposit:Slab or plumbing leakNormal rug wear.
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30 November 2017 | 3 replies
I am reviewing a property management agreement and came across this clause RE: Indemnification that seems too broad:INDEMNIFICATION:(a) The Owner shall indemnify, defend and save Agent harmless from all suits and/or other legal proceedings whatsoever and cost incurred therefrom in connection with the management of the Property and from liability for injuries suffered by any employee or other person whomsoever, except in cases of willful misconduct or gross negligence on the part of Agent or its employees, (b) The Owner shall indemnify and hold harmless the Agent from and against any costs, loss, expense or damage (including attorney's fees) suffered or incurred by the Agent arising out of or related to the enforcement of this Agreement arising out of a default or other breach by the Owner, the management, operation, improvement, alteration and leasing of the Property, including all other activities arising out of or related to Agent's duties under this Agreement or as a result of any act or thing done or permitted by the Agent or its agents or employees; provided, however, that such indemnification shall not apply to any such cost, loss, expense or damage to the extent that the same relates to or as a result of conduct by Agent which constitutes willful and wanton misconduct.It seems like if one of the Property Manager workers (aka Agent) slips and hurts himself while cleaning the floor the "Owner" is then responsible.
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28 November 2017 | 7 replies
Raising capital has important legal considerations so seek out a competent attorney w/SEC experience in doing syndications.
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6 December 2017 | 37 replies
I'm also confident that in a situation where she has private information from the buyer and the seller, as you might be dealing with, that she would just facilitate the negotiation and transaction without nudging either party.
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29 November 2017 | 9 replies
Do I have any legal recourse here?
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29 November 2017 | 2 replies
On the surface, I feel like this is dodgy, but I cannot find any legal reason not to do this.
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5 December 2017 | 1 reply
We went to a lawyer’s office whom completed the legal paperwork for me to be added to the deed.
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29 November 2017 | 8 replies
Just want to make sure I am on the same page...Keep in mind when thinking about property managers, they have overhead of conducting business, including employee wages and benefits, hardware and software costs, utilities and rent for their office location, insurance costs, licensing costs for their employees plus the time and effort put into maintaining compliance with applicable laws regarding third party management of real estate assets.