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22 June 2021 | 1 reply
We'll do everything we can to prevent shady bookings, but it's hard to be bulletproof.
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22 June 2021 | 6 replies
If I pay $5K for tree work that likely prevented a limb falling and causing $5K in damage, that was a 1:1 return on my 'investment'.
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23 June 2021 | 0 replies
Hi everyone, How do you prevent fraudulent charges by a property management company?
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4 July 2021 | 6 replies
Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!
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24 June 2021 | 5 replies
The other part to this equation would be the condo association and making sure that there isn't anything in the covenants to prevent STR if the area allows for it.
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25 June 2021 | 9 replies
I think BiggerPockets rules prevent me from posting their names and contact info.
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30 June 2021 | 35 replies
Rochelle Walensky has signed an extension to the eviction moratorium further preventing the eviction of tenants who are unable to make rental payments.
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26 June 2021 | 17 replies
Basically, the purchase agreement prevents them from selling it to someone else.
27 June 2021 | 11 replies
You've protected against vacancy for two years, but you've also prevented a new owner from increasing the rent for two years in a really hot market.I don't think it's a good investment property.
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26 June 2021 | 8 replies
Make sure either the screen is dug at least a foot below the ground with couple feet of bricks or tiles or pavers that prevent critters from digging under near the fence3.