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1 December 2017 | 8 replies
As a landlord would you try to set up the lease contract to end at certain times of the year where you would avoid potential vacancy (like the summer or holidays)?
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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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17 December 2017 | 5 replies
BUT, the positive would be:+ Catagory A neighborhood with stable renters+ Betting on property value will increase over 10+ yr given the neighborhood+ Turnkey rental, leases in place till 2018Would these positives balance out the lower CAP rate?
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29 November 2017 | 8 replies
The standard 10% usually covers tenant management only - advertising, screening tenants, preparing leases and renewals, fielding phone calls from tenants, collecting rent and conducting evictions.
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29 November 2017 | 3 replies
Everything looked great, why question - 22% ROI, 1 long-term tenant, leases that extended through the summer, and no repairs needed.
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29 November 2017 | 19 replies
There might be a chance I will do a renovation on the apartment after your lease ends and move in there myself.
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28 February 2018 | 9 replies
Again, a few extra points annually, but many are interest only for 12-24 months while you stabilize and lease-up the property, season, and refi on to permanent commercial financing.
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30 November 2017 | 1 reply
I honestly feel the property is worth in the 150 range, it is located in a historic part of downtown in my city, where property value is rising, and there are in the process of building a new medical school 2-3 blocks from this location.A - 1/1 - lease from 6/12/2017 - $525B - 2/1 - vacantC - 1/1 $525 lease from 6/16/2017D - 1/1 $425 lease from 11/12/2010 - these tenants are likely to live in the unit until they pass away.
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1 December 2017 | 5 replies
Up until now, the tenant has rented for almost 4 years and has always signed an annual lease with me.
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30 November 2017 | 1 reply
Speak to all tenants involved and if the problem can not be resolved you have the option of evicting/non renewing the noisy tenants lease.