15 October 2024 | 8 replies
While they are good communicators, experienced with Section 8, and their software for rent collection is solid, we're increasingly concerned about a few key issues and would appreciate input from anyone with similar experiences:Turnover Fees Transparency:The turnover fees seem high, and despite our requests for itemized breakdowns and man-hours to justify these costs, we feel they may be taking advantage of our out-of-state position.
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16 October 2024 | 8 replies
In the last few days, there have been new flooding issues due to the amount of rain collecting into drainage streams, rivers, swamps, etc.
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16 October 2024 | 7 replies
You can collect your management fees in an S-corp for tax savings.
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15 October 2024 | 8 replies
This could be the perfect timing to convince a property owner it’s time to collect their final check for the house.
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15 October 2024 | 7 replies
What if they have collections or judgments?
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15 October 2024 | 4 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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13 October 2024 | 4 replies
If it's allowed in your area collect a double deposit to offset the possibility they're going to default.
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20 October 2024 | 84 replies
They are at 7 and 9 years so far.)My PM pays for themselves in too many ways…I don’t face any fair housing violations because I’m not keeping up on monthly changes local, state and federalThey take care of advertising, showing, rent collection, charging late fees.
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14 October 2024 | 7 replies
The county tax collection official will add to that purchase price the full redemption amount for John's 2020 lien.
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15 October 2024 | 3 replies
You should read the ENTIRE state statute on property tax collection and delinquencies to fully understand the process.