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Showing posts from October, 2024

Why does it cost so much?

Services are never free.  I get & understand that owning an investment property can be expensive.  But I challenge that notion.  You get what you pay for (not just in a monetary manner). When you have a rent ready vacant unit, what are you doing to vet your prospects?  Are you relying on just a pulse (I STILL shake my head at how many owners do this!!).  Are you taking the 1st person who literally has cash in hand?  Does a prospect want to pay rent now at move in but wants to pay off the sec dep over time?  Do you get prospects who have paid so much in application fees but can't seem to get approved? If you're not vetting tenants properly, don't then complain that they become late payers soon after move in; or that they need to be evicted long before their lease expires.  When you do get possession of the unit after an eviction of a tenant not properly vetted, don't then complain the cost involved to turn the unit is as high as it is and the l...

A La Cart Services

As a property management company, we offer a wide range of services.  Property management, leasing up vacants, turning vacants, maintenance, and evictions.  We also have auxiliary services of lead safe certification, HVAC (install & clean & checks), and pest control. While we are proud to offer services in an a la cart manner, we do bill in advance of services in many cases.  Our rates would be spelled out in our management agreement.  In some cases, depending on scope of work, we can provide incremental billing. But, in all cases, for all services, if payment from the owner is not timely received, our services will terminate.  We've just had too many owners sign the mgmt agreement (knowing what our rates are) then balk at paying, yet they still want services.  Or, the owner wants to change terms of payment and or challenge the cost of the services we provide midway thru the process (again, after they've already signed the agreement and know what ou...

Licensed Real Estate Expectations

 I am a licensed real estate broker and Realtor.  As such, my license dictates certain things I need to do related to real estate transactions.  As a property manager, there is even more scrutiny given the increased amount of financial transactions and increased amount of paperwork I process in any given month. Fair housing seems to play a igger role as a property manager, but I believe that's inherent given the volume of transactions I do (leases, renewals, leasing standards, lease termination, showings, walk thrus, etc). Recently, I had an owner get upset when a tenant vacated a rental.  Legally, the tenant needed to surrender keys or I needed a court order (an eviction, sometimes with the use of a bailiff).  In this case, I had neither.  The tenant refused to surrender keys and the owner was refusing to allow me to pursue an eviction.  Despite me explaining the legality of the situation, the owner was upset that I refused to simply take possession o...