Wanted to get some perspective on the feasibility of having a in-house super.
Questions I have. Do you have a super? Why or why not? If you do have a super what sort of arrangement do you have? Do they get a discount on rent? Free rent? What is their responsibility exactly?
@Peter Fokas I'm getting ready to close on a quad where the current owner's daughter has been acting as the super. I plan to keep her in that role, and she does receive a discounted rent. We will have a more formal agreement than she had with her father, but she will not be an employee. Here are my Do's and Don'ts.
- Assist with lockouts
- Receive tenant maintenance requests
- If an emergency, immediately contact owner
- If not emergency, notify owner of resolution or status within 24 hours.
- Mow grass
- Trim hedges
- Shovel snow off sidewalk
- Show vacant apartments
- Collect rental applications and deliver to owner within 24 hours
- Approve any vendor repairs without approval from owner
- Represent yourself as an employee of the owner
- Make any promises or representations to tenants or vendors without owner’s approval
- Receive rent
It is also understood the arrangement can be terminated by any party at any time, and rent resets to market rate if the agreement is terminated. Hope that helps.
I really like what @Brad M. wrote. Can't add beyond that. I gave my Sup a $100 rent discount to keep the place looking good and to assist with turnaround cleaning. That worked well for both of us for many years.
Now that I've adopted a zero vacancy policy, I need to have a team of professional blast in and out.
Whatever you do, you don't want your Sup handling money/rents. Best to you.
I took a step further with my handyman. My handyman rehabs all my new purchases for me, maintains them, collects some rents, and takes tenant calls for repairs. He has a list of things to maintain mostly the property he lives at, then I offset his rent with guaranteed hourly work. I have 12 units for him to work on, and ongoing purchases, so it's plenty to keep him busy, and I still pay him.
But this was a perfect way for me to keep a great handyman stable and local, and most importantly, take a lot of work off my hands with organizing repairs and tenants. He puts his hours and any receipts in a google spreadsheet (at least we're working on that.) But he makes my life easy :)
The end message here is to hang on to those important to you, and let them grow if you have the volume to do it. If not, get rid of them!
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