Hey all, quick context so you know where I'm coming from: I work on the marketing side of a home services platform, so I don't own rentals myself. But I spend a lot of time looking at how small landlords book cleaning, handyman and plumbing work, and the difference between the ones who are calm a...
Aloha! I am looking to get some recommendations for PMs that have experience with retirement communities like Sun City in Palm Desert. What are the typical management fees? Are there any restrictions in communities like that? What are vacancy rates? What are estimated monthly income for a 3/2 the...
Hi everyone, I manage a large multifamily community in Miami and oversee day to day operations, including maintenance coordination, resident relations, vendor management, leasing performance, finances, etc. One thing I’ve noticed from smaller portfolios is how investors underestimate how operatio...
Always operated on "if it ain't broke, don't fix it," which mostly served me fine. Started wondering recently if that's actually the wrong call for certain systems, the ones where waiting for failure means a tenant with no hot water for two days versus a planned swap on a random Tuesday with nobo...
What's One Tenant Screening Practice You Never Skip? As portfolios grow, screening becomes even more important. What's one step in your screening process that's saved you the most headaches?
Hey All, I was talking with my business partner (we own 8 doors together and I own another 9 on my own). All are out of state. Some of the challenges we are seeing is in different markets there can be different property managers, different issues going on, etc. I'm curious on how you might automa...
Talked to a fellow landlord recently who said something that stuck with me: every deferred maintenance decision is really a bet that the system fails on your schedule, not its own. sometimes that bet pays off. Sometimes it turns a $400 repair into a $4,000 replacement plus a very unhappy tenant p...
Hi - does anyone have any recommendations for an HOA Management company for a small luxury community (only 7 Units - within a hotel)? We've had terrible luck so far with WRMC and then the new PMI - so hoping theres an option here?
My parents currently own two short-term rental cabins in Colorado. They self-manage one property, while the other is managed by a property management company in Grand Lake. Watching how important reliable cleaners are to keeping guests happy and properties guest-ready is one of the things that sp...
I’m an out-of-state owner with a 2BR/1BA duplex in the 38112 area of Memphis. I currently have professional property management in place, but the property has experienced a prolonged vacancy and I’m trying to educate myself and get a few independent local perspectives. To be clear, I am not looki...
These guys will take you to the cleaners from day one. They make up reasons for performing various unneeded jobs without your approval and charge you astronomic rates. The first month of their "management" I ended up in the red, i.e. owing them money! In the second month I cancelled them.
Planning to self-manage an STR, but city ordinance requires a designated local contact to physically respond to neighbor complaints within 30 mins. We want to handle the day-to-day ourselves and don't need a full property manager. For those who do this, how did you find your local contact? Also, ...
He's an experienced broker-owner. He wasn't allowed to build what he wanted on a piece of land he owned. The town's letter said it didn't conform to their zoning. He brought it to me instead of just accepting it. I took the town's own zoning matrix — 365 pages — along with the denial letter and t...
Hi all, I realize this is a broad question but I just wanted to get some general input. Do smart investors generally avoid HOA properties? WSJ had a article over the weekend about how HOA foreclosures are on the rise. Thanks!
Used to do a full walkthrough once a year, check the roof, peek at the HVAC, look for anything obviously wrong. Felt responsible. Then I realized once a year tells you almost nothing about where a system actually sits on its lifespan, it just tells you it hasn't failed yet. Switched to checking i...
I have been doing a lot of research into how to get into real estate, the best strategies, market analysis, and more. There is a lot of information out there about strategy, finding deals, and what the next best thing is, but lately I have been asking myself: What happens after I actually acquire...
I am having trouble with unresponsiveness, not getting distributions, and random people saying I need to send them money due to my account being below zero, which it's not. I'm trying to give the new owner and team time to get business in order, but I can't help but wonder if I need to move on fr...
Four properties in, and I caught myself last week trying to remember if the water heater on Property A or Property C was the one I replaced last year. Had to actually go check instead of just knowing. Wasn't always like this. With one property everything's obvious, you remember because there's on...
What's Your Best Tip for Reducing Vacancy? Whether it's better marketing, faster maintenance, competitive pricing, or tenant communication, what's made the biggest difference in keeping your units occupied?
Is it possible to hire property managers on an "as needed" basis? For example, can I hire them to handle emergency maintenance requests for just a few weeks while I'm on vacation?
From a management perspective: What tends to create the most operational challenges? • Tenant turnover • Maintenance issues • Property type • Poor initial underwriting Curious what others are experiencing.
Hey BP! We are deep into the summer season, and I'm curious to hear how things are going for everyone active in the Cleveland market. I want to pass the mic to you all: The Wins: What went exactly as planned (or better!) at the beginning of the summer? The Challenges: What unexpected hurdles or h...
I've been thinking about this a lot lately. Most advice I see is generic ("save 1-2% of property value per year") but that never accounted for the actual age of my systems. A roof that's 3 years old and a roof that's 22 years old shouldn't have the same reserve treatment, but most of the rules of...
I’m curious how other landlords and rehabbers are handling flooring in rentals, especially in units where durability and fast turnarounds matter. A lot of investors default to LVP now, which makes sense in kitchens, baths, basements, and high-moisture areas. But I’ve been looking more at commerci...