All Forum Posts by: Adam Bartomeo

If they were good tenants in every other way and they were 100% caught up then we would put them on a month to month lease until they prove that they can pay the rent on time. This gives you the ability to remove them at anytime without being locked in.

I don't agree with your PM but it is very common in the industry. We charge the monthly percentage 10%. The owner gets the other 90%, except for any refundable deposit. That has to be held in escrow.

We have done it both ways - tenant on the lease with assistance and assistance on the lease without tenant. It is really a decision of what is more advantageous for you. We prefer to have the tenant on the lease and not the assistance company. We have found that most assistance programs are absolute crap and wind up not paying the rent. I would check into your eviction and squatter laws.

It's not the tenants fault the PM won't give you info. Be flexible with your standards when times like this present themselves.

The USA is a "Sue Happy" country and people threaten to sue for every reason under the son. We do not allow anyone, including tenants to try and bully us by threatening to sue. We try to work with our tenants to be fair but once they threaten with lawyers or courts we shut it down. We tell them that they are welcome to seek legal counsel and moving forward we will only communicate with their attorney. Funny enough, we have never been taken to court.

LOL! We would change the locks and charge the tenant for it. 

I rent to friends, family, and employees as often as possible. I have had a lot of success with renting to them although there may come a time when the wrong friend wants to rent and I will have to reject them.

You will want the leases, contact information, and the deposits to transfer over. Before closing you will want to contact the tenant and inform them how and where to pay, how to manage maintenance requests, and who to contact for concerns.

We charge $500 per unit. A lot of companies charge the commission for the remainder of the property management agreement.

I always like to meet people in person but the majority of investors that work with me rarely meet me for years. We have phone calls, texts and emails. Every once in a while, we do a virtual call. AS long as you are doing your research and asking the right questions there isn't a need to meet in person.