All Forum Posts by: Alan McClain

@Lance Alotti

I classified it as cosmetics because it is nothing structurally or operationally wrong with the unit. Someone could technically live in it, however it is not visually appealing.

@James Wise

Their pricing is actually on the higher end than most in the area, however it is based on rents collected where other managers charge flat. My thought was I'd rather pay more, guaranteeing cash flow than pay a manager to sit around.

@James Wise

I agree, if I walked into a half finished property I would not be tempted to move into it.

As for the management, I've had mixed feelings. I do like the company's pricing structure and online reporting. Also, the manager is responsive to my texts/calls. Definitely worth a review when my PMA nears expiration.

@Brooks Rembert

That was my thought as well, thank you!

Hello BP community,

I have a duplex and SF in a transitioning neighborhood with a property manager managing the properties. The SF and one side of the duplex rented very quickly once placed on market as they were rent ready. However, the other side of the duplex has been vacant for 3 months now and begging to get concerned.

Some minor repairs need to be completed in order for the unit to be rent ready (fresh pain, cleaned, touched up). However, the property manager believes he can show the unit in it's current condition before making the repairs to rent it.

I'm beginning to think the repairs need to be made prior to showing to help rent the unit.

What are your thoughts? Do you typically make repairs prior to showings?

@Brandon Sturgill

Thank you for the information, Steve does appear to be operating at a higher level than my current needs. I will have to talk with Ben and Steven Umana.

@Peter Lohmann

Thanks for the response! Have you worked with him personally?

@Brandon Sturgill

Thanks for the reply! Multiple people have recommended Steven Umana. Have you worked with him personally?

Does anyone work with a great real estate attorney in Columbus, Ohio? Looking for asset protection with entity formation/structure/cleanup and general real estate law-contracts, leases, etc.

@Alyssa K.

Hello Alyssa, I work for a bank helping businesses manage their cashflow and thus work with a lot of property management companies with rent collections. This is not a Cozy issue and a risk everyone takes when dealing with electronic collections as there typically is float time between payments. This means that Cozy most likely gives you the credit for rent before they collect the funds from the tenant. So if Cozy never received the the funds, they will debit your account as they are not responsible for making sure your tenants can pay the rent.

If the customer did not have funds in their account, the bank can decide on whether to pay the item or not (most banks will return the item automatically). It sounds like they returned the item for NSF and that is why your payment was reversed. The only way to eliminate this issue is to accept cash. Otherwise this is just the risk of doing business as regular consumers are very protected when it comes to transactions on their account.