All Forum Posts by: Anna Sagatelova

Is there more to this story? Did they explain why they haven't sent you the deposits, what the holdup is, etc - has there been any communication from their end?

Congratulations on the triplex. I think that the earlier you start using software, even free ones, the better. There is a lot more record-keeping to effective property management than just the income and expenses, and the more you can have in one place, the easier it is.

I have to second everything @Nathan Gesner said. We absolutely require it, none of the insurance carriers our clients (over 150 clients) work with have ever given them any trouble over it or charged for it, it's free and takes minutes. The point is exactly that if we get named in a lawsuit arising out of something that happened at the owner's property, we have the same defense as the owner.

Our PM company carries its own insurance policies, of course! I'd venture to say that any PM that has a good management contract drafted by an attorney and that includes this "additional insured" clause certainly has their business itself insured.

Hi Nick, are you looking for a PM in Texas, or in Cleveland, OH?

Or is your question more general?

A good property manager will document all their work, all their inspections, etc. and would be able to furnish those records to you upon request.

If you are seeking property management services in the Cleveland, OH market, please message me directly to chat.
 

 Ok sounds like your jurisdiction's rules are quite different from Cleveland's. Here, it wouldn't even matter if the tenant could put the water/sewer in their name - water/sewer bills stay with the property, not the person.

Wishing you the best of luck - I hope it works out!

In addition to what @Russell Brazil said, it's clear that they are trying to schedule with the tenants to be present for the inspection.

Yes, this is perfectly legal even if they've never done it before. If you are concerned, you should call them as the letter states, and also look up what the "local law 55" is that they're referencing.

I will say this varies tremendously by markets, in Cleveland for example we have lots of A/B properties well over 20 years; some of our highest end rentals are in "historic districts". Of course some new construction in Strongsville is also A class, but so is a 40 year old home in Concord, Solon, Highland Heights.

Whereas we also have new construction in the gentrifying parts of the city, like Tremont, that are directly across the street from boarded up homes. Despite the new construction, the neighborhood is considered B-ish because of the mix of properties around it. This used to be a pretty rough area overall.

Average income levels in a given zip code as well as school districts are good indications of Neighborhood class. If you have an A neighborhood, you can have A and B properties in that neighborhood.

This really depends on the jurisdiction; here in Cleveland, the Sec 8 contract itself outlines who is responsible for each utility. In fact when the landlord submits the packet for approval by Sec 8, they must select who will pay the water/sewer - and most landlords choose to pay water/sewer themselves, as it results in a higher rent determination.

So I see you are getting a lot of responses from various states but please check with your local Sec 8 authority.  It sounds like you don't have other Sec 8 tenants, so this is worth finding out.

There are some serious red flags with your particular PM company based on what you've described; no signed contract and the charges you are showing make it seem like they made separate trips for each complaint, many of which are deemed frivolous. 

I don't think you need to necessarily self-manage, unless you feel like you are truly up for it and have the resources and the procedures yourself. But you do probably need to find a new PM ASAP.

Start vetting PMs in your area, compare contracts and ask them specifically how they handle maintenance requests. What is the maintenance limit, what kind of inspections do they do and what's included, how do they handle multiple work orders or ensure efficiency. Is there a monthly cap? Etc.

A class properties attract A class tenants, and in my experience you might end up with someone low-key and easy going, or you could have a very picky tenant that will pick apart everything.

I think you could just make it a point to point this out at showings so it's not something they come back with a week after moving in.