All Forum Posts by: Ashley Herring

I do not think that these add enough value to increase rents. New floors, updated rooms, amenities (typically in multi-family), I do think that they increase rents. In Florida, I recommend them as it is very hot here and it's best to have air flow in all rooms due to the climate being conducive to mold. 

I second @Christian Longacre! I joined the local InvestHer Community here in Orlando. So far it's been wonderful! So proud of all of you! If any of you are in Orlando, let's get together for coffee and talk real estate. :)

I would send her a month to month agreement inform her of her August rent charges that include her month to month fees. I would make a decision on how you want to handle the lease after that. Your options would be to non-renew the tenants or send them a lease. GIVE THE LEASE EXECUTION A DEADLINE. If the lease as not signed by the deadline then issue a non-renewal and post the property for rent based on the make ready date. 

In my opinion, I do not think this is a great renter. If they choose to not communicate, then I cannot help them. We have a procedure to follow (i.e. either sign a lease, send it to the owner, charge renewal fees to the owner, etc. OR send move out instructions, notify the owner, market the property, etc.). You cannot allow someone else to run your business. This will happen here and there but you've got to be in control. Have you posted a notice to enter and inspected the property? Moving forward, I would enforce the notice period requirements a little more and nip this in the bud a little sooner. 

All in all, like I said before, it's not always going to be the perfect scenario but stay consistent with your policies and procedures and communicate them clearly so that when you do issue a non-renewal or increase their rent to month to month rate or whatever your policy requires, it's not a shock to the tenant. At this point, I would inspect and see how the property looks so you can get a better idea of what is going on. Good luck!

We used to manage a 28 unit community (2 buildings) that was a little older and was not taken care of prior to us managing. Therefore we have no idea who fixed what, how often and it repairs were even made correctly. Knowing this, we had a plan to upgrade the property over the course of 2 years. With that, we would replace toilets and shower heads with low flow, install LED fixtures, purchasing Energy Star appliances, etc. During all of the renovations, we encountered a VERY HIGH water bill that was inconsistent. It was very frustrating as we brought GC's, leak detection companies, and plumbers to help determine the source of the issue. To mitigate, we inspected the units every quarter to check for leaks in the commodes, showers, and sinks. We locked all exterior hose bibs. We upgraded ball valves and installed individual shut off's. We learned the hard way that a contractor may not always find the leak. I discovered that I had to be my own Inspector Gadget and ask as many questions and do my own research. Sometimes it's going to take lots of trial and error before you find the source and eliminate the problem. Hope this helps.

I agree with @Dave Poeppelmeier. We used co-signers most of the time and the parents were happy to help. I preferred it when the parents were there to help with the move in process as I had the opportunity to meet with them and build a relationship with them. There have been situations where the tenant destroyed a rental and I got on the phone with the co-signor and worked out a payment plan to reimburse the owner for damages. As long as throughout the rental process I was communicative (as I should be), and continued to work on the relationship, the co-signer would be very cooperative upon move out and not blame the PM company for XYZ issues that "caused their son/daughter to XYZ the property." (Yes, that has also happened.) Good luck!

@Tyler Clark

I would have to agree with @Linda S. I have been in this industry for over 10 years and have not seen the rental demand this high. Friends of friends, friends of family, random individuals all reach out to me requesting a rental and all I can do is direct them to the best PM companies I know in hopes they have availability. What ends up happening is that the prospect either doesn't get a rental or settles for an area or home that doesn't meet their needs. As @Reid Chauvin pointed out, here in Orlando there are apartments being built everywhere, in addition, investors are purchasing value-add MF's and turning them around increasing value in the community. 

As far as being burnt out, PM can be very draining but it's all in how you handle it. Building new processes and enforcing them, working smarter not harder, and keeping a positive attitude will get you through any challenging role. There are hundreds of other career paths that are just as draining, so it's important to get with a PM company who is willing to try new procedures that are good for both the tenant and the PM company/client. 

As a former property manager that experienced all sorts of situations during the pandemic, I couldn't agree with @Nathan Gesner's post. Documentation is key! As often as things change, whether it be a law/"standard"/administration, it's CRITICAL to document. Thanks Nathan for always providing valuable content!

Hi @Jonathan Radut,

I’m an agent in that area and I’d love to help any way I can. Feel free to reach out. I’ll PM you.

James Krell

I agree with @Nathan Gesner 100%.

As a former PM, I can relate. I was mostly managing SF until our company acquired MF buildings. I then took over that division and quickly came to realize that the MF investors are VERY different than the SF investors. Wishing you all the best!