All Forum Posts by: Avi Garg

@Account Closed

Thanks for the info. I was not aware of the regulations. 

We just finished a rehab on a 4 unit in St Louis and looking to see if any AirBnB operators would be interested in renting one of the units. 

Only looking for experienced AirBnb operators right now. Direct message me and we can discuss the details.

@Don Petrasek

I would love to pay $53 water and sewer in lakewood for 2 units .. For my quad in Lakewood, I am paying ~$250 .. started to install the high efficiency toilets

Andrew A. Good idea to compare expenses. Mine are similar so I will list the ones that are different: Gas: Tenants pay this. So $0 expense for me Sewer: $125 .. much higher than yours Insurance: $80 ... lower than yours. You should shop around Tax: $158. I was paying $216 but I contested my tax based on purchase price and my taxes were lowered. Mowing: $33/mow and usually takes 2 mows/month

@James Wise I understand the 30 day process and I acknowledged that in my email to the manager assigned and I wanted to know how will things be handled since 30 days end up in March 2-3 and a confirmed end date to let my tenants know. Just getting an email saying it will be processed tells me nothing.

Also your staff did not inform me that the final accounting will be processed by end of Feb. Below is the email response I got:

"Your request to cancel management with Holton-Wise has been received and will be processed accordingly."

Disclaimer: Current owner of properties managed by HW

I have mixed feelings so I will let the readers decide by listing pros and cons of HW.

PRO:

1. Big company and does a good job. Had an opportunity to speak with a tenant and he praised HW guys who came out to do repairs.

2. Fast communication before signing the PM contract 

3. Repairs are done quick and to the highest standard. Same with turnover

4. James and his team does put out some good material for the wannabe landlords in Cleveland area

5. I have seen some good deals in their email communication

CONS:

1. Repairs are done to the highest standard. A C class property does not need everything to A Class standard which is what HW strives to do and bills accordingly. Now some of the owners may like the finishes to be of the highest standard for a $600-$700 rent/month/unit but I felt it was too much.

2. Definitely not the cheapest repairs as James claimed earlier in this thread. For example, @Brandon Reinhardt property being a D class (as James claimed), it doesn't need a top of the line toilet. A high efficiency toilet from Glacier Bay is $89 vs American standard at $159 (with HW high volume they may be getting that cheaper).

3. Owner disbursement at the end of the month. I knew this before signing so no complaints here just pointing out.

4. Absence of communication. Why put in a phone number for PM when nobody answers or even call back after leaving a voice mail? Even emails are replied late. God forbid if you have to terminate PM. I sent PM termination notice on Jan 31, received communication back on Feb 9 that my request has been received and will be processed. I am still waiting it to be processed today Feb 14.

Again not bashing HW as I knew to some extent what I was getting into. 

@Thomas S. @Don Petrasek @Mike McCarthy @Michael Noto@Kyle J. @Mindy Jensen

Thanks all for your prompt replies. I learned a lot. I did have an inspection done and had to look it up.

For the most part, I will have to pay out of pocket as many of the things to be repaired were included in the inspection report at the time of purchase ( and I did set aside some money for those repairs).

I was just told that they did not pay the partial rent for January and I can still charge them for cleaning, patching walls and nails removal (~100 nails of varying sizes in every wall of the unit).

@Michael Noto So you would return the security deposit even when the damage is tenant's responsibility (and you haven't fixed it yet) and then charge the tenant after you have repaired the damages and hope the tenant will pay? Just trying to understand how it works. I am new and haven't had this situation 

@Thomas S. Thanks. That helps.

@Mike McCarthy @Federico Gutierrez @Bob Collett

Thanks for the info. I guess I knew I had to pay out of pocket for the paint and carpet but wanted to verify. 

However I still have the question about returning security deposit before repairs are made. I am coming close to the 30 day mark and the repairs are yet to be performed. Can I send the itemized estimated bill and withhold the security deposit? The SD is only $600 and the broken item costs > $1000