All Forum Posts by: Beau Fannon

What what is that line from The Dark Knight movie?  "If you're good at something, don't do it for free." Landscaping is a commodity service these days which means pricing is a race to the bottom.  The really good vendors have to charge more unless you're cool with a bubba from Hutto rolling up with to pawn shop mowers and his half-toothed cousin who can't get the line to come out of a weed eater.

Like I said, I pay a premium for my service because of the quality customer service and technologically advanced user interface. I have found it's possible to negotiate rates and it's very easy to change crews if you don't like the quality of your current service.

Don't add a pool! You'll only get something like $0.08 on the dollar these days.

Can you drop some more details about your properties that have issues? Is your major problem just having crews show up reliably?

I use the Lawnstarter app. It comes at a premium but the app and customer service has been worth it to me.

Thanks for posting the legislation. I read it and agree it's a rather sophomoric attempt but not the worst I seen. Unless you are a slumlord, this really shouldn't have much of an effect on your business. It's all fairly basic.

Derek, the act of renting property is defined as a service. 

The Bureau of Labor Statistics NAICS code 53 Real Estate and Rental and Leasing is defined as a service. 

IRS Publication 527 (2018), Residential Rental Property uses the term service over 100 times. 

My grad school business dictionary defines a service as a valuable action, deed, or effort performed to satisfy a need or to fulfill a demand.

I hate to break it to you, but you, sir, are in the service industry. 

Also, the tax ramifications of your advice are less than favorable.  

Harrison, this is even worse for a cash-basis investor. Please tell me you are not advocating for a cash-basis investor who almost certainly has a lease that crosses calendar year end, to accept prepaid rent for multiple months. Why on Earth would you advocate for a cash-basis investor to recognize several months worth of income in the current tax year and leave the expenses to offset it for the following tax year?

^ this. @Scott Smith is laying down some solid wisdom and strategy.

I've I've experienced something similar. You need to get a Restoration company out there to take moisture measurements of the wall and baseboards. The interior humidity needs to get down below 35% ASAP or mold will grow. The mold will especially grow if the sewage water got the walls wet because it has a lot more to feed on.

Are you okay? Are you having a stroke? Not only is that a horribly long sentence, it's practically unintelligible. Who would pay more for a house with no electricity?

Your projected operating cost seem light. I wish $700 was all I spent on repairs annually per unit. You have a for-profit laundry room but no money to maintain it or repair the machines. I don't see any expenses for the cost of leasing. And the landscaping seems light unless the property is devoid of all trees and grass. Where is your expense line item for maintaining property drainage? Floods are a royal pain in the the @$$.