All Forum Posts by: Bellman Tumasang

Hi guys I’ve read good things about the tellus app I just have questions for the people who use it and know about it? 

Can each property have its own bank account such as a bank account for Property 1 LLC and another for Property 2 LLC?

Can tenants, landlords and property managers use the app at the same time? 

Is it true that Landlords can look at communications between tenants and property managers?

Can rent be paid to the property LLC instead of straight to the property managers bank account then you collect the proceeds and pay the property manager their cut?

I’ve done research and it turns out that TellUs has an app for both android and iPhone for rental property management but is it also possible to do this online via their website like a desktop version? If I had a big property company with many properties and tenants instead of using an app I’ll rather use a website?

Thanks for the answers could you please explain any other features please ❤️

Thank god 🙏🏽 This is the app that I’ve been looking for. 

I’ve heard many people have property managers collect rent paid to the property managers bank account straight up then trust them to wire them their cut. 

I was thinking you could get scammed that way.

Thank you finally 🙏🏽

Can the property manager still communicate with tenants via the app? Have you used the app before?

I want to eventually start a real estate private equity firm like Cardone Capital https://cardonecapital.com/ . Let’s say I want to call my firm Blue Estate.

However, how do I start and build a track record. Do I let’s say for my first deal I plan to pay investors a 6% preferred return and after that a 70% split to investors and 30% to me.

Do I incorporate Blue Estate LLC and then go straight into creating a fund similar to that of Cardone Equity Fund VI which is a fund of Cardone Capital or do I just syndicate a single property deal and create a property LLC paying management fees to my firm to later hire employees and profit splits to investors and myself?

Alright I understand. 

Was rent collected online? If so what platform? How did you make sure the property manager gave you your money? Online system? Etc 

I was just worried in case they steal the money. I was thinking couldn’t all rental income go to me then I pay them their fee. But of course trust.

What percentage management fee did they charge?

I’m assuming that they took their management fee and paid you the remaining majority. 

My issue is that even if the management company is reputable since the money is going to their account they could take all the money.

Can’t you tell them to deposit all the rental income to your account since your the landlord then pay them their cut? That’s more safe and professional is it not. Especially if the payments are online so they can manage with ease.

Ok. What I want to know is whether all the rents goes to my bank account or theirs? Even if the company is highly vetted and recognised isn’t it risky for them to collect all your money then trusting them to only take their cut and give you yours.

Let's say my property rent not NOI is $1m a year.

All tenants pay online using an online service or app etc.

I have a property management company that I pay 10% so $100k.

As the property management company manages the property like the leases, finding tenants, repairs, maintenance etc do they collect the $1m paid to their bank account and I trust that they only take a $100k cut and pay me $900k or can I instruct them to set up the online service where all the rents are paid to me so I pocket the $1m then pay them $100k?