All Forum Posts by: Benson Davis

Thanks to all for the input.

@Gia Hermosillo Great perspective.

@Robert Masucci  The current lease ends in a couple of months and I more time on my hands so I was thinking about taking it on.

My rental property is managed by property manager. I am considering taking over the management of the property. Inevitably, there will need to be repairs done to the property. Any recommendations on how I can go about finding someone who can respond to any service calls that are made? Is there a group that specifically services rental properties?

@Marc Winter  Thanks Marc.

I own a rental property that has an unpermitted family room that was added before I purchased it in 1995. Our current tenant is moving in August. We are planning to upgrade the kitchen, bathroom and a bedroom. If I call for an inspection on the new upgrades, I am concerned the inspector will see the unpermitted structure and require us to it tear down or upgrade it. Should I try to fix permit the structure?  What is the likelihood an inspector would notice it? I am also concerned about overdue property taxes, as the addition was not documented by the county.

Thoughts?

    

@Ryan Spath I'll pull the data in few weeks to look at the trends in the market. Wanted to get a sense of how other owners might approach the change in rent. 

My current tenant’s lease is coming to an end, and I’m trying to determine how much weight the current economic climate (i.e. inflation, job outlook) should have when deciding on a rent increase. We're currently $300 below the median rent in the area and I want to get closer to market rates. Does anyone look at the economic environment, or is the focus primarily on aligning with local market trends?