All Forum Posts by: Brian LeBow
Brian LeBow has started 1 posts and replied 34 times.
Post: Why do a lot of people say stay away from property managers

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
There’s a lot of reasons to use a professional management company. I’m based in California and the laws here are very complex, and a professional pm company will serve and protect owners from complex legal issues. For many owners with a few small properties, we often get hired after they violate the law or are getting sued. Hiring a professional management company can be a great choice in California.
Post: Should I rent out my room to this person...

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
No credit score is not equal a bad credit score. Are you writing a M2M lease yourself? Does her income cover the rent? Typically we ask for income 3x the rent, and credit scores above 620... but if you can’t confirm income, then perhaps you can ask for a guarantor (dad)? Lots of options, but keep it legal and print out your qualification standards, and that way you can apply them equally to any/all that apply and provide them in court if you’re ever sued.
Post: In process of Evicting Tenants and they lost key and can't get in

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
I would add a charge to their ledger if possible, as others have said. Just follow what you wrote in the lease, until they're evicted. It's never good to get creative on charges or delaying access, but especially during an eviction process.
Post: Looking for great property management in Columbus Ohio

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
Isn’t Holton Wise strong in that area?? I don’t have any personal experience with them but see them online doing a lot of promotion. Who will you use to purchase for you, a Realtor off ZILLOW??
Post: Property Manager did not keep records, Security Deposit issues

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
You have to return their security deposit. Poor record keeping is not justification.
You might go after the security deposit in small claims with the property management company, on the basis they did not competently perform the move in.
We're based in California, so not wanting to get too specific with you as the rules are different here.
All the best. :(
Post: What CAP rates are you seeing in your market for multifamily

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
@Amber Saulsbury
For Apartments in LA country - ballpark 4%
Post: Finding Deals on LoopNet

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
@Paul Jelinek there’s no (good) deals on Loopnet - Loopnet is for leftovers!
Post: Condominium Property Management Fee (1000 Unit)

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
@Kaveh Jafarabadi
We don’t discuss our fees publicly. No responsible business should do so.
Call around to large HOA management firms in your area and take a meeting, ask ask lots if questions and interview them. You need a firm that has a lot of experience.
Good luck!
Post: Rental Property Repair Advice

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
@Thai Tran you know any buyer willl have these necessary repairs detailed as part of the purchase -
Of course you can sell. If the value is now 110, most responsible buyers would deduct necessary repairs and/or know defects from the purchase price. Why not do the repairs and sit back while it appreciates more. Take the expense, which offsets any income that you have for 2019 and your going to come out ahead. Do you have a good accountant?
If I can be of service on any of your California properties, don’t hesitate to get in touch! You need experts on your side and those people are worth their weight in gold. You need a great attorney, banker, and tax guy!!
Post: Under contract on duplex and current owner then moves a tenant in

- Property Manager
- Arcadia, CA
- Posts 37
- Votes 17
Who is your realtor? Are you working with a realtor??