All Forum Posts by: Cody Roof

Dang! Just missed this, I'll post here and hope to get notified on the next one.

@Michael King Thanks for the input, I'll try and ask for multiple quotes next time around.

@Kyle J. Ah yeah, that wasn't clear, both doors appear to be completely unbroken they just aren't automatic. Thanks for the feedback on how to handle an improvement, I'll keep that in mind for the future or if I do actually end up going forward with this improvement. 

My PM got back with me a bit later and it looks like there was some internal miscommunication so will let the issue slide this time around but will definitely be keeping a very close eye on any repair requests in the future.

Thanks @Ron H., that was my feeling as well, it does feel like they're trying to take advantage a bit, it's a large and pretty reputable PM too (GKHouses) but I'm hesitant to just switch off of them as I've had good experiences with them in the past but if they continue trying to scare me into improvements or rushed and overpriced repairs I'll definitely be looking elsewhere.

Hey all,

Long-time lurker, first-time poster and I wanted to get some opinions.

I somewhat recently bought a house in Georgia through Roofstock and, through some underwriting bungles on my end, it's not performing great (~5% CoC Return compared to the 8-10% I had underwritten due to some unforeseen repairs and some higher fixed costs than I had predicted). So, this is a long-distance investment and I was unaware that it didn't have garage openers but I don't think that would have really changed anything.

The tenants moved in to the place in March and have paid on time for these first 2 months (not sure about May yet), so they seem like good tenants so far. I got an email from my property manager on April 20th mentioning the garage doors are inoperable, this initially sounded like a repair and I was going to just take care of it but through many back and forth emails with my PM, I determined that there were never garage openers so this changes from a repair to an improvement in my mind. 

The cost is $715 for the electrical + $702 for the garage openers (It's 2 single car garages). Total: $1,417

Which finally brings me to some questions:

- How would you guys handle this request? Would you just do it? Would you try and split the improvement cost with the tenants? 

- Would you avoid adding another thing to a property that will eventually break and require a repair? (I think I could maybe increase rents down the road for having it too though so that may offset)

- My PM mentioned that "Unfortunately this is a major component... could be grounds for your tenants to withhold rent payments". If there's nothing in the lease that promises automatic garage doors, is she incorrect?

I'm leaning towards just doing this as I have the money to do it for them and they seem like good tenants so far, it would definitely be an easier decision if I had more time with them to truly see if they would be good long-term tenants but I guess I'm just curious how the pros would handle this little issue.

Thanks,

Cody