All Forum Posts by: David Peschio

We include dishwashers in most of our units, but I would say they’re more of a necessity for the larger homes and units. That said, I completely understand your concerns about the risks and maintenance associated with dishwashers in rentals. They can indeed be a high-maintenance feature with potential for costly damage, particularly in multi-level properties.

However, they are often seen as a desirable amenity by tenants and could influence rental value and marketability. One possible compromise might be to assess the demand and price point in your area. If you’re targeting higher-end renters or families, a dishwasher might be a dealbreaker. On the other hand, for smaller units or studio apartments, skipping the dishwasher might be a practical, cost-saving option.

Another approach could involve investing in higher-quality, more reliable dishwashers and ensuring tenants are educated about proper use and maintenance. Adding a water leak sensor or protective measures to prevent damage might mitigate the risk. But ultimately, it comes down to your market and financial strategy—whether the potential returns justify the costs and risks.

 For both the client has reached out with interest = so not really a cold lead.  We typically will call and then follow up with emails if necessary

We utilize a site called AllPropertyManagement.com to help pay for leads and focus heavily on optimizing your website to ensure it ranks high in your local area for organic searches. This is crucial for building a strong online presence and attracting property owners naturally. In the meantime, using AdWords is an excellent way to gain immediate exposure while you build your organic traffic.

Not sure of the 30/60 day question but we would not renew a tenant's lease if they have a history of late payments and do not pay late fees. Similarly, we would apply the same criteria if we were handling the tenant placement ourselves; we would not accept an applicant with such a payment history.

You should be covered as long as your lease agreement specifies that tenants are required to have the property deep cleaned upon move-out.
Our process involves either receiving a receipt from the tenants as proof of professional cleaning or arranging for the cleaning ourselves and deducting the cost from their security deposit. To ensure clarity and avoid disputes, we also provide tenants with a detailed description of what a deep clean entails a few weeks before their move-out date.

We've started incorporating videos into our property listings. This new approach allows prospective tenants to experience the flow of each home virtually.
The results have been fantastic. We've noticed a significant decrease in the number of initial inquiries and calls, and fewer potential tenants are surprised during in-person viewings. This process has proven to be an effective tool for setting expectations and streamlining our operations.

Having worked in property management for over 25 years, I've observed that everyone approaches it differently. Individual owners have their methods, and property management companies have theirs. Misalignment between these approaches can create a frustrating experience for everyone involved.
It's best to seek out a company whose values align with your own. This is a partnership involving a significant investment, so ensuring that all parties are working towards the same goals is essential.

I agree with the comments above.  Don't rush your first deal and keep looking.  Plenty of deals out there - just need to be patient.  Loss occurs on the purchase so take your time.

I've reviewed the feedback, and I think many points are valid. In my experience, property management is a partnership. Owners often have specific preferences for how their properties are managed, and property management companies each have their own style.
Things tend to go smoothly when these align. When they don't, it can be challenging. Finding a property management company that aligns with your preferences is key to a successful partnership. Entrust the daily tasks to them and enjoy the returns on your investment.

I'm concerned that using a home warranty (HW) could lead to losing good renters. The wait times are long, and the contractor quality often doesn't reflect well on the property management.
In my experience, it's usually necessary to hire someone outside of the home warranty system to get timely repairs. I suggest you consider foregoing the annual home warranty fee and instead allocate those funds directly towards repairs.