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All Forum Posts by: Domenick T.

Domenick T. has started 0 posts and replied 189 times.

Post: Any software recommendations to manage your properties?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

Depends on what you want to do specifically.  For rent collection many of us use Cozy but they are now switching new users to Apartments.com which I've heard isn't as good of an experience.  Avail is a great alternative.  They both offer maintenance tracking too.  Avail also offers free state-specific leases so that's a big plus.  Google " online rent collection comparison " for much more detailed comparison of what's available.

Post: Cozy.co Doom is near?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

@Jeffrey St.Laurent

This is my fear when they make the migration for existing Cozy users. I’m hoping they understand that Cozy is a much better UX and change the Apartments users to the Cozy platform instead.

If not, I will likely be moving to Avail. That’s a close second for me.

Post: How best to encourage online rent payments?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

Another thing you can do is require tenants to use your PM software service to report non-emergency maintenance issues.  This requires them to sign up which is half the battle.  Then keep encouraging them to use the ACH transfer to pay rent.  Some services help tenants build credit as they pay on time.  That's a decent incentive as well.

Post: Expense tracking with cosy.co and other software programs

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

Cozy's expense tracker is simple and easy but it doesn't give you "reports."  It will just give you a .csv file you (or your accountant) can then use to create the reports you need.  Google "Cozy expense tracker feature review" for a detailed review of how the Cozy expense tracker works.

Post: Rental turnover - Remodeling kitchen /bathroom

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

I use a punch list priority matrix to see what impacts the most tenant value for the lowest investment cost (time and money). I focus most of my efforts on the low-investment and high-impact quadrant for normal turnovers. But you are describing more high-investment and high impact projects so you want to run an ROI and Payback analysis vs. the expected life of the upgrade. The goal is to maximize the useful life at the lowest cost. Message me if you want more info.

Post: How to tell that house will rent in that area?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

I like to look at the % of rentals in the area in addition to some of the other stuff mentioned.  City Data is a good place to start.

Post: Eviction Lawyer: New Jersey

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

@Abigail K. I know a few landlord lawyers in the area who might be able to help.  Send me a message with your property locations and I can tell you if I know any in that area.

Post: Should I go with a tankless water heater?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

I've used them in rentals with very tight spaces to allow for washer/dryer.  They are expensive and difficult to find qualified technicians.  I wouldn't use them unless space demands it and there is a payback (as was the case in my situation).

Post: How much info can you request from tenant screening?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

@Sam Li. That credit score is really low. I’d be worried if they said they can’t come up with the required SD (not sure what is the max or norm in your area) and have a score like that. 

Post: How much info can you request from tenant screening?

Domenick T.Posted
  • Investor
  • Springfield , NJ
  • Posts 192
  • Votes 92

@Sam Li

App fee, SD and first month rent

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