All Forum Posts by: Ricardo R.

@Kyle Castle I can certainly cover it here however, my intent was not to highlight our services here and put ourselves on a pedastal for promotion, this forum was meant mostly to help self-managing investors/landlords. I'll cover it here and if you need more information you can certainly DM me if you would like, if that works. 

Evicion protection is something we offer, and some other PM companies offer as well and I believe some insurance companies offer too. Tenant screening can not be highlighted enough and it typically goes hand-in-hand with eviction protection (at least on how we provide it). The main jist of it is that eviction protection is exactly that, it offers the owner (you) a financial buffer should there be the need for an eviction and some if not all of your legal costs should be covered with this. We offer it as an adjunct service and depending on the plan it depends on the cost but it's relatively inexpensive. It gives you peace of mind knowing that you have something in place should you need it and is somethign our new investors find helpful.  

I hope this helps you. If you need any more info feel free to DM us. 

@Kyle Castle thanks for reaching out. I think for certain one of the biggest hurdles starting out and one of the biggest things you have to wrap you head around is that - NOT EVERY OWNER is like you and not every owner means well. Usually one would think that Tenants are were the liability and issues arise and although there will be issues there, they are all quite simple to handle however, owners can certainly get you in trouble from a liability standpoint. For example: An owner might want to 'co-manage' with you; so here we have a person which doesn't know how to manage which is not licensed, receives no formal scheduled training..  which is why they hired you, now is an expert on management trying to change trued and tried systems. Another example is the 'hyper involved' or 'absentee' owner; some Owners want to stop by the property every 2 weeks, others want to intrude on the Tenant's rights, yet others do not want to do any repairs on the property (slum lords) BUT the catch here is that it will all fall back on you as the manager. 

These are just some a few items not many starting a PMC think about... most of the liability and the issues lay with the Owners. The best way to approach this is from purely a business and service standpoint; I'll say it again from a service standpoint - Owners will want to approach it as a 'partnership' whereas if they have issues, then you have issues and you share the responsibility of their dilapidated property or their ill performed decisions with them BUT at the same time some will want to nickel and dime you at every turn, in an industry that operates on nickels and dimes.... so my advice is for you to approach it from purely a service standpoint, no different than that from a landscaper, or plumber, etc. Without being callous you should certainly reach the point where two main rules apply 1) it's your way or the highway - your system or no system and 2) you provide a service and thus will be compensated for your time regardless of what outcome the owner is trying to achieve. Focus on providing good service but within your system, if an owner is trying to change it be quick address it fairly and explain and if that still does not work certainly let them go and cancel their agreements... focus on responsible, fair and reasonable owners.  

If you found value in this, we would certainly love to have your honest review. I hope this helps. 

@Collin Seaton thank you. 

Hi everyone, veteran owned property management company here with licensed and professional experience in property management and real estate investments. This is just an open forum for any private landlords and/or investors. If anyone has any property management questions go ahead, shot and post them on here and we will do our best to give you our advice... you don't have to be local... if you have a question post it here or DM us (we're easy) and we will do our best to answer it and don't worry this is not a sales gimmick, we are simply providing answers in the hopes of earning your review. 

If you find value in our advice, the only thing we ask is for an honest google review for our company on google: 'G3 Management & Investments' of Howell, MI... we would obviously love to have your review... but you don't have to... we will still provide you with awesomeness.  In the end we hope we are able to assist you in moving forward... so let the questions begin! 

@Account Closed I'm sorry and I don't mean to offend but... a fool and his money are soon parted

@Carlos Ptriawan

@John Landskroener I'm sorry but maybe I'm not understanding correctly but how is this a new product? -- This is already done/offered by almost any other broker in the country.  

@Kevin D Key always happy to assist another military Veteran. In my opinion your Option #1 is best and here's why...  

It keeps it 'in the family' and you will give your son an immediate asset, as opposed to here is some $ go buy an asset; life happens maybe he does maybe he doesn't - so in this manner your son would have the asset and would actually need to take actionable steps not to have an asset whereas if you gave him $ he would need to take actionable steps to gain an asset --- Option 1 is an 'insurance' to you upon your death that you are sending your son down the right path. Hope this helps. 

@Shannon Brill we like RUBS too but for larger bldgs.  -- If the units are the same footprint, then why not just do 50/50 on utilities for each side and 100% when one is vacant. This is quite common and we have many duplexes we do this way and haven't had any hassle and in actuality it is much easier for everyone. 

The issue with RUBS is that it is fluid and it hinges on the # of occupants and this poses issues: 1) A child uses less than an adult; 2) a worker from home uses more than one that drives to work; 3) A couple may have a child during tenancy which they fail to divulge; 4) friends and family may visit for a few days during holidays.... etc. etc. etc.  --- and... these issues become issues for the other Tenant and then turns you into the constant 'utility police' because you constantly have to monitor # of occupants... eww. 

50/50 is simple and simply understood and 100% while vacant is also simply understood. And you can tailor it to you, so 1) You certainly don't have to charge 100% while vacant (dependent on bldg. layout, thermostat access, etc.) and 2) You can tailor the Gas/Electric as you have brought up so maybe 50/50 all except 60 unit 1/40 unit 2 for electricity... etc. 

Sure one unit may have more occupants than the other, etc. but this is quite simply the simplest way and quite arguably the fairest way because of the issues with rubs above ; ESPECIALLY when this understood by the Tenant before moving in -- instead of focusing on utilities for the individual (RUBS) you are focusing on utilities for the space. Just a different method. 

@Shannon Brill I think you might be overthinking this for a duplex. Is RUBS required in your area? If not, what is the sq.ft. of each unit and how many bedrooms in each?  

@Carlos Quiros no worries Carlos. Well 'C' areas may or may not be too bad; but I think we are on the same page, shop the neighborhood... it's a long term investment, so you will be happy you did. I'm in Michigan, so we certainly have some war zones and D neighborhoods (Detroit and flint) and we also have some A's and B's but really... B's are what we aim for. I sent you a DM on BP; if you can assist it would certainly make my day.