All Forum Posts by: Chad Hale

I run my own credit reports with the information provided on the application.  Tenant's are welcome to provide their own reports.  However, I still run my own.

I use TenantAlert.com

@Sundeep Yerramreddy  I'd plan on $300/sf if not more depending on materials, design, etc.   Cities are reasonable about permits.  Just make sure you use someone who is familiar with that particular city.  Plan on a year, perhaps longer.

As a PM I return calls/emails as quickly as possible or at least say "I'm really busy at the moment I'll call in X time".

In any event, acknowledging the contact at a minimum.

@Vic Wong  In CA you need a real estate license to perform property management.  As an agent you need to be working under a broker.

Practically speaking, you need knowledge and expertise in these areas among others:

• Landlord / Tenant laws
• Fair housing laws
• Marketing
• People skills
• Business skills
• Systems/organization in place for all aspects
• Contacts for cleaners, painters, contractors, hvac, handyman, etc
• Accounting system
• Various documents:  lease agreements, 3day notices, MIMO,  applications, inspections/maintenance

Hope this helps

I've been happy with BJ at 

Fitzpatrick & Tucker Inc.
Certified Public Accountants

@Ali Ahmed

How many units are you servicing?  How many machines do you need to lease?  Can you terminate the lease early for any reasons?  

Can they provide any hard data on the increased income when shifting to a credit/coin system?  Will they guarantee an increase?  Seems like you are taking more of the risk.

Which vendor are you working with?

Hi Derek

Can you send me the address?

thanks 

Chad

@Shay Lee   Though bay area rents have cooled a little, you should act based on your specific location and situation.  Yearly rent increases even if minimal are good for setting tenant expectations (of course the market has to support it)

@Michael Ehmann  I like your thinking.  Depending on how big of a complex, you may be able to get companies come to you to give free financial training/planning?  See if any of the local colleges or social service agencies have any programs that you can promote or even pay someone $100 to come teach a few classes.  Some churches offer financial education as part of their holistic ministry.  Partner with one of them?

I think you just have to find the right people to donate (or reasonably paid) their time to helping better fellow humans.

@Dennis M.  I would not be worried about educating and losing the tenants because they have improved their life.  If anything Michael will develop a good reputation in the community and people will want to rent from him, a fair and just landlord.

rough budget $300/sf

Call the city planning and ask your parking questions.