All Forum Posts by: Jason McGuire

Thank you for the great responses. I feel like we have a good system in place from a management perspective, but I always like to see what the other side thinks is important as well. 

I am full-time Property Manager/Broker in Florida and manage approximately 350 SFR's. Would like to get your thoughts.

So I read a lot of posts that seem to indicate that the quality of Property Management companies is a large factor for many people choosing to self manage, or they have a Manager that they are unhappy with. I'm curious to know, for self-betterment, what the ideal Property Manager would be for some of you. We are always looking to improve our company, and I feel like you guys are a perfect group to ask.

If you have already hired, or would hire, a Property Manager, what would you expect from them? Assuming that the company charges "standard rates" for your area, what should be included in their services? What is important to you, as an investor, in regards to managing the investment for you? What would make it "worth it"?  

I'm not sure of the laws in VA (in Florida myself), but using some generalities as a baseline, I'd say hold off on an eviction based on the $9.11. A judge may or may not balk at the amount, but the cost to you for filing and just having her pay the $9.11 to dispute the eviction seems more trouble than its worth. I think I would wait until the first day of March, serve a new Pay or Quit Notice with the March rent plus the late rent from Feb. If your state allows, do not accept any payments unless they are paid in full. Once the 5 days are up, file the eviction and move forward from there.

When you serve the notice, you can always ask about the Cash for keys option, if she will accept you at the door. But if she isn't going to accept your calls or talk to you, don't waste your time. If you do talk to her, make sure she commits to a date and don't give her too long, otherwise you are just going to drag out the time she isn't paying rent, and adding the eviction back on top of it.

Being firm on rent and notices, while often unpleasant is the only way I've found to really make a difference when dealing with tenants who are always late. It sounds like you might have a rough situation, so don't drag it out. Remove them as quick as possible and get a good tenant is my advice. Hope that helps.