All Forum Posts by: Jennifer Ruelens

I have been saying the same thing, my delinquency hasn't changed in proportion to my overall rent roll 2019 vs 2020.  Now that isn't because we didn't work extremely hard to collect rents in 2020, because we did.  But we were able to collect, legally.  I have seen similar scary news stories about eviction avalanches and massive homelessness when these moratoriums expire.  My national trade group, NARPM and large multi family operators are reporting similar numbers of 94%+ collections, on par with non-COVID times.  However, there is a massive amount of delinquency out there and it is disproportionately being shouldered by small landlords who don't have the benefit of a well-qualified tenant base or legal and administrative capability to manage these moratoriums. this legislation hurts regular people who depend on this income and not the massive companies.  

My property management company and several clients use Emert Accounting in Lock Haven and Williamsport, I highly recommend, especially Beau Vincenzes. He is a REI so he gets it.

No, evicting tenants with your own means as opposed to using the court system is self eviction and against the law.  Its also dangerous.  If you are going to own a rental property, learn how to manage it.  There is no excuse for self eviction.  You can negotiate a lease termination if you need to, but do it in writing and don't threaten or intimidate the tenant.  This is the kind of stuff that gets lawmakers eager to legislate.  

The PA Landlord Tenant Act will govern the deposit rules. You may collect up to two months security at move in, but at the start of the second year, you can only keep one month of security.  So no separate security deposit for cosigner.  If you are collecting last months rent at move in, you need to consider that security deposit, based on recent case precedent.  I have my co-signers sign the lease as a co-signer non resident of the property and detail what that means in the agreement.  

If I found a contractor that could be managed via phone or video calls I could make them very rich.  I don't think it is possible. I find it challenging to keep projects on time and budget and I can and do visit my sites regularly and talk with the contractors. Good luck though- let us know what works for you. 

I will let the other posters address the deficiency in your potential purchase.  As far as your agent, yes, you should go to the Broker to report what you feel is bad representation.  The broker is the boss and can handle it.  Good luck!

@Drayke Jacobs-Van-Tol Contact the PA Real Estate Commission. I know they require a criminal background check but don’t know is there are permitted felonies. Sorry to say but my guess is no. This requirement is about protecting the consumer. Plenty of ways to work in real estate without a license though.

I second Neil's sharing of the PA Landlord Tenant Act, read that and get yourself a fair housing course.  I like to use Stephen Williams and Brett Woodburn, both excellent real estate attorneys in Harrisburg.  I know property managers aren't for everyone, but if you are making a significant investment and can't afford to let it fail, working with a PM who allows you to be part of the process can be an education and a hedge against any risky moves.