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All Forum Posts by: Jordan Myer

Jordan Myer has started 0 posts and replied 82 times.

Quote from @Michael Geary:

First time investor…looking for input on PM companies that deal with section 8. Thanks 


 I would check google reviews 

Quote from @Orhi Tahi:

Hey Investors,

Do you buy home warranty for your rental ?

For example: 


I thought this can be a good way to avoid big repair cost for old homes.

Thanks,

Orhi


 We won't manage properties with home warranties. Turns a same day emergency fix into days or weeks and adds lot's of money in hotel or relocation costs for you. 

Quote from @Suzanne Ferguson:

My tenant signed a lease 3 days ago.  We did a complete walk-through of the house - no smells, etc.  This morning she is contacting me saying there is a strong "pee" smell in the kitchen and she believes feral cats are living under there.  Is it the landlord's responsibility to take care of this?

Thanks


 3 days ago? I would at least send a handyman out there to check 

Post: Calling All Property Managers

Jordan MyerPosted
  • Posts 84
  • Votes 35
Quote from @Gabe Chase:

Hey everyone! Quick question for my property managers. What is the best CRM that you have found for managing clients? Currently using HubSpot. But curious if there are better options/recommendations! 


 We use Appfolio for our landlords and tenants. LeadSimple for the sales side

Quote from @Peter Sik:
Quote from @V.G Jason:
Quote from @Peter Sik:

i have a rental property at Murrieta, CA sitting in the market for 2 months, the condition is good and the rental price is at the lowest. Have requested my PM to host an open house but they do not offer this service. Want to know what should i do to get it rented. thanks


 It's a winter market, so likely slower but even so for 2 months to be sitting the PMs need to be more proactive. You need find a better PM and re-do this, in my opinion. Likely off in price, but could also be a more advertisement. They should have told you around Day 10, hey leads are low from what we are seeing and figured out how to adjust. No later than 3 weeks some firm adjustment should've been done.

Find new PM, one that's proactive!


 Thanks for fast reply. At the very beginning, the PM wanted to list BELOW market price, I didn't agree. So it was listing at medium to high market price until now adjusted to lowest market price but still higher then their suggested price. I mean with such PM experience, what they can only do is lower the price under market price to get a tenant? Where is their marketing skill?? 


 Sounds like the problem could be that the price was lowered too many times. Potential tenants will see this as a red flag ( is there something wrong with this property). They should take down the listing for a few weeks and re-post

Post: House inspections during a lease

Jordan MyerPosted
  • Posts 84
  • Votes 35
Quote from @Leslie D'alessandro:

Is it Ok to take pictures when inspecting every 3-6 months in property with tenants present during a lease? These would just to document the state of the property.

Would it be braking privacy laws?

The property in VA.

Thank you!

Should be okay as long as the tenants know ahead of time that pictures will be taken. I would stick to taking pictures of any potential maintenance items - taking pictures just for the heck of it seems like overkill 

Post: Walking Your Investments

Jordan MyerPosted
  • Posts 84
  • Votes 35
Quote from @Caleb Sonneman:

How often, if at all, do you recommend walking your long-term investment properties? What I mean by ‘walking’ is either you personally, or your PM, physically walking through the unit to ensure the renters are taking care of your property. 


 I'd say 2 - 3 times/year minimum 

Post: Looking for new Property Manager

Jordan MyerPosted
  • Posts 84
  • Votes 35
Quote from @Sakis Panou:

Hi all, 

I am a new investor, looking to expand my portfolio. I already have a property in San Antonio and I am looking for recommendations for Property Managers. I would love to find someone who is able to look after my tenant(s) in a timely manner, with long experience and is investor friendly. 

Any recommendations, suggestions will be greatly appreciated. 

Thanks in advance !


 I would take a look at google reviews. People will go out of their way to leave PM's a bad review so PM's with great reviews are usually worth whatever their fees are. 

Quote from @Adam Christopher Zaleski:

I had a tenant for two months. They got evicted for not paying rent and eventually left, but on their own terms. It's a 20-year old rich kid that has zero accountability. His dad is very wealthy and is a bully

His son left owing 18 days of rent, cleaning fee, late fees and some lawn maintenance fees because he didn't mow the lawn for 30 days and mowing the lawn was part of the lease. 

The dad wants a full deposit return minus the cleaning fee, which is not even connected to reality. He also mentioned that he thinks there is a gas leak in the rental unit and his son had to go to the doctor twice to get treated for head aches. This is a totally made up story. It never happened. I interpret this as a threat and intimidation. I have all the documentation needed to show that he gets zero deposit back and still owes an extra $1500. 

All deposit disputes are handled in small claims court in my state, no exceptions. If we go to small claims court, I win. He doesn't have a chance. As a result, I think he is going to try alternative methods. I am expecting a threatening letter from a lawyer in 1-2 weeks. Any ideas or suggestions on how to handle bullies? 


 I would talk to a real estate attorney. If possible, as mentioned above, use the deposit to bring the account current. As far as the dad goes - he is blowing smoke. He is trying to scare you into giving his money back . 

Quote from @NA B.:

My fairly new renter who has a company paid stipend for the rental home expenses wants to remove her husband and add her new boyfriend to the lease. (I told her he needed to be added if over 18). Now wondering if I truly want this new, possibly non-financially capable person to really be on the lease. Is it required? What if she leaves town to next company move (stated as a possibility) and he stays and doesn't pay rent. Looking for good advice please & thank you! 

*I used Zillow for her and her husbands background checks/lease signing so now I can't get another background check run on new guy...


 Him being on the lease would make it easier to evict for non payment right? In Kansas City once someone has established residency (clothes in the closet, mail sent to that address, etc) they are your tenant whether or not they are on a lease (or even supposed to be living there). Not sure what the laws are where you are though