All Forum Posts by: Julie Marquez

My family has managed our own properties for over 35 years, so we have a little bit of experience and knowledge. We aren't perfect, but the forms have been tailored to all our specific issues over the years. I've been talking to professional property management companies over the past couple of years and I am kind of interested in getting some help. I was thinking that I could start with (1) of our (4) fourplex buildings (they are all next to each other, but different addresses).

We have some pretty specific things that we have found work well for us, can I ask that the PM have the same terms (even if it is different than their norm)? Like month to month (instead of year leases), rent late the second day (instead of the 5th), and a limit to the number of vehicles and working on vehicles and storing vehicles. Can one building have completely different terms and rules while a building with the same owner, but managed by myself, has completely different policies? I don't want to get into the issue of discrimination - so is that based on the manager or the owner?

Anyway, I am really reluctant to give up control but am willing to try it with one building. Even though we might be working right next door and see our old tenants, but not be in the place to accept their rent or help them. I'm interested to see if having a property manager is really helpful for us, or just a burden to have to manage. I understand both sides of the PM/owner coin, I guess I won't really know how it plays out in my life until I try it.

@Jordan Radke I would love to meet up and could make Nov 14

Very cool project! I didn't see any rains in the time lapse! How was the design phase? Did you have to deal with a lot of add ADA requirements? 

I work in commercial construction and I'm personally building a duplex right now, so I love these stories!

@Ray A Delfi We used to pay for everyone's basic cable through a bulk Comcast account, but just got rid of it. I don't think everyone was even using or even cared that we got rid of it. Wifi would be more convenient, this was just left over from the cable heavy days.

@Megan Cassidy Welcome to Bigger Pockets and the new world of real estate investing. My family and I do creative real estate investing in Skagit County, and really try to know the zoning of Anacortes and Mount Vernon, that has really helped us with our endeavors. Skagit is a tough market now, but there are ways to be creative!

@Rob B. All good tenants with no big issues, so I guess there is no big reason to screen again. I just need a new rental agreement for most of them with updated contact info on both sides, and updates to the washington state law need to make it into the agreement. I have one agreement from 19 years ago!! 

@Michael Blank That's a good question if they can afford a rent increase, I hope so! Most of what I'm doing now is an increase that hasn't happened for years, and a regular yearly increase is about 2-3%.

@Bjorn Ahlblad Such a good topic about leases versus M2M. We start M2M from the beginning; that way we can easily ask them to leave if it isn't working and we have found that people will leave when they want regardless of their lease. I like the flexibility and control M2M allows, and it doesn't stop people for staying 4, 6, 7, 8, 17, 19 years. I just give them yearly notices to raise rents.

@Bjorn Ahlblad An inspection is probably a better use of my time and a better indicator of the apartment and tenant well-being at this time. Good suggestion! Do you schedule the inspections far in advance, or shortly as more of a surprise? I wonder how different they present themselves when they have time to get ready.

The company is broker is local to Skagit County, Washington. It is with SafeCo insurance, I'm not sure if you have them on your coast, the Seattle Mariner's play at SafeCo Field (used to until t-mobile paid more for naming rights)