All Forum Posts by: Kenny Dahill

Jaco, do you already have properties in Akron?

Hi Shiloh, I wanted to chat about managing strategies for larger portfolios.

Wow @Mary Ann Casey, nickel meet dime!

First off,  it makes absolutely zero sense why you would pay a fee for a late fee.  Ever.  Although I have a hunch who the current PM might be, I've been warned about that clause in another state.

6% commission is because PM's often have a sales clause in their agreements.  Something to seriously consider if you ever decide to sell.  And if you're unaware about that clause, they could attempt to collect on their commission.

$25 per month doesn't bother me too much because often fees are based on rent 'expected or collected'.  This appears to be a 'collected' plus a small 'expected' fee just in case.

I will send you a DM with information about a new PM.

Hi @Fredrick Hock, it's important to understand fees (monthly, tenant placement, account set up, lease renewals), late fees (split), inspections (how often and/or how much per inspection), and mark-ups on vendors.  Those are the fairly bigs one.

I'll send you a DM with info about how Burbz can help you.

If you're an Arizona investor with 10+ properties here in the state, please send me a DM.  I would like to chat.

Hi @Myisha Williams, I sent you a DM with some information that will hopefully help you out!

Hi @Eric Black, I sent you a DM with additional information in case you are still searching.

It is commonly stated that management companies run on a thin margin for profit and loss.  I'm curious what the general budgets consist of that causes these thin margins.  For those who run their own firms, I'm intrigued to see what percentage of your expenses come from:

PM Income

Operational Income

Marketing

Legal

Office

Office Overhead

Licensing / Broker Fees

E&O Insurance

Other

Does RPM not utilized digital tools?  I assumed they did.

I would ask for an explanation on the plumbing issue.  Their handyman could have been busy, or they might have a policy to always send a plumber to accelerate the remediation process.  What was the cost difference? 

I have seen PM's charge $75-100 per additional inspection requests.  It depends how often and obviously the scope.  If it's simply a monthly drive-by that takes very little effort.