All Forum Posts by: Krishna Chava
Krishna Chava has started 20 posts and replied 137 times.
Post: Would you rent to Section 8 for $85 more a month?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: Would you buy in a "sketchy" area with positive cashflow?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: What to do about groups of people loitering around my building?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: Tenant installed alarm without consent. Can I ask for code?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: Do people like laminate floors?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: Help Me Save My Career

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: Small multi family: What is your property management model

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
Post: Small multi family: What is your property management model

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
How do you manage an apartment complex with less that 70 units? Do you have an onsite property manager and/or onsite maintenance tech?. Do you directly employ people or pay a property management company that employs onsite staff? (similar to large apartment complex model).
I own 75 units, 50 of them in same subdivision (own most of 2 streets). I let my maintenance guy stay for free in one of the units, pay him when there is work, let him find work when I can't employ him. I manage everything else myself. So far working good but not a perfect or scaleble solution.
I am co-founder of a startup developing Artificial intelligence based monitoring tech to constantly watch out for any issues either with tenants or maintenance issues. We are in engineering phase and seeking feedback from bigger pockets community about the pain points in managing small multifamily properties.
Post: How do property managers get rewarded for increasing rent?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
@Dick Rosen I know good property managers that do the right thing like you do. Increasing the rent once the rent is at 90% of market rent needs lots of hard work. A small percentage of that rent increase isn't incentive enough in itself. I feel incentive system is broken in property management model at least for SFH and small multifamily homes.
Post: How do property managers get rewarded for increasing rent?

- Specialist
- Carrollton, TX
- Posts 145
- Votes 100
@Account Closed Agree with you that incentive for property managers should be to give stable long term returns to the owner. If property manager get paid a percentage of profit owner makes as opposed to percentage of gross rents, it would be fair compensation. As for your analogy of 200 unit complex, most of these are maintained by large national property management companies that charge 4% of gross rent + payroll expenses. They don't get 10% of increased rent.