All Forum Posts by: Elizabeth Goff

My original property manager was sold to a new PM about a year ago, and I have just recently signed the new contract, which come to find out says they will withhold "10% of rent charged".  They are now trying to charge me 10% for the past year for my non-paying tenant  (still waiting for covid funds). On the last tenant with covid funds they did not charge me until the rent was collected from the agency.  Basing it on rent charged does not give them any incentive to get the rent from the tenant, obivously.

Is there any other property manager out there charging as a percent of the rental charge, regardless of whether the rent is collected or not??

Oh no!  You guys took out the ability to sort by 'most recent' vs 'most relevant' during when searching in the forums?!  This is a big loss -- I don't want to see things things from 8 years ago when I'm look for recent info on markets or whatever.  For me this renders the search function almost unusable :(  Please bring it back!  

And small thing, but it's a bit hard to see the date if you do need to scan them after searching, maybe keep it in black since it's already smaller anyhow?

They owe you a bunch of money.  As you have not received the rental assistance yet, I'd give them the 'bill' for the whole thing spelled out (security deposit less damages less rent owed).  You can tell them that when you get your rental assistance you can give them some money back (assuming the damages didn't swallow the entire deposit).  They may be able to make the rental assistance go faster as in many states it's mostly in the hand of the tenants.

I'm not sure it will be an issue.  Most electricians I've talked to say it is likely fine.. issues come up if walls were insulated etc. My understanding is this is what makes it dangerous. 

Yes some insurers won't insure it, but for some it's not an issue.  

Whether or not you have to disclose for a sale is dependent on the state, so talk to a realtor.

And will also say your quote to replace sounds outrageous, so might start there!

There are lots of tax benefits, best to google them on timing/phasing.  The biggest thing is you have to use realized capital gains to buy the investment property; payment on these gains is deferred.

I have a duplex with the same -- one furnace.  I just bill each unit for 50% of the gas bill, which is in my name.  Of course this is laid out in the lease.

In many states it's two people per bedroom plus one person.  So 1BR=3 people

@Stephen Allen curious how did you/they lose your money?  Is it a security deposit issue?  I'm worried I won't get those back.  I do think there was some shoddy accounting when things were transferred over, could never quite reconcile.

Autumn has been unimpressive to say the least, about the same as ProWay I would say.  I'm lucky that I have a great PM who works really hard, but she's overloaded and so doesn't have time to do a great job.  I've had to take repairs and other issues on myself, and I think they've lost me some money in mismanaging issues (eg cut off from section 8 payments for a violation notice that they 'saw too late'.)

I would never want to be a PM in that market!  Glad to say I'm closing on the sale of one duplex and so just one to go... can't wait to be out of Detroit.  Anybody want to buy a good duplex in East English Village?? :)

I wouldn't do it.

1.  You have to stay at your job for 5 years??  Risky.  I wouldn't want to be locked in (and what if you get laid off?)

2.  From personal experience, you cannot guarantee the timeline (or return projections) of syndications.... things change all the time.

I would just have him make payments directly to the bank then, and skip apartments.com....