All Forum Posts by: Mary M.

@Matthew Irish-Jones haha I am sure there must be good PMs....  But in general I feel that I will do a better job as it is my money on the line.   Now, I know that I am unique and I enjoy managing my apartments and not everyone can do that,  or wants to do that,  and maybe some folks dont have the cash involved like I do....  but IMHO a $10-15/hr desk person will not have the vested interest that I do.    Admittedly I have only had experience with a small number of  PMs....  3 as an owner and then when I was renting.....  

@Tony Zhang  What is the application criteria?  Has your PM shared the stats on enquiries, showings and applications? 

IMO when you are not getting something rented it is lack of interest on the PMS part to do their job.  They tend to be terrible at leasing up.  I would due some digging:  look for your rental online as if you were a tenant...  can you find it? what happens if you (or a friend) inquire about the space>? how easy is it to get the needed info and get a showing? 

To me you should do a lot of sleuthing to find out what the issue is.  It *might* be price.  It also might be a lazy PM. 

Once you release the old tenant is off the hook and you should remove any amounts due for that time period. Its always better to work it out especially when you have mitigated your own damages.....  just give the person their money back and/or remove it from their portal. 

Depending on the size of the home and the size of the family, I would offer to put them up in a hotel  for the time the heat is off if you cant get the needed living spaces warm enough.   You can suggest they close off unneeded rooms and put towels under doors etc to keep cold air out.  

You should consider paying their electric bill for the time space heaters are needed if that is the route you go. Also I would deduct rent for the time they didnt have heat.  

If this is a one bedroom apartment this will be an easy fix. If this is a 4bedroom, 4 bath huge home it will be much more challenging.

Also agree call every HVAC company in your area. Someone will be able to fit you in sooner. 

@Scott M. I think the reason people mention Umbrella policies is folks are told LLCs protect them from being sued and losing their properties. An Umbrella policy will protect as well and for a single investor is going to be more cost friendly then multiple LLCs....  but each person should discuss with their Ins Brokers, CPAs and Attys. 

Have you talked to your insurance broker and your CPA about if you even need an LLC? They will mean you pay more for your tax returns business tax filings, etc etc. They also will not protect you incase you get sued. Better to just have an umbrella policy IMO.

I do want to add that how fast applications get processed has a lot to do with the locale they are being precessed in. it took over 4 months for me to get paid for the first go round but 2 weeks for the 2nd as my housing authority hired many more people etc. So I would just keep calling them weekly and ask for updates. its amazing how just a phone call can really push things along. 

@Cecilia Cave  the first thing you should do is start reading up on your local tenant /landlord law as it pertains to covid.,   Your state has covid rent funding https://erap.lacovidhousing.co... so look into this.  Where I am once a tenant has applied for funding they are protected from eviction.  See if you can call the housing authority and push the application along. 

also find your local rental owners association and join it asap   then take every class they have so you learn the rules of the game you are playing. 

Also call 211 and see if there are other rental assistance funding opportunities for your tenant. 

I want to add that it isnt the tenants fault that you dont want her to mail the rent....  so really the onus is on you to find a way that works. Also, just do a quick check to be sure there isnt a law that states how rent shall be paid....  (some places state tenants must have a non electronic manner of payment)

if she has a bank account pre dated checks are as good idea.....  or, you can change the date her rent is due so she pays it once a month (so you only have to drive over once), also there is a way tenants can pay their rent at 7/11 and you get the funds. I dont know how this works but maybe do a google search.   Or, does she live close to your bank? can she deposit the rent in your account? 

As for the other folks who are now in prison - just do a lease addendum where you remove them from the lease. You should be able to figure out a way to do this legally. its not the first time this scenario has happened I dont imagine.