All Forum Posts by: Michael K.

Hello!

I'm going nuts trying to get pricing from Costar. They don't post it on their website and the people answering the phones can't give pricing without putting me through some sort of online tour beforehand (which I don't have time to take right now).

Is anybody familiar with Costar's pricing?

Thanks,

Mike

I've already encountered homes where the foreclosed soon-to-be-former owner plugs the pipes with cement and lets the water run as they leave.

The damage is horrendous to repair, and we're not even beginning to talk about mold remediation...

Mike

I'm advocating that the tenant be responsible for the first $50.00 worth of repairs.

Mike

I just had a move-out where the tenant scratched and dinged the hell out of the natural woodwork. The trim was beat, the cabinets were scratched and dinged, the doors (closet and regular) were beat and tired... The woodwork was a MESS and I saw a good 20-30 hours of sanding and staining in my future.

A family member recommended Old English Scratch Cover. It's carried at Ace Hardware in this area. A small bottle was six bucks. Well, what did I have to lose?

My God, it's nothing short of amazing! The scratches all but vanished, dents blended in and looked natural (these are older properties, so the "aged" look is very acceptable), and everything was renewed.

It was simple to use; wet down a rag THAT YOU DON'T CARE ABOUT ANY MORE, rub the scratch cover in the direction of the grain over/into the blemish, let it sit for 5-10 min, and wipe off the excess with a clean rag THAT YOU DON'T CARE ABOUT ANY MORE.

Did I mention that you shouldn't use a good rag?

Any how, I can easily say that this was the best six bucks I ever spent for a cleaning product. My experience is that one bottle will handle two 3BR apartments.

Mike

Big yard-size garbage bags and smaller supermarket bags. It seems like I'm constantly picking up trash around the properties!

Mike

I'm in the process of replacing all of the main door locks and the basement locks in a four-building apartment complex. Install one of those piston-type automatic door closers and get the self-locking locks as described above. DON'T do deadbolts; the tenants will just throw the bolt while the door is open so the door won't close properly. Deadbolts like this are nothing but automatic door props.

As for the coin laundry issue, be sure to check your state laws about card vs coin laundries. Believe it or not, some states (Wisconsin is one) have an additional tax on non-coin operated laundries!

Mike

I had one on my home in Arizona; it was built in 1999 and I bought it in 2004. The original builder got sued out of existence due to shoddy workmanship. For $450.00 plus a $100.00 deductible per item, I got a new water heater, a new central a/c unit, a new heat pump, some roof work, and one other item that I forget right now.

The $950.00 I spent between the plan and the deductibles MORE than covered the price of the replacement central air unit alone, not counting the other three items.

That said, I'd say that the warranty depends upon your situation. How old are the items that you're worried about? How likely is it that they'll need replacing during the terms of the warranty?

Mike

Thank you! Still returning to getting used to the market up here. It's definitely different than Arizona!

Mike

You're stricter than we are, but we've also got WAY more problems than you do! I guess it all comes down to how much BS you're willing to handle. In my cousins' case, they're willing to handle a LOT of BS.

Felons: No violent felonies within the last three years. Non-violent offenders can come right in, although we will check with their parole officer.

Sex offenders: No non-consentual sex offenders allowed.

Drugs: No manufacturing or distribution within the last three years unless on active parole with the recommendation of their parole officer.

Check forgers / bad check offenses: If less than 3 years old, ALL payments must be in cash or in the form of a POSTAL money order.

Evictions: Nothing current. (We get LOTS of applicants who are in the middle of getting evicted.) No more than one in the past two years.

Security deposits: 100% must be paid up-front unless they are actively working with a community organization that guarantees their deposit.

First month's rent: Due at move-in unless through rent assistance or through a community agency that covers the rent.

That's about all.

Mike

A friend of mine in Tennessee had some problem tenants. These tenants left four puit bulls in the basement without ANY food. Imagine returning to clean out your property a few days after and facing FOUR purposefully starved PIT BULLS.

While an extreme example, it is still an example.

Mike