All Forum Posts by: Mike Hurney

@Nathan Gesner

Hey Nathan, I love the 3% annual increase. All too often, I miss an annual renewal (all our Leases are "Tenant @ Will" (month to month), then we have to renew at an inconvenient time i.e. Christmas, April 1st, after a Nor'easter, after something has been fixed, etc

Then it's an emotional thing e.g. "This son of a gun was late (by a day) every single month, let's jack it up!" or "They always send a card with the rent, let's only do 1%" ;-)

@Matthew McNeil

Hey Matthew, 2 things I always do, 1. Give increases 60 days in advance like @Fred Cannon which seems to be appreciated! 2. When someone gives me notice they're leaving, I go to the unit with them ASAP. First to see if I can do anything to keep them (which has NEVER worked;-) and Second to assess any damage or work needed: ("Look I do NOT want to keep any of your Security Deposit so YOU'VE got to get this work/damage fixed ASAP, here's some local Handy Men or I'll have to deduct $x!" works great!!!

@Peter McKernan

Hey Peter,

You ever think about hiring a Public Adjuster? May want to check into using one... We use Len Theran 

who is great, always enough to do ALL the work.

When you keep that much in reserves, would it make any sense to schedule upgrades on a regular basis then when you have  more than enough...another property?

Mike

Y

@Raymond Simms

Hey Ray, what's your goal for changing a Title?

Mike

@Heather De lap

I had a Tenant like you... So I asked the water department to check it weekly for several weeks - it was high. They gave me dye for the toilet tanks - weren't running. Had them take a picture of the meter before going to bed and first thing in the morning - same time stamped reading. Installed/Replaced all the faucet aerators - still high. Reinstalled new low flow shower heads. No affect... Changed the lease so that anything over $200/quarter (average for my single families) they had to pay for - Hasn't gone over $200/Q in 18 months;-)

*Is the Market steaming ahead? Bumps, Adjustments, Increasing Appreciation & Bid-Up competition? We'll see tonight and how to position yourself NOT to get in trouble, Remember Musical Chairs? Full analysis this evening also which niche and area is for YOU???

*Liann has been doing better than ever and why not, she's THE Short Term Rental expert and carefully expanding... She'll be giving us some inside tips:

See how Easy & Lucrative iTrip Short Term would be for you?

How to get the Best Deal when YOU rent Short Term!

Which Areas to avoid?

How to tell which "Landlords" will treat you right and what to Check?

What do you always have to do with any Rental or Hotel!!

*Filing an insurance Claim... How to get it Denied:-( What's the first thing you need to do when you're made aware of ANY Loss? LEN or PATRICE - 617-932-5192 [email protected]

*It'll be our Good Fortune to meet a new Special Guest this evening!

I look forward to see you on this Zoom Meeting, Mike Hurney, Director, MassRealEstate.net & NewHampshireREIA.org, PO Box 307, Marblehead, MA 01945-0307

Mike Hurney is inviting you to a scheduled Zoom meeting.

Topic: Market Update, Short Term Rental, Fling an Insurance Claim & maybe Special New Guest

Time: Friday, Feb 5, 2021 06:30 PM Eastern Time (US and Canada)

Join Zoom Meeting

https://us02web.zoom.us/j/89652655147?pwd=aE13Qis4SU9USEZhUC8yVExQa1VhUT09

Meeting ID: 896 5265 5147

Passcode: 029363

Of course you know we're just North of Boston, Massachusetts and a little South of New Hampshire.

@Joe Splitrock Hey Joe, Sorry to waste my time (& experience with Tenants). Mike

@Jessica Stevenson

Are you busier in NH or MA? Mike

@Maria Guevara Good luck with this:-0

What do the Comps say you need to do? vs Your Budget?

@Tyler D. "...have dedicated a massive amount of time to learning and searching for properties." based on your questions I'm not sure whether you've got it already figured out or want someone else to do it all for you?

I believe that, like with an iceberg, for every hour you learn, you should spend 9 in the field. This business takes a lot of time and energy to set up then you can back off a little.

You may want to check out Malcolm Gladwell's "Outliers" How the Hugely Successful people we hear about, practically fell into their success without any effort;-)