All Forum Posts by: Patrick M.

@Sara Peak There is NO tenant fee or Landlord fee at Cozy (excluding if you want a rapid transfer, but that is on the LL)

I think ERP gained a lot of credibility from forums like this. We naturally rely on the advice of others- especially as it comes to this particular forum on this site- because we know we are all similarly situated in atleast one way- we are landlords. No one can be faulted because they were doing there job until they weren't.

Our colleagues have unfortunately paid a price for a lesson we can all learn from. I was happy to see Cozy come right out and try and set nerves at ease. I am hopeful that they will come out with a more detailed explanation for us all to understand the inner workings of the transfers. Stripe seems like a much more accepted and legit transfer platform.

another happy Cozy user

https://cozy.co/blog/how-payments-work-at-cozy

@John Warren well put.

@Joe Villeneuve I have removed 5 tenants. I have completely emptied one building which is over 150 year old and was full of no goods. We have renovated that building and will/ have repositioned it. 

I have had the benefit of doing this all within family and working with 3 generations. From designing the apartments to building them and sharing it with the kids.

We are going to Europe in 2 weeks. The tenants have my cell if needed. We are living in 2017.

If I owned properties thousands of miles away I of course would pay a property manager. But I do not.

Why would I pay a property manager $4k a phone call.

Again- I find it very fun and but for repositioning it is really smooth as butter.

"Landlording" is a fun and informative book to read and to reference.

"The Property Management Toolkit" is a book I really enjoy.

I would lose at least $16k a year just by taking on a property management company. And that is before they start charging me for "work" and putting in their tenants.

I really love it. And the most time I put in is just repositioning the properties, it all falls into place once you get the hang of it. 

On 9 units I got 4 phone calls this year. I am going to pay someone $16k to answer 4 phone calls???

I placed 3 great tenants this year that I vetted. It really was not at all difficult...I'm going to pay someone $4900 (1 months rent for 3) for their tenants?

So I would be out $21k and I haven't even gotten into the incidentals they will charge.

We really enjoy it. It is another aspect of family time for us. Much is play and some is work, I am hopeful my boys will have a great working knowledge so if they want to take it over they can. Regardless I think it gives them knowledge of a business and I am ever pushing them to develop a work ethic ;) They are 10 and 7 so they have time.

You need to serve a notice to Quit. Prepared correctly it should advise the tenant of the legal ramifications of an eviction action as well as fees. My notices to cease and quit are very fact heavy- in essence an affidavit. I want the tenant confronted with all of the steps and aggravating facts that will be detailed to the court. And I of course will attach them to an eviction notice.

Get a new lawyer

Move forward to evict.

Your good tenant who is complying with her lease is complaining about a bad tenant that is not complying and you are doing nothing about it. Really? 

If that isn't going to get you off your tuckas then maybe this will- Your good tenant is complaining about her children being poisoned by an unsafe condition that she has made you aware of and that you refuse to do anything about... You think you have a nine month timer on that? good luck- she is going to tell this to the wrong person and you'll be dealing with a bigger headache.

Move to evict. You have a motivated witness and even if you lose you will win.

I couldn't agree more @Mike Dymski. Mark me down as having far too much fun managing and repositioning.

@Lana Lee I do not welcome realtors, I have had one involved in a potential rental. They contacted me, wanted to send a tenants over and said she understood that I may not give her commission. They came and looked at the place with the other interested tenants. I liked them a lot!

I rented it to another couple because they immediately jumped through all the hoops and loved the place.

I came to find out the other couple loved it too but their realtor did not get back to me until two days later. Either playing some sophomoric game of "make him wait" or just far far too busy to pick-up a phone. Either way I found having a 3rd party involved to be very inconvenient.

I use a free service that lists my rentals on realtor.com. If you are looking for an agent assist I would do that or put in your Zillow-craigslist-etc. listing that you welcome realtors. They will come calling, trust me.

1 months rent is to big for me to give away in this rental market, potential tenants are everywhere.