All Forum Posts by: Peter Tverdov

If you have an active root...over time it will grow back in there unless you excavate, cut and remove. 

All of our PM staff gets a small bonus for every lease that is fully renewed 30 days prior to the deadline. They also get a small bonus on every review they generate. We pay our remote team members an end of year bonus regardless. 

Sadly, many people treat them like a commodity. We have a property management company in New Jersey where we make some of our best clients hundreds of thousands of dollars between helping them force appreciation, increase cash flow, finding them deals etc. I think our best client in the last 4 years we probably made them $750,000.

Then I get the call from the one property owner trying to nickel and dime me that we will charge $190 for his townhome and he can get someone else to do it for $125. Okay pal, go with them I am sure it will work out the same (sarcasm) (hangs up phone).

Like anything in life, you get what you pay for. 

Insurance was really created for catastrophic events (fire, flood, etc) not for small claims. You need reserves and that can pay for it. It sucks but that's what is required when you own property. Deeper pockets...maybe I should create that website name haha. 

Zillow and realtor.com leads just did not work for me. They sucked frankly and it conditions the agent to act like a monkey for people instead of acting like a confident realtor who knows their value. Think about it. Zillow rings, you need to drop everything, oh sure sure I can show you the house tonight at 5pm. You have no leverage, no rapport and then they look at the house and never call you again. Stupid.

I know it works for some teams but not me. 

Cold calling absolutely works. I closed 3 deals this year off cold calls. Did one right in front of a new agent to "live train"

Email newsletters I am not a fan of. I don't like all the email junk BUT I do get it because it keeps your name in front of them.

That looks like something from chat GPT to bh

Anyway, I have a hard time explaining to people time value but if you value your time and hire a good property manager it's a no brainer. We make some of our clients 6 figures in equity through forced appreciation and helping them reposition their portfolios. 

Then I get the prospective clients making 6 figures on their regular job but they're still swapping out doors on kitchen cabinets or fixing toilet guts in the evenings and can't see the forest through the trees yet. 

 We use Appfolio and we still have to manually send out the reports to owners each month. Kind of annoying tbh. 

We always handle the filters. Tenants won't change them and it will shorten the life expectancy of the unit. Fridge filter they can handle that. Lightbulbs, batteries in smoke detectors is on them and written in the lease.

You can really do whatever you want if it is written in the lease contract but bear in mind they don't own the home and won't care on certain things.

As usual I think BP folks are being too harsh on PMs. Your turn time depends on many factors and you have to understand every owner is different which makes it challenging (some want a new bathroom, some only want reglaze of the tub, some cry about painting a unit that hasn't been painted in 8 years others want it all painted etc). If you just need a quick turn, yes a week it should be done most of the time, 10 days at most.

If they told you 3-4k and it ended up being 6k yes you can be mad...but did you ask why before running the forum pissed? Its not your problem but sometimes they're turning multiple at once, they want to get your place up and rent ready and 1-2 extra repairs were required, not communicated...it happens. Yes it's your money but they're not your puppet. They are doing a dirty job that has a high burnout rate with staff because they get dumped on by tenants all day and then IF they do something wrong with your unit after doing everything right for months you now dump on them, keep that all in mind.