All Forum Posts by: Phillip Syrios

putting $85,000 into seems like a huge project, it would be hard for me to justify that tyoe of money into a building like this but I don't know all the details obviously.

@Account ClosedLol

 My question is why would someone take a toilet when they leave?

 Yup :)

Not a perfect quote from the movie, but a clean version of it.

For me it was stealing a toilet. They left most of their belongings in the apartment unit, but the toilet was missing when I did my inspection. I honestly have no idea why someone would take only a toilet from an apartment unit and nothing else.

Anyways what is the craziest thing you saw or ran into upon a move out. Pictures encouraged :)

Here is the picture I took for proof.

Its not too much different than being a real estate agent to be honest, your just dealing with off the market properties and don't make a commission but instead make a margin on how attractive the deal is to the end buyer.

Really what you are doing is providing a service to people who need to sell their house quickly (or are simply very motivated to sell for some reason) and connecting them to buyers who are looking for undervalued houses and can close on these properties when the seller needs them to.

I've never done this before, but don't see it as very necessary. I have two fourplexes that have a very small common area. I have never had problems with old tenants even though I haven't always gotten keys back to the common area.I don't change the locks if I don't get the keys back as each resident has a locked door to their apartment as well so they should still be safe and there is no reason for someone to come back and break into a useless common area so its not really a concern of mine and I don't see much of a benefit of spending extra money to keep them out.

If I ever had reason to believe the person would be back or be a safety concern to the other people living there I would probably change out the common area lock but that would happen so rarely I wouldn't even think of it as an expense.

With my residential rentals I always charge more for a month to month lease. I don't see any reason why you shouldn't do the same in this situation. This is extremely common in commercial, the longer the lease the lower the payment usually.

We charge $250 non-refundable deposit total, and $25/month per pet up to 3 pets.

Most pet owners are great, but we do this because some pets will destroy the property and because of this we need to good pet owners to pay for the bad ones. This way we can have a much larger rental pool.

We use Rent Manager, its not the cheapest ($75/month per user and a little more to set up) but it has a lot of functionality and I love a lot of what it does for us. We manage about 200 units currently but we have used it ever since we had 40.