All Forum Posts by: Brad Larsen

Quote from @Jay Y.:

Quote from @Michael Smythe:

@Jay Y. the pages you uploaded refer to a Schedule A, which appears to be where the fees are listed. Please share...

I did a Control F and searched for the word "schedule", nothing came up...  But here's their price list, no mention that they can withhold 100% of the late fees...

Hello,

It is pretty standard for full service PM Companies to retain 100% late fees.  After all, there is staff being paid to send the paperwork and notices required to take actions for collections, phone calls, listening to the various excuses and promises that aren't often met, then going through the process all over again.  It takes time and for most Management companies, this is why they collect late fees.  They are doing the work for you, to get you (hopefully) paid.  

 Best,

Brad

 Try reaching out to LoneStar RE and property Management, they service that area specifically.  Great folks!

Brad

Sounds like a Realtor trying to act as a Property Manager "winging it"    This is a huge risk for both parties.

Hire a professional PM Company to care for your asset and YES! get a PMA. 

Best of Luck,

Brad

 Collin,

Our team can share with you what services we offer for PM Services.  The best you can do in deciding who you may want to hire would be getting a copy of the management agreement to fully understand what services are offered and to set proper expectations.  Feel free to shoot me your contact  info and we can start with an initial convo.

Best,

@Logan M.

Hi Logan,

Another resource that is FREE is joining the Property Management Mastermind group (Facebook) There's about 12k people in this group and can be helpful. Also, have you considered hiring a virtual assistant? There are VA companies out there that have members strictly focused on property management.

All the best,

Brad

 Hi Paige,

I sent you a PM.

Best,

Brad

 Hi Patrick,

Tried to PM you but was unable to.  Try reaching out to Larry Friedman   or 214-882-1500972-788-1400   (Lisa Richardson referred me to him and has used him for years). If he is unable, his team can certainly put you in touch with someone.

Best,

Brad

 Hi Sami,

I've heard of people using dotloop for free, but you are limited on how many you can do per year if you choose the free package.  I googled it and this is what came back:

Can you use dotloop for free?" Certainly! With dotloop, you can create up to 10 free real estate transactions and access all the essential tools to deliver a superior client experience: Access MLS and Association forms.

I suppose it could also apply to landlords?  I'd recommend looking into this resource a bit more depending on how many transactions you think you would do.  Hope this helps.

Brad

 For sure, I'll have my team reach out. 

Thanks

Brad

 I would say around 10% is pretty standard, but I think you are missing the big picture here!  There are so many more ways to make more income outside of the above mentioned. Here are a few that are industry standard:

Application fees (where states allow to charge a premium)

Lease prep fee (tenant)

If owner wants more than 1 annual inspection per year, charge a fee

Late fees (tenant)

Pet fees (They have no issues paying for thier babies) 

Maintenance fees....the list goes on and on

There's a guy based out of GA that will coach you.  You can check him out here  https://www.propertymanagerassist.com/

Give yourself a raise!  Problem is, people learn these new ways to make more money, but they are afraid of implementing. 

Best,

Brad