All Forum Posts by: Craig Schneider

Rent Manager charges an $800 setup fee and $40 a line per month.  Seems Phone.com is the way to go for smaller management

Thank you for responding.   Does LCS have an app from which calls and be received and made?  

I use rent manager property management software.  We have properties, managers, workers, etc in multiple states.  Does anyone have experience with the Rent Manager Phone System?  I have used RingCentral in past but like the idea of the phone system being integrated with my property management system.  Thanks for your help.

Mark & Nathan.  Thank you for your feedback

I am in the process of adding 115 units of MH & RV's with another 300 pads this yr. I spoke with Rent Manager & Apfolio, both seem similar, RM seems cheaper.  I reached out to Buildium and Yardi, no one called me back.  Which one would you suggest?  Or are they all so similar it does not matter?

Hi Kevin.  Thanks for reaching out.  Over the years we had many issues finding reliable guys which lead us to having our own crew.  I will say get everything in writing, stick to a payment schedule and never give a contractor more then one job to start with.  Pm me if you have more specific questions

Cashflow is hard to come by in "A" areas compared to "C" areas.  I have rentals in Huntington and Amityville, which is the Town of Babylon.  I am doing better collecting rents in Amityville then Huntington.  Reach out to me if you would like to talk in more detail. 

Hey Andy,

I know the area, house, and town very well.  I use to have rentals in Nassau but only in Suffolk today due to the taxes, and eviction process.  There is no way the Town will allow you to make a two-family let alone a three family.  In certain parts of Long Island, they are trying to eliminate accessory apartments. We still renovated single-family homes in Nassau, architect plans, permits etc. $3k-$5k.  Town approvals use to take 2/3 months to review your plans, not sure what will happen now.  Make sure you add your borrowing costs, taxes, and insurance.  If you borrow $350k at 8% and it takes you a year to do a project, which it will, add $28k plus $10k on taxes and $2500 for insurance to your costs to your expenses.  Reach out to me anytime with your questions and I will try and help.

When you run your long term numbers make sure vacancy/bad tenant cost is higher since evictions are getting harder by the month.  Courts are backed up and the Sherriff typical only does 2 evictions a day.

Jorge.  Unfortunately,  we are entering an unknown.  Depending on your cost to hold the house it might be wise to take the profit and get ready for a new deal.  On my end, I have softly marketed my single-family rentals.  We have been successful in going to contract on 2 of the 6.   Good luck!!!