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All Forum Posts by: Will Fraser

Will Fraser has started 33 posts and replied 2893 times.

Post: Any recommendations for Accounting Software? Stessa upped their costs

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

Yes I would recommend the following:

Stessa.

$180 per year is pitance for the value of what you can and should use Stessa for, and it is a tool that we recommend to the owners we manage consistently!

Post: Water from one of the shower is warm in winters

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

Hmm . . . it is certainly possible for a hot water tank to heat the water to the set temperature unless it has failed.  If so, replace it.

Otherwise you might Invest in a water circulator.  They are fairly simple contraptions and they move hot water through the system constantly.

Alternatively, the issue might be with the mixer in your shower . . . if ice cold water is mixing with water from the heater in too great of an amount then the water will seem cold.  If this can't be adjusted adequately then a mixer or diverter replacement could solve that OR adjusting the temperature of your water heater.

Post: Tech Stack to Optimize PM Company

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

IMO your tech stack is one side of the double-helix of your company.  Your processes are the other side and companies that strive to build one side without the other having corresponding strength end up building something doomed to enslavement or failure (and I'd argue that the former is the latter)

Post: Recommendations for Property Management Software - 10-49 units

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322
Quote from @Drew Sygit:

@Will Fraser Buildium has almost zero customization and few reports.

That makes it more difficult to use in a team environment. 

Also, the more services you offer the harder it is to track everything.

The MOST important thing though is to learn ANY software properly & thoroughly or it will just be "junk"!


 Got it.  

Does Appfolio excellently address those pitfalls in your experience?

Post: Mynd property management

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

Are they only in Houston, or other markets, too?

Post: Recommendations for Property Management Software - 10-49 units

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322
Quote from @Drew Sygit:

@Ben Scott

We use Propertyware, have experience with Buildium and have played with Appfolio and RentManager.

Buildium is for smaller companies.

The other three are tied, the differences being how much automation & customization you want to do.

If you don't see yourself growing beyond 150 units, go with Buildium.

If you're not very techy and plan to grow over 150 units, we'd recommend Appfolio.

If you're techy and plan to grow over 150 units, we'd recommend Propertyware or RentManager.

Of course, schedule some demos, take GREAT notes and them make your decision.

FYI - there are MANY new options on the market, RentRedi, TenantCloud, Apartments.com, Rentec, most will not survive, so you would then have to switch:(


 I've heard a decent number of people say, as you have, that Buildium is for smaller companies . . . what about Buildium makes it not work at a larger scale?

Post: Earnest Deposit Help

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

Given the pace that banks tend to operate at in REO sales I would be surprised if they denied your request to postpone closing.

To satiate their hesitation you might consider an additional EM deposit that is non-refundable.

Post: Need to Evict Tenant

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322
Quote from @Prajita Niraula:

Thank you so much, @Will Fraser
I do have a written lease with this person. However, I did not do a background screening. I haven't yet sent an official notice. I have sent multiple emails as a notice to pay; however, I haven't sent an official eviction notice. Should that be my next step now? 

Also, I now recognize my mistake in not carrying out background screening. What software would you recommend for someone just renting out the extra rooms in the house? 


 Yes indeed, a formal notice to . . . quit, pay, vacate, etc . . . would be the next right step.

You could also see what other lease clauses apply to the situation.  For instance, if the tenant abandons property there are certain stipulations that come into play.  Conversely if the tenant stays over adversely after a lease ends, that is a different situation.  So, in light of your lease you may get clarity on the right direction to go.

Post: Seller Financing Available - Beautiful 4/2.5/2331sf Home in Oklahoma City

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

Hi @Jenat Higa, is this a Taber home, or if not who is the builder?

Is this a new construction home, or existing?

Post: Any recommendations for best affordable Insurance for Landlords (rental properties)

Will FraserPosted
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
  • Posts 3,019
  • Votes 2,322

Hi @Rolando DeLeon, this is a prudent question here!

I had a lot of luck with ASI ASI and Safeco early in my journey, and then I stumbled upon a different class of insurance companies that are more geared towards investment properties.

My policies are currently underwritten by SES and they have been great to work with and very geared towards the investor.

My insurance agent is a sage source of counsel on the subject and I bet he'd be a good resource for you if needed!