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All Forum Posts by: Yiv L.

Yiv L. has started 5 posts and replied 111 times.

Post: Owner as "Property Manager" dilemma

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

ALL of my tenants know that I am the owner, and I manage the properties myself. However, not single tenant knows the address of my residence, if that's relevant to the discussion. I do not see any disadvantage to be known as the owner, especially if we take care of our tenants well and be respectful to them.

Post: Early Move Out

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

@Lance H, I would not touch the security deposit until she moves out, to ensure the place will still be in good shape the last month of her stay. You did not state it explicitly, but I assume you let her break the lease without any penalty. You have already helped her out in that aspect. So, keep the deposit alone.

Post: When is it cost effective to have a Property Manager?

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

I agree with Larry K. If you have time and ability to handle tenants, manage the properties yourself. No one, I mean no one, cares about your business and your properties as much as yourself. If you continue to lose sleep, then you should hire a property manager, but don't give up too easily. It will be a learning curve, and each tenant issue is different.

If you own multi-family units, you can also identify a reliable, handy tenant to be on-site (part time or full time depending on the # of units) manager and fix up simple things. It's a lot of value to have someone keep an eye on your properties 24/7.

Post: My First Deal 4 Plex in Phoenix

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

Congrats Tony G. $180K in PV sounds like an awesome deal. I do also see some good deals in Tucson area as well. Next step is learn to handle tenants and stick to the rules.

Originally posted by @Account Closed:
Be safe dont go hi-tech let the tenant pay by money order.

Joe Gore

Unless you want to stop by and collect rent every month, some tenants do not like mailing out the MO with the reason that it can get lost in the mail, which can be true.

I personally try not have to knock at the door every month for rent, part of the reason is personal safely.

Post: Eviction for Repairs

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

If they are on month-to-month, you can give him 30 or 60 days notice per local law. If they are still on contract, you can do cash for key. That would save you time and money. Make sure they understand your intention for not preferring them to live in a run-down place.

As everyone said, no need to waste money and time on eviction at this time. Since this is month-to-month, just give 30 days or 60 days notice per local law. If the tenant refuses to leave after the notice, then you need to start the eviction or call the cop, again depending on local law.

Post: Replace refrigerator icemaker?

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

I would buy a decent replacement fridge from craigslist for $325 instead. If this is a good tenant, $325 is small price to pay regardless what the lease says.

Post: Phone jack doesn't work - My responsibility?

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

Phone jack is for either dial up or DSL internet. Cable internet uses coaxial. Both DSL and Cable needs router to get wifi. DSL modem, not router, needs to be plugged into phone jack to get internet from ISP. Not sure if the tenant did actually plug router into the phone jack, or OP mis-used the terminology.

Post: tenant needs to break lease

Yiv L.Posted
  • Chandler, AZ
  • Posts 113
  • Votes 25

Looks like they are good tenants, willing to work things out with you (trying to find replacement tenant for you, willing to pay till you get new tenants ...). I would just return the remaining deposit to them after the clean-up and repairs, to show your appreciation.