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43
Eman
@
2022 Apr 8, 5:29pm
Eman
@
2022 Apr 8, 5:29pm
B.A.C.A.H. says
This is why you want to be an investor, not a landlord. Hire a professional property management company to manage the rental for you. If they screw up with the screening, In this case, fake W2 and fraud credit report. The property management company would have caught them. Also, they do previous landlord verification too. If they screwed up with the screening, their insurance company would pay for their negligence. Highly unlikely that the PM company will screw up.
As I mentioned previously, our PM company manages almost 100 units for us. NOT 1 eviction in all these years. Not 1 eviction through the pandemic. A couple of tenants fell behind in rent briefly during SIP, but they all caught up shortly after. Don’t be penny wise pound foolish. Let the professional do their job.
Bless their Poor Pitiful Hearts.
https://www.msn.com/en-us/news/us/fremont-landlord-says-tenant-who-owes-101k-is-using-covid-laws-to-avoid-eviction/ar-AAVZrGb?ocid=msedgntp&cvid=eee6c8a15c4f40e298ca49fc858d5c04&source=patrick.net
This is why you want to be an investor, not a landlord. Hire a professional property management company to manage the rental for you. If they screw up with the screening, In this case, fake W2 and fraud credit report. The property management company would have caught them. Also, they do previous landlord verification too. If they screwed up with the screening, their insurance company would pay for their negligence. Highly unlikely that the PM company will screw up.
As I mentioned previously, our PM company manages almost 100 units for us. NOT 1 eviction in all these years. Not 1 eviction through the pandemic. A couple of tenants fell behind in rent briefly during SIP, but they all caught up shortly after. Don’t be penny wise pound foolish. Let the professional do their job.
44
HeadSet
@
2022 Apr 8, 7:19pm
HeadSet
@
2022 Apr 8, 7:19pm
Eman says
You are very fortunate to have found a decent PM company. My experience (along with a few others who hired PMs) is PMs are high priced and use your maintenance funds as a piggy bank for their contractor buddies. Stuff like spending $200 to reset a flapper valve in a toilet, or putting on a new roof without doing a tear-off of the old shingles but billing for a tear-off anyway.
As I mentioned previously, our PM company manages almost 100 units for us.
You are very fortunate to have found a decent PM company. My experience (along with a few others who hired PMs) is PMs are high priced and use your maintenance funds as a piggy bank for their contractor buddies. Stuff like spending $200 to reset a flapper valve in a toilet, or putting on a new roof without doing a tear-off of the old shingles but billing for a tear-off anyway.
45
Tenpoundbass
@
2022 Apr 8, 8:19pm
Tenpoundbass
@
2022 Apr 8, 8:19pm
Sell it and strategize where you think the mass exodus influx will land those fleeing over crowded Cities that lack the inventory. And try to position yourself to have land for the inevitable building boom in this country We're way past due for a building boom, and new cities and towns.
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i can afford either option. highly tempted to just sell and not have mortgage on new place.