|
|
FREQUENTLY ASKED QUESTIONS
IN NO PARTICULAR ORDER
|
WHAT ARE THESE OTHER INCOME
FIGURES ON MY STATEMENT, DOESN'T THE TENANT JUST PAY RENT?
- Usually these "other" income receipts are reimbursements
of one kind or another. Sometimes they are utility refunds after
a tenant has taken over or possibly it is a payment from the
tenant reimbursing the owner for utilities, such as trash or
electricity, that the owner paid on the tenants behalf while
the tenant was getting the utilities transferred over. See Example.
|
YOU GUYS ARE GREAT...
I'VE GOT RENTALS IN CLAIFORNIA AS WELL, CAN YOU HANDLE THEM?
- Unfortunately not. We are not licensed in any state other
than Nevada.
|
WHY DID YOU CHANGE PROPERTY
MANAGERS ON ME? - We adjust or spread out the
work load in an attempt to give a high level of service to everyone.
As we continue to grow, at times we will add an additional manager
and then adjust all of our current accounts to provide better
service for everyone.
|
MY ASSOCIATION DUES JUST WENT
UP, CAN I INCREASE THE TENANTS RENT TO COVER THIS?
- Maybe. It depends pretty much on whether there is a Month-To-Month
Lease Agreement in place. If there is, then we can issue a 45
day notice to increase rent. Otherwise, if there is a long term
lease in place you would have to wait for that to finish before
increasing the rent.
|
WE'RE MOVING OUT OF THE COUNTRY,
CAN YOU PUT MY FUNDS DIRECTLY INTO MY BANK ACCOUNT?
- As a general rule we will hand carry deposits to either Wells
Fargo or Bank Of America. We will mail deposits to any other
banking institution. We will need a copy of one of your deposit
slips.
|
THE BIDS YOU GOT ARE TO HIGH,
CAN'T I JUST HAVE MY FRIEND OR THE TENANTS DO THE WORK IF THEY
WANT? - You can have anyone you choose do the
work you want on your property. However, if they are not insured
you always stand the chance that they could get injured and
then they will end up owning your building. We have found that
about 95% of the time, using friends or anyone else that is
not in the construction/repair business, full-time, is a huge
mistake. The work is almost always lacking and rarely is it
completed in a timely manner. If you insist on using someone
like this, you will be the one ordering the work, inspecting
the work, and paying for the work. We will not get involved
since we will want to keep an arms length distance from the
transaction just in case there is a problem.
We had a situation once where the owner insisted on using the
tenant to replace the landing on the second story of a four
plex. We warned him of the huge liability he was putting himself
in. Sure enough, the tenant had a friend over to help him. The
friend ended up losing his footing and stepping between the
flooring joist, and then falling through a plate glass window.
He of course ended up in the hospital without insurance and
they expected the owner to step forward.
|
|
| |
|
