Bad Property Management Drives Away Tenants [US/MA] Real Estate |
- Bad Property Management Drives Away Tenants [US/MA]
- Lost out on an offer for our first home.
- Renovated Smokers house still has an odor.
- Infrared thermography
- Tenant behind 3 going on 4 months rent
- Garage ADU conversion cost in Los Angeles.
- MLS listing pulls from county tax records, which suggest I have about 30% more square footage than I really do.
- When should I receive my earnest money deposit refund?
- Realtor Issues?
- Question about a scam - Voicemail stating they drove by and will give an all cash offer as-is.
- How big is too big?
- Buy or move in with parents?
- Buy or Rent? Need Advice.
- 2 (unique) questions for selling during these “unprecedented times”
- Maintenance software
- How to approach a flipped house not for sale yet
- HOA Will Not Enforce Rules - Realistically What to do?
- Changing downpayment
- Prepping for sale-where to upgrade?
- Valuing a Spec Home
- Buying agent just quit
- Books for real estate?
- Oakwood Homes.. does anyone have any experience building with this company?
- Am I wrong? Real estate commissions are at such a high magnitude, with respect to the money in any typical move, that they have a duplicative, and material, financial impact on the participants. Commissions have twice the financial hit for every dollar earned by agents.
- Is this weird or normal?
| Bad Property Management Drives Away Tenants [US/MA] Posted: 26 May 2020 05:45 PM PDT I'm a tenant who someday aspires to be a landlord, but I wanted to write a quick rant reminding landlords that poor property management will drive away tenants. For nearly the past four years, I've been renting an apartment in a nice suburb of Boston. The location, price point, and amenities were exactly what I was looking for. Everything was great until 6 months ago when the building was sold to new owners and a new third-party property manager. I used to like where I live, but I've grown to hate it because of the new property management I don't think I'm a terrible tenant. Even throughout COVID, my rent checks went out on-time and in full. I take care of small fixes instead of asking the property manager to fix it. But I just signed a lease on a new place and I'm so excited to get away from this awful management company. I wish I still liked the place I currently live. Since the new management company has taken over, the following things have happened:
My bottom line is this: it's fine if you want to be a slumlord; but if you rely on a third party management company, make sure that they unwittingly aren't turning you into one. [link] [comments]  |
| Lost out on an offer for our first home. Posted: 26 May 2020 02:30 PM PDT I was so excited for this house. We offered 13k over asking in order to be competitive but they still went with someone else. I am going through an emotional Rollercoaster right now. How did you guys get over s situation like this? Why do I feel so heart broken? Ugh. This sucks big time. [link] [comments]  |
| Renovated Smokers house still has an odor. Posted: 26 May 2020 06:45 AM PDT Currently in the market for my first home, I've got my eyes on a house that seems perfect except for the fact that the previous owners were inside smokers. Now, the listing says new hardwood floor and carpet, new renovated kitchen (new cabinets and everything), all bathrooms renovated, new hot water heater, new electrical and walls painted (HVAC is still original) this all seems to be done post move from the smokers. When my realtor and I went to go view the property we were hit by the stale smoker smell as soon as we walked in. They obviously put time and money into it but the smell is still there. We noticed the ceiling had that yellow tint as well so they obviously didn't paint that portion. Here's a picture from the listing, you can see the yellow tint on the ceiling My question is, if we/or ask the seller to go back and clean/paint the ceilings, clean ductwork and possible replace HVAC, throw in a Ozone filter machine should that get rid of the smoke smell? Or would the recently new carpet and all the walls have to be replaced again even if all those renovations happened after the smoker moved out? [link] [comments]  |
| Posted: 27 May 2020 03:42 AM PDT Curious what your experiences have been with home inspections and if any of you have had infrared thermography done. Was it useful? I certainly understand the physics behind the technology and where the shortcomings would be to some of the more fantastical claims.. though it would seem a useful tool for energy audits and potential air/ heat leaks, active moisture and wet mold vs dry sporulating mold. Anyway just curious to hear your thoughts! [link] [comments]  |
| Tenant behind 3 going on 4 months rent Posted: 27 May 2020 03:24 AM PDT I have a home in LA that I'm renting and the tenant has been behind going on 4 months. I know with all the covid19 going on that there is a protection in place. But, I don't want to evict them. I'm hoping they could pay a portion of it or set up a pay back plan but from the conversations I've had with them, no. You can't evict till July 25th then you have to give them the 30 day notice which gives them till August 24th. I'll be out all that money plus court fees. Sorry for the rant, advice? Tips? Thanks [link] [comments]  |
| Garage ADU conversion cost in Los Angeles. Posted: 26 May 2020 09:36 PM PDT Has anyone converted a detached 20x20 garage into an ADU? What was the cost and how was the experience? [link] [comments]  |
| Posted: 27 May 2020 04:35 AM PDT My realtor doesn't seem to feel its a problem. Should I leave it be or have it fixed? It says I have about 4500 square feet when in reality I think I'm closer to 3400. [link] [comments]  |
| When should I receive my earnest money deposit refund? Posted: 27 May 2020 04:15 AM PDT My agent asked for my bank info on Friday so the office can wire back the funds. It's Wednesday and there's nothing, shouldn't this be processed immediately? I called their office, no one answered, I emailed them through their "contact us", nothing. I found the Brokers email and phone number on Google, should I try reaching the Broker? My mom says it could take a month but this is a wire transfer we are talking about. [link] [comments]  |
| Posted: 27 May 2020 03:46 AM PDT Has anyone had major realtor issues? My relator is not great by any means. We only listed our house a week ago, and we've had several issues already. She has very low quality pictures of our house on our listing (which is actually a beautiful house), I had to take pictures myself and send them to her to upload to Zillow, Realtor, etc. My pictures turned out 10x better than the ones she took, and she only used 4 of mine. We keep having people schedule showings and then cancel last minute (which I know isn't her fault, but it makes me wonder if she advertised it a little better if that wouldn't happen as much, three times in the past week which was half of our showings so far). She mixes up days. She told me I was supposed to have a showing at 11:30am Tuesday, and 6:00pm Thursday this week. Well, the 11:30am Tuesday was canceled an hour before the showing, and the 6pm on Thursday was ACTUALLY on Tuesday night instead of Thursday. I have two dogs and two cats that I have been hauling over to my parents' house everytime we have a showing to make the house look a lot nicer, and they both were at my house the 6pm Tuesday showing BECAUSE SHE TOLD ME THE SHOWING WAS ON THURSDAY. I also didn't make my bed, vacuum my German Shepherd's hair off our rug in the living room, nor did I do the dishes because I work a 12 hour night shift job and went into work for 6pm, and I woke up late anyway because I was up early getting the house ready for the 11:30am showing that was cancelled an hour prior to, so I didn't get EVERYTHING cleaned at that time cuz I didn't think I had a showing til Thursday so I figured I'd just finish cleaning on Thursday. My house probably looked trashed instead of very nice and clean like it normally is for showings. Every day we have a showing, I get up halfway through my sleep to get the house nice and clean, haul my animals to my parents' house, and then wait for the showing to get done and haul them back home. (I'm honestly probably just going to leave my animals at my parent's house from now on after this last experience.) I'm just not impressed whatsoever with my relator. I'm especially mad about this last time because my animals were all home. Has anyone else had issues with their relator? I signed a contract with her, and I'm not able to get out of it until December, so I'm not sure what my options are. The only reason I went with her is because she's my best friend's grandma, but I will never ever work with her again. I'm literally in tears because of how frustrated I am from this. I can deal with the pictures not being very nice and some of the canceled showings, but I can't deal with the fact that my house probably looked like I didn't even TRY to fix it up for people to come see it, when that was not my intention whatsoever, and I would've actually cleaned it if I knew there was actually going to be a showing last night. [link] [comments]  |
| Question about a scam - Voicemail stating they drove by and will give an all cash offer as-is. Posted: 26 May 2020 01:47 PM PDT I have zero interest in selling, I am not entertaining this inquiry, but I'm just curious what the scammer gets out of it. Received a voicemail stating that this person was driving by my house and got my phone number off of the internet. They stated the above - they would buy it with an all cash offer, as-is, and would "probably" also cover closing costs. It didn't sound like a recording. Sounded like a younger guy - maybe 20's. Very polite sounding message. I assume there's a slim chance this could be a legitimate inquiry, but it's so out of left field, plus the part about getting my phone number off the internet seems a little strange. Any ideas? [link] [comments]  |
| Posted: 27 May 2020 03:35 AM PDT We are considering buying a house that's 3,700. We were looking for mid 2000s but in this market it's hard to find anything and this larger one works for our needs and is in our budget. We're married no kids (but hope to 1-2 years). My elderly mom will be moving in and she'll have occasional home health. Due to her moving in, we needed a house w first floor bath and bed which tend to be larger homes. We can afford this house. But is it too much? It has a pool as well. It's hard to find that happy middle ground for our needs and space but I'm worried we're going to regret owning such a large home. (We have to buy now. My mom needs to move in with us so economy or not, we need a home) [link] [comments]  |
| Posted: 26 May 2020 07:55 PM PDT Hi All, My wife (27) and I (29) currently rent in North NJ and have been looking for a place around 250k. We found one at that price (2bed 1bath) nicely updated but it also got 7 other offers over the weekend. We have until tomorrow to either put in our final bid or my parents just offered to let us live with them and save money for at least a year. Objectively is it just smarter to move back in and save money for a year or so to have cushion for finding a place? Right now if we bought we wouldn't have much in terms emergency fund after or anything for wanting to start a family Thoughts? [link] [comments]  |
| Posted: 26 May 2020 03:11 PM PDT I'm 38, married with a child. I live in Southern California.Income: 95k, take home 6.3k/month Savings: 32k I have about 5 years of payments of $500/month for student loans. After all normal expenses are paid, I have about $3,000 free per month for Home/Rent + Savings. I currently pay $1.6k/month in rent, but I need more space. I must live within 30 miles of Torrance, California. Northern OC is ok. THE QUESTION: Renting something for my family will cost me about $2.4k. Should I just bite the bullet and buy a townhouse? Edit: Townhomes would be ~500-550k. Would be willing to dump much of my savings into the down. Credit score is 805-811 Can anyone give me thoughts or questions on how to arrive at a good decision? I know I'd pay more with a mortgage, but there are upsides to building equity, eh? Thank you! [link] [comments]  |
| 2 (unique) questions for selling during these “unprecedented times” Posted: 26 May 2020 10:55 PM PDT Hi y'all! Quick background: I have a rental property in AR, and the tenants are moving out this month. We rent in a 2/2 in TX. We are expecting our 2nd child, so it's about time to upgrade to a new home. So naturally we are considering selling the rental to buy our new home. 1) my loan is eligible to take forbearance on from the CARES act. I know that I have to pay it back after the sale. but since this is a rental property, I will need to pay 30% capital gains tax. So I feel like I should take the forbearance to save 30% on any future mortgage payments. However, I've read that lenders aren't too keen on lending to people who are utilizing this benefit. What are your thoughts? 2) I've reached out to a realtor who does a flat listing fee ($500), but then only takes 2.5 commission on the sale. What are the community's thought on this? Thanks!!! [link] [comments]  |
| Posted: 26 May 2020 07:52 PM PDT Does anyone have software they like that can track maintenance requests and assets? Specifically, I'd like to track:
[link] [comments]  |
| How to approach a flipped house not for sale yet Posted: 26 May 2020 07:46 PM PDT My girlfriend and I have been trying to buy a home in our neighborhood (where we currently rent) for awhile now. We nearly got there a few months ago before COVID-19 hit, but the inspection turned up some scary stuff, so we bailed. The housing market here (within our budget) is really tight. Decent homes are usually bid up too high above our price range. Here's the potential edge that I might have -- I noticed a home down the block was sold about a month ago. Whenever I drive or bike or walk by, I noticed it is being renovated. I've only noticed contractors outside once, so far. Would it be weird to send them a letter expressing our interest? And what are key things we should write in it to get their attention? [link] [comments]  |
| HOA Will Not Enforce Rules - Realistically What to do? Posted: 26 May 2020 04:27 PM PDT I have an ongoing dispute with a neighbor who makes a lot of noise very late at night - what sounds like loud crashing of objects, enough to rattle windows and furniture/knock art off walls and of course wake us up. I have tried to address this with the neighbor, but it does not appear this can be resolved by sane normal conversations. They deny it is them, even though I have photographs/videos showing them doing the noisemaking activities. I have raised this issue with the HOA Board and was basically told that they cannot force anyone to do (or not do) anything, and that as owners it is on us to resolve it. So like most normal HOAs, there are "quiet hours" prohibiting loud noise in the late evening/night/early morning. I am surprised they won't do anything to enforce them. But I suspect that they will not enforce the rules against them either (1) because one of them is on the Board and/or (2) they don't take us seriously due to age or other demographic factors. Can I do anything to force the HOA to enforce the noise rules? Even if so, is this even worth it? Should I just sell? Our financial situation unexpectedly improved, so we could afford a much nicer and bigger home in a better location now/in the near future once covid is over anyways. Would you wait until capital gains tax no longer applies (2 years), or just get out and cut your losses? Bought about a year ago, and appreciation is about 100k so even long-term capital gains tax is no joke. I know that is a personal decision, but trying to get perspectives and make decisions based on reason rather than emotion. Thanks all. Edit to add "late at night" is midnight to 4am. [link] [comments]  |
| Posted: 26 May 2020 02:28 PM PDT Are you able to change your downpayment amount after conditional approval? The cash to close leaves a bit poorer then id like Lender: chase Location: NE Ohio Cleveland Thanks for the help! [link] [comments]  |
| Prepping for sale-where to upgrade? Posted: 26 May 2020 04:03 PM PDT I'm looking for some thoughts on where to invest roughly $10k before selling our home. Our timeframe for listing is 6-12 months. Our home was built in 1978 and is 1900 sqft. Located on .25 acres in a city of about 40k ppl. We are expecting to list around 265, with a minimum sale price of 250. We purchased the home 5 years ago in a fixer upper state, and over that time have made many updates to the mechanicals and cosmetics. I'm looking to put this last 10k into the home and hopefully no more. I'm looking at two options to spend the money Option 1: new roof. The current roof is on its last legs and will need replacement in 2-3 years. We have been quoted for around 10k. Option 2: interior upgrades. New carpet, our current carpets were old when we moved in and have delt with kids and dogs. New kitchen appliances and butcher block countertop. New master bathroom vanity. Thoughts? [link] [comments]  |
| Posted: 26 May 2020 04:02 PM PDT I found a very nice spec home from a builder with a great reputation. House is 1-2 months from finished and hasn't been posted on the market yet. I got a price from the builder's agent (seller's agent) that seems pretty reasonable, although none of the finishes have really gone in yet. I've never purchased a new home before and I am struggling to value it before putting in an offer. Is it normal to ask for a list of materials and labor est. before making an offer? Any advice? [link] [comments]  |
| Posted: 26 May 2020 01:01 PM PDT Is it normal to work with an agent for 2 months and then they just call and tell you basically you're on your own? My husband and I relocated to MS 2 months ago and are looking for a house. We had found one we liked and put in a bid about a week ago but it wasn't accepted. We had a few other properties in mind we wanted to look at and when I called our realtor today she just said her broker doesn't want her to give out codes to houses and since the properties are out of her direct area she wouldn't be able to meet us & we should just call the listing agents ourselves and the best of luck to us. So.... apparently we are just done working with her. I'm super confused and frustrated. Is this normal or did we do something wrong? [link] [comments]  |
| Posted: 26 May 2020 05:53 PM PDT Books for real estate? Hi all I am very new to real estate and would like to learn more. Any books y'all would recommend to a newbie? [link] [comments]  |
| Oakwood Homes.. does anyone have any experience building with this company? Posted: 26 May 2020 11:47 PM PDT I'm looking into building a home with Oakwood Homes. Downside is it's a single family home that has an HOA fee every month. I've read reviews of Oakwood homes and have seen some negatives reviews, and many positive reviews. If anyone has had any experience building with this builder let me know! THANKS! Any and all advice appreciated. [link] [comments]  |
| Posted: 26 May 2020 06:43 AM PDT Simply put, these fees are experienced at a high magnitude by both the seller, off the top of their equity, transferred into the sales price, and carried by the buyer's cost and mortgage. In contrast, the agent experiences them just once as income. Of the 4 commissions that are experienced by an individual changing houses, the only optional one is your selling agent's fee, by listing FSBO. Meanwhile, this is the only agent roll that provides me any real value. I'm essentially paying two buying agents, 3% of each of my transactions, but they provide minimal value. [link] [comments]  |
| Posted: 26 May 2020 11:13 PM PDT First time home seller here. We got an offer on our home today. It's a good start, even though we plan a small counter. However, I read through the offer completely this evening and I'm feeling a little uneasy. Are any of these things odd? The pre-qual letter is glowing (mentioned an approval amount 6x the price of our home and having worked with this client previously), but is from what looks like a very small mortgage broker. The buyers are putting down a greater than 20% down payment and not asking for closing costs, so that seems like a good sign. Is the pre-qual letter normal? The buyer is using a Redfin agent and the offer came on their letterhead, but does mention specific buyer names. I know people like to use them to save money, but is there anything I should know about this setup? This is the thing that truly bothered me—I'm not sure these people ever actually saw the home. We have had a lot of showings in the almost month we have been listed, so I assumed they just weren't ringing a bell. I went back and looked through the showing time app and their agent was not one of the agents who showed the house in the last month. It is possible they saw it back in March—we listed at the beginning of this COVID mess for a week, took it off, and re listed a month later. I don't have access to those few showings anymore, though. That or maybe another Redfin agent actually showed the home? I plan on talking this through with our agent tomorrow, but was curious about any opinions here. [link] [comments]  |
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