Yes, time flies. Didn’t realize that a month has passed since I got all the keys of my building back, and now I have full control of the management.
Few things that encouraging me are the following:
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I don't need to wait 20 some days that lately was dragging to the end of the month before I could collect the rent money from the PM,
As soon as the tenants pay the rent, I could deposit them and pay the loan (mortgage),
I know exactly what the expenses are, and I have full control over it,
I have gone thru one eviction, and now I'm in the process to sign up with mrlandlord.com to use their tenant tracking as well as their reporting to credit reporting agencies' services,
I found that although sometime it was time consuming but it was not as scary as what I had in mind that had prevented me over 8 years to manage it myself,
However, I would like to hire a realtor to do the tenant screening for me since I don't have my own office. This realtor is the wife of the general contractor that had helped me a lot with the repairment when I bought this building. He even came to install the pad lock the night of the incident where the police came to handcuff one of my tenants. This couple own a carpet store, and have 10 rental homes around here. I can send the applicant to their store to fill out the application, let them collect the application fee, use their copying machine and printer, and let them be the one that reject or approve the applicant after we get the credit/criminal/financial reports checked.
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That is what I have in mind. Just wonder what is fair to pay for this tenant screening service?
