Are you giving away your rental?

Live with Zelda

Episode 1 of Live with Zelda features guests from Rental Guys Property Management Elliott Greenberg and Brian Alterman co brokers of the company.

INTRO :1 MIN

Family owned business dynamics how this works well? Communication is what the team says is the key. Each working in separate departments or parts of the industry i.e. maintenance, listings, tenants, etc. We need to affectively communicate in order to understand problem or issue a tenant or an owner may have.

QUESTION #1

How is the rental market here in Florida / Nationally? Comparable to sales? Broker Brian educations about tenants safety and most concerning when searching for a home. Helping position owners and tenants as the experts.

QUESTION #2

How to have your application stand out amongst the masses?

Thinking about two rents if there’s a gap or overlap in moving from one house to the next. Helping have your income and documents for applying is a huge advantage in becoming an accepted app.

QUESTION #3

When should I apply? How is Rental Guys processing and submitting applications? Tenant tip have all financials, employment verification, be prepared as best as possible to have your burden of proof.

QUESTION #4

How accurate is an ARV or automated Zillow Zestimate?

Elliott examples how inaccurate the metrics and Zestimates are to help educate the owners/ sellers/ costumers in todays market’s. With use of professional photos

QUESTIONS #5

What happens when you rent with roommates or partners and tenant(s) do not get along? Lease impact?

Everyone is on the hook and responsible. Just like a family.

QUESTION # 6

HOA finds/ violations but what happens if issues with Home Owners Associations?

Check on property. Tenants are first given opportunity to cure within 7 days. If still an issue after time to cure, then could be tenants costs too. We relie heavily on the lease which specify who is responsible and who will be paying the bill.

QUESTION #7

Scams, are they prevalent and what kinds are out there?

Definitely because of the digital age. If you hear about money being turned in before viewing a house. #REDFLAG stop. Research the company or self landlord. Do they have website social media professional emails, reviews, etc. Check county record to see whom owns the house. Check deed if necessary based on New Construction or recent closing. County records can be delayed in updating the informations online.

QUESTION #8

What does a property manager / company do?

Protections and less liability. We are your communication between landlord and tenant(s). By separating this relationship you avoid hearsay or unnecessary repairs. Have everything in writing to avoid issues in the future. Communicate what the owners goals and expectations are to the customer and potential tenant(s). Do you want to be on call everyday including holidays. #NOCLOCKS

QUESTIONS #9

What is the screening process for a tenant applicant?

EVICTIONS are a no no. Check rental history, employment verification, and FICO credit score, income. Don’t have issues paying rent or mortgage. Always a must to pay. When interviewing a property management company make sure you ask what is your current eviction rate or percentage of tenants paying late on rent. 0 for rental guys. We don’t take necessarily the first applications because we are looking at and heavily vetting the future renter. Caution if company provides a guarantee when placing a potential tenant.

QUESTIONS #10

What is the biggest issue the investor has? Biggest concern?

Placing a tenant. Unrealistic expectations. Values of what rental is worth. My home is better and I need more money because of mortgage cash flow or other go