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Residential Property Management/Questions Answered by Expert Stefani Nachatilo

SubjectDate Asked
condo6/12/2016
  Q: I live in Potomac Oaks Condos in Gaithersburg md with Debbie and Camila as office personnel. There ...
  A: Normally condos have some kind of operating board of directors. Document the mismanagement and ...
Lease6/16/2014
  Q: Good day With reference to the rental of a townhome that I rented through a realtor last year and ...
  A: You can definitely use the old lease. You can copy and write in the changes or retype the entire ...
Lease Question6/6/2014
  Q: With reference to a Florida condo rental, as the landlord I have the following questions: 1. My ...
  A: you will have to look at your contract with the realtor. There may be a clause in there that if you ...
Escrow deposits4/16/2014
  Q: When tenants escrow deposits are held in a separate account just for deposits and part of the ...
  A: Any forfeited deposits are definitely income to the owner. If you are using qickbooks, you can ...
Beginner question11/30/2013
  Q: I live in PA and want to work towards a real estate broker license; are there any accredited online ...
  A: In Oklahoma where I live, we have a school that has all kinds of ways to get a license. You can ...
3-day notice8/9/2013
  Q: Is there a form available for giving a tenant, delinquent on rent, a 3-day Notice to Pay or Quit the ...
  A: I'm not sure where you are located and the laws in your state might be different than mine. I would ...
Property Management4/1/2013
  Q: I have managed my rental home for a few years now and would like to start a property management ...
  A: but I'm in Oklahoma too. (Oklahoma city) Unfortunately, there is no legal way around the sponsorship ...
Questions.2/20/2013
  Q: Good day With reference to the renting out of a townhome for the first time I have the following ...
  A: 1 - when a tenant contracts for water or electricity the contract is between the provider of the ...
renting a home in arizona12/1/2012
  Q: My husband and I have decided to move by our children in Arizona due to the fact in 2010 my husband ...
  A: perhaps you have found a place by now but if not here are some of my suggestions . first do not let ...
help taking over property8/30/2012
  Q: I am moving down to Glendale to live with my girlfriend. she lost her home and no is moving into an ...
  A: the good news is that since your girlfriend is the property owner, you do not need a license to ...
better rental choice8/21/2012
  Q: My question is that my girlfriend, her best friend, and I are looking for apartments to move into. ...
  A: as a property manager, here are my concerns if I was looking at you three as applicants. 1) the ...
repair of condo building8/10/2012
  Q: I own a condo in a building that has 16 units. The building was built in 1979. The building need ...
  A: A condo is usually made up of owners because you each own the units individually. The "homeowners ...
Oklahoma license requirement7/7/2012
  Q: Hey Stefani, I am doing the preliminary research on opening a residential property management home ...
  A: Right now my husband is a licensed real estate broker as we have decided it just looks better and ...
Flats5/18/2012
  Q: Is living in a flat less costly than living in an apartment or house? Is it possible to own a flat? ...
  A: I'm sorry I will not be much help to you on this issue. As far as I know, we don't have flats here ...
Rental House Search?5/6/2012
  Q: How are you? I live in Waco, Texas, and currently, I am moving out of my house at the end of the ...
  A: Sounds like you've done a good job searching. Our first source is craigs list. Second would be ...
Management Plan4/18/2012
  Q: I own a small property management company in NYC and we have been asked client who is requesting a ...
  A: I sorry I cannot answer this question. We have been in business for over 16 years, and I've never ...
Managing own property vs property manager4/11/2012
  Q: I have 15+ residential rentals in Tulsa County. I lived there and managed myself. I moved to ...
  A: from the Oklahoma Real Estate Commission. ...
sec 84/7/2012
  Q: Dear Mike, I have 2 questions. The first is: I am a senior US citizen and I live in New York, NY ...
  A: I've been away from my email for the last week. I'm familiar with the section 8 program and imagine ...
Property Management1/30/2012
  Q: I'm thinking about purchasing a condominium and have a management company to look after it. My ...
  A: You would need to check and see if there is a home owner association for this community. If so, ...
Forming a tenant placement company in Pa8/24/2011
  Q: I will try and keep this a short and to the point as possible. I am a real estate investor in Pa, my ...
  A: I've been out of town. Since I'm not familiar with the laws of PA, I'll give you my general ...
Apartment Credit Checks8/10/2011
  Q: I will be purchasing a new car in about three weeks. Although I am able to pay cash for the car, I ...
  A: From the landlord's viewpoint, we expect tenants to have a car payment as well as a few credit card ...
Lease6/12/2011
  Q: I have tenant who has signed a year lease and has been leasing from me for the past 1 year and ...
  A: but here's my view. Since the original lease states in the lease that it converts to a month to ...
lease expiration, notification to vacate5/31/2011
  Q: If a tenant refuses to sign another year's lease preferring a month to month arrangement, how many ...
  A: I'm not an attorney so I can't say with certainly the laws in your state. Most generally speaking, ...
land trusts2/22/2011
  Q: I noticed you commented on land trust a while ago and would like your advice: If I already have a ...
  A: I have never worked with foundations and have no knowledge of their estate planning status or the ...
Lease12/4/2010
  Q: I know you probably don't specialize in these kinds of questions, but I have a problem. I have left ...
  A: this is not the answer you are probably hoping for. Yes, most likely. If you signed a lease, you ...
Stay at Model Apartment8/3/2010
  Q: I am trying to least an apartment at Michigan. The manager told me that I will be able to move in ...
  A: Not all apts have models that one can move into and delays are common when repairs need to be made. ...
Getting Started8/2/2010
  Q: My name is Rob Castor. I'm in my early 20s and looking to start my own Property Management company ...
  A: Why just be a property management company, why not be your own property investor/manager? I think ...
Buying a rental property with the remainder of my Home Equity Line7/28/2010
  Q: I have spent most of my home equity line repairing and improving my home. With the market the way it ...
  A: not knowing your age and risk tolerance and financial circumstances it would be difficult for me to ...
landlord's behavior7/24/2010
  Q: Can a landlord do this? I was sitting in my living room at my computer, working, in my nightgown. ...
  A: He must serve you proper notice. If he's just canceling the lease, he must give you a 30 day ...
Property Manager or self-Managed?6/9/2010
  Q: I have been researching market tendencies around having a property professionally managed versus ...
  A: The going rate for property management -- at least in our area, is 1/2 months' rent as a fee for ...
Roomate rental etc.6/1/2010
  Q: "Hello Stefani, There are no experts for a category involving roomate's etc. So thought I would give ...
  A: And in other countries, its done routinely because in most places one family cannot afford an entire ...
Just Starting5/18/2010
  Q: Stefani, I am currently working as a finance analyst for a large mortgage servicer in Jacksonville ...
  A: about mortgage or no mortgage. That is really a personal decision based on your personal beliefs. ...
I am an Illinois Real Estate Broker willing to get into Property Management.5/7/2010
  Q: I am the Broker/Owner of a Real Estate Office in Illinois I would like to get into Property ...
  A: Of course, I'm not familiar with the law in Illinois, but my best guess/opinion is that yes, you can ...
quicken with owner occupied rental4/22/2010
  Q: hmm, not sure if you are a quicken expert but here we go. I live in an owner-occupied multifamily ...
  A: but I would do it in two journal entries -- say instead of writing a check or trying to do it in one ...
renting an apartment3/10/2010
  Q: I, renter, they, the employee/manager of the company leasing the apartment, signed a "deposit to ...
  A: So here is my opinion. The manger/employee is an acting agent for the company and the company is ...
Common area heating2/28/2010
  Q: I have at 5 floor 8-unit apartment unrestricted apartment building. All tenents are responsible for ...
  A: I believe it would be legal. However, unless and until you add that to the lease, I do not think ...
Short term rental2/18/2010
  Q: I am in the process of buying a townhouse in Florida and would like to do short term rentals. Do I ...
  A: I'm not sure what the laws are in the state of florida. That being said, you can do what you wish ...
rental Management2/17/2010
  Q: Does a property management company require an affiliation with an Real estate company to be a ...
  A: One can always manage their own property or a piece of property they have an interest in without any ...
Renting my condo2/11/2010
  Q: I am considering renting out my condo for $1100 to $1400. My expenses are the mortgage(principal, ...
  A: you can offset your expenses for repairs, insurance, taxes, special assessments, condo fees against ...
Real Estate transfer /LLC1/30/2010
  Q: I had 5 rental properties in an LLC owned by my trust. I paid someone to transfer 2 of these ...
  A: First, We limit our properties per llc to around 10 - 15 units. Each llc has to file it's own tax ...
property gain (loss) taxes1/3/2010
  Q: My wife and I own two houses. One is our primary house and one is a multi-family rental house. We ...
  A: but I think you both can sell each property and not claim capital gains if: you lived in the house ...
Property location scandal12/4/2009
  Q: my name is Anatoly and I am from Ukraine. I did not find a proper category for my inquiry, neither I ...
  A: but being totally uninformed about the Ukraine and how their housing works, I cannot help you. I ...
I have a petition of over 51% of community support against my Homeowner Association Rulings can I win?11/12/2009
  Q: I am being cited for several violations that my homeowners have placed against me for having an ...
  A: 2nd, the board thought it enough of a violation to write you a notice. You probably need to speak ...
carpets in apartment11/10/2009
  Q: One year ago, I and my husband, no children, moved into an apartment. Everything went ok. Now, 1 ...
  A: I'm sure your lease says that you have quiet enjoyment of your property and that means you are ...
leaving on short notice and sec deposit10/31/2009
  Q: "I have a problem: I live in New York. (This is not the problem, haha, my problem follows...) I ...
  A: Usually when you leave on short notice, it is grounds for a manager to keep your deposit. You can ...
renting an apartment10/30/2009
  Q: The last 4 years I lived abroad with my husband. When my husband died, I returned to the US. I want ...
  A: I can assure you, that someone would love to have you as a renter. Some companies are run by policy ...
3 day pay or quit notice and unlawful detainer10/24/2009
  Q: My father-in-law served his tenant a 3 day pay rent or quit notice . then an unlawful detainer ...
  A: I'm not certain of the laws or procedures in your state. First make sure the tenant didn't just ...
Security deposit9/9/2009
  Q: I have been given a security deposit for a commercial property do I bank it and hold on to it or ...
  A: but we do have one commercial building. We keep our deposits in a trust account. Which is a ...
Seniors Rights9/5/2009
  Q: I recently rented a house in Southern California with my 84 year old dad, 5 month old ...
  A: If so, the landlord is responsible for having it in working condition. YOu can send them a written ...
notice to landlord9/3/2009
  Q: "Dear Madam, I have a month-to-month tenancy with an oral lease, no written lease. So, this is ...
  A: You might do a google serach and see if you can find a written copy of the laws. You might also be ...
notice to landlord9/2/2009
  Q: I have a month-to-month tenancy with an oral lease, no written lease. So, this is actually a ...
  A: so please disregard this if it's a duplicate. I'm not familiar with the landlord laws of New York. ...
want to begin property management consulting company8/11/2009
  Q: Someone had asked you the question on how to start a consulting firm for property management. One of ...
  A: however, it would be better if you had a license if for no other reason than for "show & tell." It ...
Insuring rental properties held in an LLC7/28/2009
  Q: After transferring my investment home into an LLC, who should be listed as Insured on the home ...
  A: We have most of our properties insuranced in the name of the llc they are owed by. Your operating ...
renting an apartment7/14/2009
  Q: How are you? I would first like to thank you for taking the time out to answer my question. Okay. I ...
  A: I would say three weeks is adequate time for someone to run your application and get you a firm ...
My tenant is not paying the rent!!6/16/2009
  Q: My tenant has not paid the rent for the last two months. I have a house rented in Miami, but i live ...
  A: Find a property manager in the area of the property and begin eviction proceedings. if the tenants ...
Property management fees6/13/2009
  Q: What percentage of rental income should I use to estimate property management fees for a high end ...
  A: I would say you should allow 10% of the monthly income for fees, plus you will have a leasing fee to ...
PM responsibilities6/10/2009
  Q: I used a property manager for one year (I had signed a 12 month agreement) that did not provide ...
  A: It's jerks like that that make my job harder. Personally, for 300, it's not worth your time or your ...
Duties of a Property Manager6/8/2009
  Q: What routine duties should an owner be able to expect of a Property Manager for the payment of the ...
  A: we show the property, take apps, sign leases, check credit, coordinate with the renter on repairs ...
forcible entry and detainer-Ohio6/3/2009
  Q: Can a property Manager evict a tenant if the property is ownwd by someone else?
  A: of course I'm not a lawyer so this is not legal advice. My answer is yes. That's why one would ...
buying a rental property5/18/2009
  Q: im wanting to buy maybe a 4 family apartment complex to rent out as a long term investment. do i ...
  A: The buildings would vary in price by the location and condition and size of a property. You can ...
Apartment Complex - Site Manager5/16/2009
  Q: First I would like to say that I've been reading your Q&A's and have learned so much! "Thank You" ...
  A: So I wouldn't expect that the 1099 would be for employment income, only the apartment. In that ...
forecloser5/15/2009
  Q: Hello what happens when a condo complex 4 buildings 16 unit each with only half of them completed ...
  A: but usually, the bank is not in the business of completing a project of that nature. They would ...
rental5/13/2009
  Q: I owe a home in Alabama, I moved to Georgia for work. I had the house on the market to sell after a ...
  A: If they are late and the rent, you can terminate with an eviction and a 5/10 day notice. You will ...
Lease Renewal Agreement4/20/2009
  Q: I just wanted to clarify I few things from my previousI am an out of State (NY) landlord who owns a ...
  A: so I've been weighing the question carefully. I would not wait. I think you need to get the lease ...
Lease Agreement Renewal4/18/2009
  Q: My current tenant's lease expires in a little over 30 days. The original realtor who found the ...
  A: Is this a residential property? As a property manager, I lease the property and maintain contact ...
Licensing requirement for Property managers4/16/2009
  Q: I had read the previous answer to a question posted regarding Property Managers needing to be a ...
  A: so I really cannot answer that question directly. My guess is it has something to do with the ...
Bad Management3/31/2009
  Q: One of the units in our small 8-unit building has been delinquent on their maintenance fees for ...
  A: I'm no attorney so not sure I can be much help here. As for the tenant protected --I think you ...
Property tax3/19/2009
  Q: I was actually browsing when I happened upon a response of yours to someone else's question, so ...
  A: I certainly can feel your pain. We have similar problems year after year. Here in Oklahoma they ...
Rental Properties3/16/2009
  Q: My husband and I are interested in renting out our house. We don't really want to pay a management ...
  A: In fact, it's what I recommend, even though we are paid property managers! You can find a lease ...
interested in becoming a property manager soon3/13/2009
  Q: I've recently past the real estate exam, so therefore that makes me a provisional broker. I don't ...
  A: This can be an apartment complex or a private investor or a real estate office that manages ...
Primary home / Rental property tax3/3/2009
  Q: I own a condo. However for a temp assignment I moved out and rented it for 10 months. Now I am ...
  A: first, I'm not a cpa, so I'm not certain of the tax consequences of my answer. There is no ...
Title and Loan on Property into LLC Name2/18/2009
  Q: My husband and I purchased a tri-plex in May of 2006. In late 2006 we established our LLC and would ...
  A: you will not be able to transfer the loan. You may be able to refinance into the llc name, but you ...
Property Management Issue2/18/2009
  Q: Who is the governing board over Property Managers in Nevada? Is it the Real Estate Board or do they ...
  A: Most managers have a real estate license and work under a broker. So the broker is the first person ...
rental property while living abroad2/17/2009
  Q: Right now im in the process of owning rental property in a different state in America but im ...
  A: The key would be finding a manager you trust -- and then making sure that all your agreements are in ...
Managing and Maintaining my own rental properties2/9/2009
  Q: I own a small Property Management and Maintenance company. I now want to own rental properties. ...
  A: but I would have you put your rental properties into an llc that is separate from your property ...
Property for beginners1/31/2009
  Q: i was really amazed with you answers. I have been searching for a way to enter the property ...
  A: 1 how to get into the real estate investment business and 2 how to get into the property management ...
Corporation vs Partnership1/24/2009
  Q: My husband and I own a 4 unit complex in CO. We filed the business with the state as a Corporation, ...
  A: I'm not a cpa so I don't really know all the tax implications of the company being a corporation vs. ...
tenant deposit1/16/2009
  Q: recently our landlord phoned to say his property managers closed there doors and ran with all of ...
  A: Of course, I'm not an attorney so this is not legal advice, only my opinion from my experience. ...
1st Rental Property1/10/2009
  Q: Stefani - Hello. I recently bought a home and turned my condo residence into a rental property. I ...
  A: I'm not an attorney nor a cpa, so you might want to get a second opinion from one of those that you ...
becoming a real estate agent1/4/2009
  Q: Nachatilo, I'm a student and I'm working on a project for my Careers course. I was hoping you could ...
  A: I'm a Mrs. I'm not really a real estate agent. I'm a real estate investor, which means that I ...
Frozen Pipes12/20/2008
  Q: more frozen pipes stuff. Our pipes have been frozen for 4 days now. The landlord has written into ...
  A: you are not responsible to fix the problem. We have had some pipes that were added in the back of a ...
Frozen Pipes12/18/2008
  Q: The heat was left on colder than what it should have been left at by then tenant (50-55 degrees).  ...
  A: If you're the landlord -- If the lease states anything about repairs, then what the lease says takes ...
Rent Application Terms12/13/2008
  Q: I am an non-resident alien, having valid work permit having SSN. My wife and kid are with me as ...
  A: The new immigration laws make it a felony for a landlord to knowingly rent to an illegal alien as we ...
Starting Property Mgmt. Business12/8/2008
  Q: I have experience in the real estate market by flipping and remodeling homes. I would like to start ...
  A: but my guess is you do need a license. If you're acting as an agent and holding other's money, it ...
one year term11/18/2008
  Q: My friend and I signed an apartment lease. It says automatically renewing one year term. It didn't ...
  A: I'm not sure where you live and am not familiar with the landlord tenant laws in your state, but I ...
management11/11/2008
  Q: I own an apartment in Alhambra,Ca and will need someone to manage the apartment....What percent ...
  A: In our area, the management fee is bases on a percentage of the income collected. These are the ...
house10/27/2008
  Q: Can I create a LLC and move a second home into that LLC? do I need to re-mortgage? Will I be ...
  A: Normally, there is a clause in your mortgage agreement that you will notify the bank if you are ...
pet deposit10/25/2008
  Q: I need to seek your advice on an on going dispute with my apartment rental complex. I signed a lease ...
  A: I'm not an attorney so I can't say for certanity what the laws are. I would ask, did you and your ...
on site manager10/25/2008
  Q: In California is it required to have an on site property manager?
  A: I am not familiar with the management laws in california. You can check with your local real estate ...
Eviction due to foreclosure in CA10/11/2008
  Q: I'll keep this as brief as I can and get to the point. A Notice For Possession appeared on my door ...
  A: I can certainly understand your pain and frustration. I too have been in your position, newly ...
Lease up10/9/2008
  Q: I have a lease up coming up for income restricted housing. studios 1,2,3, bedroom brand new ...
  A: If you're saying that you are already living in the unit, and your lease expires on Dec 31, 2008? ...
assessment fees state of texas10/8/2008
  Q: all subdivisions in houston texas pay a assessment fee every year to maintain the subdivision, my ...
  A: I'm not sure what you question to me is. There certainly is no harm in asking for a reduction in the ...
Firing the property management company9/25/2008
  Q: I have been dealing with a property management company for a year and after getting a tenant after 9 ...
  A: Start wtih a letter to the management company stating that you are terminating your agreement and to ...
starting a property management company9/22/2008
  Q: I am interested in starting a property management company that deals mostly with vacant or ...
  A: so I cannot specifically answer your question. Most generally, though, it's not the fact that there ...
MN Rental Licensing Question9/19/2008
  Q: I administer/sign leases, show homes, collect rent for the management company I work for etc. I was ...
  A: so I cannot really answer your question. If you have questions like that, I'm sure your real estate ...
frustrated condo owner9/15/2008
  Q: I own a condominium in Queens, NY and I need some advice about what to do if my basement apartment ...
  A: Most condo have a Board of Directors and/or an association where one pays condo dues either mothnly ...
living next to rental property9/2/2008
  Q: Are there any rules regulating how many people and/or the number of automobiles that can reside in a ...
  A: The city code enforcement or neighborhood services in your area would be the ones to call. Check ...
RE: Do I need a license to be a Property Management?8/30/2008
  Q: I am planing in opening a property management company, but I am not sure if i need a license. I have ...
  A: you might start with becoming a leasing agent for an apartment or retirement home. A realtor course ...
Property Manager Misuse of Funds8/29/2008
  Q: I have a duplex in Oakland, CA. I have become suspicious of my property manager's accounting ...
  A: It sort of depends on what you wish to accomplish. If you're just wanting to terminate the ...
FORECLOSURE EVICTION8/29/2008
  Q: I have been living in an upper flat above my friends for approx 6 months now . we have had a ...
  A: but I do follow the landlord/tenant laws of my state so I have some idea of what they are. Your ...
tenant privacy rights8/27/2008
  Q: My husband and I took our 2 week vacation from the army so we could go see our families before he ...
  A: My first instinct is to tell you, to let the landlord know that you know "someone" went through your ...
Broker's Take8/13/2008
  Q: I know that the commission for a broker in relation to when an agent sells property is fixed, but I ...
  A: With a good team and a system, I do not see why there would be a limit. We have three people in the ...
rental house questions8/12/2008
  Q: Four of my friends and I are planning to move to New York City in the near future. Two weeks ago, ...
  A: it's not possible unless you get an entirely new loan. Sometimes there are provisions from the ...
finders fees8/5/2008
  Q: I manage a small complex (10 units) of townhouses in Northern California. We have a couple units ...
  A: You can call the board of realtors in your area and probably ask that question. You could also ...
payment to manager if tenant breaks lease8/1/2008
  Q: We are trying to rent out our condo for the 1st time. We signed a contract with an agent to find us ...
  A: Usually the payment is for a 12 month lease. Do you have a written contract with the agent? If so, ...
Rental home7/31/2008
  Q: My sister and I just acquired my mothers home from her trust and we have decided to rent it out. The ...
  A: creonline and do some looking for documents or links to purchase documents. We also started out ...
property management7/30/2008
  Q: im hoping you may give me some advice on setting up a property management business in grimsby.i need ...
  A: I'm wondering if you have no knowledge of the business aspect of setting up a business or you have ...
occupancy laws in Springfield, MO7/27/2008
  Q: Im looking for an apartment for myself, my 14 yr old daughter and 15 yr old son in Springfield, MO. ...
  A: I would say that unless you are under court supervision or getting government assistance with your ...
Breaking a lease before it even starts7/23/2008
  Q: I'm a landlord who has had people who are subletting my unit at the moment sign a lease for August ...
  A: I"ve had a big project going and have not been into my office. A short answer, yes, you can. ...
Advance rent and notice period7/21/2008
  Q: I have been renting a place for the las six months, i have not signed a legal document or lease it ...
  A: it will be difficult to establish wether the money you gave was the last month's rent or a deposit. ...
land trust7/19/2008
  Q: Do you know any attorney who handles does land trusts? Thank you, Dee Smith
  A: but I have an attorney in Oklahoma who can do them. Contact me by email if you are interested in ...
Residental Property Management Insuance rates7/13/2008
  Q: Stefani, I am considering opening a small Property Management company in a small southern Illinois ...
  A: I think what you would need is some sort of umbrella coverage for yourself that would cover you as ...
lease7/12/2008
  Q: me and my roommate filled out an application to an apartment, however, she did not sign the lease ...
  A: I am not an attorney and this is not legal advice. I would say the roommate is not legally bound to ...
Insurance Liability on the Guarantor of loan for LLC property7/2/2008
  Q: I am the guarantor of the loan for a rental property that we quit claimed the deed to our family LLC ...
  A: so this isn't legal advice, but based on what we do in our property business. The whole purpose of ...
Tenant has installed a large pool without consent6/26/2008
  Q: My father owns and rents a single family home in Chicago. The tenants have erected a massive pool ...
  A: Can't you work something out with them to put up the proper fencing and keep them and the pool? I am ...
Starting a property management business6/24/2008
  Q: How do I start a property management business. Mainly managing homes while residents are out for ...
  A: in terms of getting an llc going, having a telephone number, etc. The hardest part is getting ...
Property Management Field6/19/2008
  Q: I am 26 yrs old and live in NY. I am looking to go about finding job opportunities in property ...
  A: Are you looking to change areas? Check out www.craigslist.org. They have listings for all over the ...
NEED TO EVICT RENTERS...6/14/2008
  Q: We have renters in our home, they're now late for almost 3months. The renter told me that she's ...
  A: Legally, it will not get the tenants evicted. You must serve them proper notice, which is in ...
Starting my own PM consulting company6/13/2008
  Q: My name is Deidra I am would like to start my own property management consulting firm. I have ten ...
  A: You do sound like you're qualified. In most states, you do need a real estate license. Other than ...
30 Day Notice6/11/2008
  Q: My lease for an apartment ends July 31, 2008 and the contract says we need to give 30 days notice. ...
  A: the agent can sign up someone to move once you are out. You can always ask if you give your 30 day ...
Business License6/11/2008
  Q: Good day, Do I need a business license to own multi family properties via LLC? If yes do you know ...
  A: Here in Oklahoma if one owns a multi-family property and has it titled in an llc, there are no ...
Purchase Rental Property6/9/2008
  Q: Stefani, I purchased my first rental property in CT about 3 years ago for 189k. Since I saw that ...
  A: I think you will be immensely glad you did. As for the 30K. I don't know your other financial ...
Lawn Problem6/8/2008
  Q: Stefani, When we moved in to our apartment, the landlord verbally agreed that she would take care of ...
  A: as a landlord, I can tell you, getting the grass mowed is not always an easy job and it's usually ...
House Fire6/7/2008
  Q: I rented a property and there was a grease fire. It was our fault. The house I was renting was ...
  A: I'm not an attorney, but I believe the insurance company would have to prove that you were somehow ...
Becoming a Real Estate Manager6/4/2008
  Q: Can you please tell me what is required to become a Real Estate Property Manager.
  A: it takes a real estate license. Some experience in management or dealing with properties would be ...
verbal agreement - rent in exchange for work6/1/2008
  Q: I offered the carpenter who remodeled my kitchen the opportunity to move into an extra bedroom in my ...
  A: so he doesn't owe you any money for the rent, i.e., he's not late (which I would suggest a 5/10 ...
Realtor/manager repairs without ok from owner5/30/2008
  Q: Hey I know that you can probably answer this for me. situation with one of three OK houses that is ...
  A: The property manager has NO BUSINESS making a decision of that expense without your consent. It ...
Negligence repairs/carpet cleaning charges5/27/2008
  Q: Skyview was shattered by storm rental network,did not fix it for over 8 months plus,isn't it true ...
  A: but I'm imaging it's what we call a sky light. If it was broken and needed repair, you should ...
Starting my own Property Managemnt Company5/23/2008
  Q: I have been in the Property Management Industry in the Central Florida area for over 8 years for ...
  A: I'm not sure of the laws in Florida, but my guess would be that, yes, you do need a license. If for ...
compensation5/3/2008
  Q: Is there a "standard" rate of compensation for an on site residential apartment property manager ...
  A: but I am not familiar with on-site management. I would say it depends on the size of the complex. ...
complaint against my property manager4/25/2008
  Q: I own 2 condos in Las Vegas since 2003.I live in Massachusetts.I have had the same property manager ...
  A: I am not a big fan of going to court for anything except evictions. When was the last time you ...
landlord/rental laws4/24/2008
  Q: Do you need a license in Indiana to be a property manager for multiple properties?
  A: Most states require some sort of realtor license when dealing with other people's money and creating ...
Property Management4/17/2008
  Q: You stated that a person does not need a license to rent and manage their own property. What are ...
  A: although I am not an attorney, the same goes. If you own a portion of the property and the other ...
Billboard Ground Rent4/12/2008
  Q: I own a house that has 45 acres of ground behind it that is currently being built into a Towne ...
  A: that's a tough question for me. I have no knowledge of property leasing for signage. I would ...
Kid going to College. What is the best way to buy a renal property for him to live-in and rent out?4/8/2008
  Q: I live in Oregon and my son will go to college in Arizona. I am considering buying a house so that ...
  A: My personal answer is if you wish to put the house in the name of the llc, you should create the llc ...
holding condo fees4/7/2008
  Q: Is it legal in ohio for me to put my condo fees into an escrow or holding account until negligent ...
  A: Sorry I cannot be more help to you. Do you have your association contract? Perhaps the contract ...
Figuring basis for properties moved to an LLC4/6/2008
  Q: My husband and I have owned and managed rental property for many years, and elected in June of this ...
  A: this is the way we do ours when converting from a personal rental and using the schedule e to ...
Rent to Own without being scammed4/2/2008
  Q: I would like to know the best way for me to get in a rent to own property without being scammed. ...
  A: that certainly is a problem. We have had renters come in with similar stories. My suggestion would ...
Condo pool question4/2/2008
  Q: I live in Arizona and I recently rented a condo in a complex that has a locked pool and exercise ...
  A: and you want to use the pool and exercise room, you should pay the deposit. If it's a fee, my guess ...
Land Trusts, refinancing4/1/2008
  Q: Stefani, My wife and I are primary Beneficiaries of a Home and property that are in a Land Trust. ...
  A: I am not an attorney but I did look up the texas laws. Who knew? This is the first time I ever ...
Behind on Mortgages3/25/2008
  Q: My wife and I have 8 rental units, plus our home. Over the past 6 months we've had one issue after ...
  A: I can completely understand your situation. I'm not sure if you're telling me that you're behind on ...
1st rental property - how to structure mgmt3/20/2008
  Q: Stefani, My wife and I bought 4 lots in TX and built a house on lot #1 and we want to rent it out ...
  A: Although I'm not an attorney, I have been to many and have faced the same struggle in our business. ...
California state law3/14/2008
  Q: Hi, In the past, the law in California required an on-site manager for 16 + units. Is that still ...
  A: as I know nothing about ca state law. I would tell you to contact the ca real estate board and ask ...
Should I do it3/13/2008
  Q: IF you saw this on a website, what questions would you ask and does anything sound strange? Hi, ...
  A: I would say, yes, this does sound plausible. We see situations like this all the time. Someone or ...
Personal Income3/12/2008
  Q: Another question here: Where is a good resource to start learning how to syndicate a residential ...
  A: but my belief is that unless you have a securities license, you cannot syndicate money for real ...
Personal Income3/12/2008
  Q: My goal is to own a fourplex within the next 6 months. I am 23 years old. My question is actually ...
  A: I cannot answer your question about which job to keep. I will tell you that when we first started, ...
Property taxes3/12/2008
  Q: I am currently planning to build a duplex as my first attempt at being a landlord. I have set up a ...
  A: your assessed value will not decrease by the amount of depreciation. That's a totally separate ...
rental properties3/10/2008
  Q: I was curious, how did you buy your first investment properties with very little down payment? Did ...
  A: we looked for a seller who was flexible and willing to carry part of the note. We bought 2 duplexes ...
Property management company3/10/2008
  Q: My wife and I reside in NY. We purchased in investment home in Tampa, FL and another with her ...
  A: but I'm certain that you do not need to be a real estate agent to manage your own property or ...
thinking about renting out home3/1/2008
  Q: I've got a lakefront house in the mountains of TN. I'm from NJ and having made the full-time ...
  A: Is there some reason you really want to keep the property? If the rental value is so much higher ...
rent besides downpayment2/29/2008
  Q: I found an amortization schedule online. I play with it just to see how it works. Here is the ...
  A: The rental phase, where all payments are ONLY rent and then some condition is met (usually a down ...
rent to own2/28/2008
  Q: How does a rent to own property work exactly? Let's say that I would like to either sell my house ...
  A: but we offer a rental price per month and a three year option. So for your example we would rent ...
pet agreement2/24/2008
  Q: I would like to know how much landlords charge for pet fee each month usually, and how much is the ...
  A: So, it is a negotiable item. We charge 100 - 200 per pet for a move in fee and it is ...
Rental property2/20/2008
  Q: I have a house in Florida that is being rented and I have a Rental Property Management Company ...
  A: I'm not an attorney and not familiar with FL law, so really can't answer that for certain. My guess ...
difficulty find a tenant2/12/2008
  Q: I live in Georgia (I understand you have the experiences in MO and KS, but I just would like your ...
  A: At one time my husband and I bought a very cute little house in a neighborhood we knew nothing ...
Do I have a good case against my property management company2/11/2008
  Q: I entered into a property management agreement approximately 6 years ago. The first tenant occupied ...
  A: being a landlord and a property management company, this is a slippery slope for me to answer. Yes, ...
wear and tear or negligence?2/9/2008
  Q: I own a duplex. My husband and I live downstairs and rent the upstairs. We refinished the bathroom ...
  A: it's just normal wear and tear. Most tenants who have never owned a house just don't know or care ...
Investment home insurance when in land trust2/8/2008
  Q: How do I teach my insurance agent that they can insure my home now that I have placed it into a Land ...
  A: you cannot always turn a deaf ear -- you may have to get a different agent and/or different ...
New lease2/8/2008
  Q: We finalized an apartment and paid the initial non refundable deposit of $ 400 and also faxed our ...
  A: Once a deposit is paid and application accepted (if they called you back to say you were approved) ...
Purchasing a new house and then renting it2/7/2008
  Q: I have been looking at mortgage companies website and noted that they provide different interest ...
  A: I really don't understand all the nuiances of that. I do think it matters how you fill out your tax ...
revocable land trusts2/6/2008
  Q: Stefani, We are looking to place a piece of land into a land trust. The mortgage is in our personal ...
  A: yes! I'm not an attorney, but here is my best advise based on what we do. The mortgage co or bank ...
Question about deposit1/31/2008
  Q: I have just recently seen an apartment that I filled out an application for. I was approved. They ...
  A: I would say, yes, that's legal. And in our business, I would also say it's quite common. The apts ...
If I move my house into an LLC and charge rent, how does that effect my credit rating?1/28/2008
  Q: I own a house that my parents live in. I dont live with them, I live about 2 hours away. They have ...
  A: If you were to charge your parents rent you could show that on your taxes without or without putting ...
Actual First Step - Commercial Property1/24/2008
  Q: I have found a few CRE listings and have been reading up on the subject for the past few months. ...
  A: That's great. Once you find a property that you think fits your criteria for purchase (whatever ...
trying to buy parents house while renters are present1/16/2008
  Q: i am trying to buy my parents second home that they currently rent out a family in Maryland. they ...
  A: You want to make sure your loan is going to go through and you're able to purchase the house, before ...
Can I sue my property management company because I slipped on snow and ice covered sidwalks / drives1/10/2008
  Q: I am asking this question, because I pay a lot to live at my property and I firmly beleive that snow ...
  A: The question being, who had the responsibility to clear the walkways? On most single or two family ...
Suggestion1/6/2008
  Q: Before I ask my question, allow me to give detail to my aspirations. I am assuming that the housing ...
  A: My husband and I started similarly with the 2 family unit. After we had purchased 3 or 4 rent ...
Property Management12/29/2007
  Q: How do I become a licensed property manager?
  A: So start there. Also, you need to check with your state to see if there is a property manager ...
Renting a house12/20/2007
  Q: I just gave a deposit for a house that I will be renting in Feb. when I met with the property ...
  A: I have been in that position many years ago. Just moved in and 2 months later find out the house is ...
Gain/loss on rental property12/19/2007
  Q: This might be a more complex question but I need to find a right answer. If a rental property has ...
  A: but I can tell you what I believe. Yes, they can. The ownership is intent not necessarily ...
Tenant Foreclosure12/19/2007
  Q: I am living in SW Florida and have currently received a foreclosure notice on the house I am ...
  A: Now there is a possibility that there is some sort of mistake. You don't say if your landlord is ...
Using LLC to own RealEstate12/17/2007
  Q: I have 2 rental properties, a single and a duplex. There both rental and occupied right now. The ...
  A: I've heard many cases for it, but it's mostly for asset protection and there are ways to do that by ...
Lenders for buying property thro' an LLC12/12/2007
  Q: Who are the lenders who will provide loans to LLCs to purchase investment properties - single ...
  A: although generally speaking all members of the llc have to sign as personal guarantors for the loans ...
vacancy12/10/2007
  Q: I have a questione, and really appreciate your time and answere what does it mean when you ...
  A: one looks at the income potential and the amount of cash you would have to have out of your own ...
Property management issue12/5/2007
  Q: I currently have a property manager that has been collecting rent and sending me some, but not all. ...
  A: I would send him the 45 day notice to terminate. If you can find something in the contract with him ...
LLC on title12/3/2007
  Q: I am investing in a property with another person and wanted to do so through an llc. Can I do the ...
  A: but different banks have different rules so you may want to visit with the banker. At closing, the ...
LLC and SSDI11/30/2007
  Q: My wife and I own rental property in our own names. We are looking at purchasing more but with an ...
  A: this is a tough question for me, as I am not a CPA nor an attorney. But here's my 2 cents -- and ...
First LLC investment purchase11/30/2007
  Q: My wife and I formed a home-based California LLC and recently attended an auction and purchased ...
  A: the llc is the way to go for personal asset protection. And yes, I think you're on the right track. ...
Credit Application Process for new Tenants11/19/2007
  Q: I belive that some of my potential new tenants are using false SS#'s on my application. So I'd like ...
  A: I also make sure I've got a middle name or initial. I always check for criminal records and ...
tenat suing for security11/8/2007
  Q: I am holding 2nd Fl tenant security because they left behind abused, discolored & filthy carpet. ...
  A: I would say you did nothing wrong in keeping the deposit. I don't understand from your note how ...
APARTMENT LEASE AGREEMENT11/8/2007
  Q: MY GIRLFRIEND HAS A ROOMMATE THAT BRING STRANGE GUYS TO THE APARTMENT AND MULTIPLE GUYS AT THAT AND ...
  A: the apartments can evict just the one roomate if they want to. It would be best for your girlfriend ...
Exploring Idea of Renting out my Condo11/7/2007
  Q: I currently own a 2-BR 2-BA condo, but I am considering renting it out to help cover the mortgage ...
  A: Doing a little bit of research will help you get a feel for what rents are in your area adn how ...
15 and wants to invest in first rental property11/7/2007
  Q: I live in Homestead florida and there are a lot of new buildings and homes being added to our small ...
  A: In most states, that is too young to contract for purchase of property. Do you have parental ...
Deposits11/4/2007
  Q: After a recent purchase I recieved deposit payments from the previous owner with one exception, ...
  A: Of course you have a right to receive a deposit from him. You also have a right to have the old ...
borrowing against a single family rental property10/15/2007
  Q: I have good credit and own 4 properties with very little debt ($350K total on $1MM in property - in ...
  A: I can tell you I understand your frustration. We've run into some sluggishness on the part of the ...
cancellation contract from landlord to property manager10/13/2007
  Q: i have a contract agreement with property manager 1 year,but when the tenant sign a lease to move ...
  A: that's frustrating. I would write to your manager and demand a copy of the lease and the invoices. ...
my tenant is not paying rent10/9/2007
  Q: I hired a property manager for renting out my condo. He rented to the owner of his agencies ...
  A: the manager should be filing for eviction. In our state it takes about 20 days after filing to get ...
owning or managing an apartment complex10/5/2007
  Q: I have no experience on managing or owning a complex of any type, but it sounds interesting and ...
  A: This way you have the "try before you buy" experience and if you end up not liking it, you have ZERO ...
Maintenance Upcharge9/27/2007
  Q: I have owned an apartment for 6 months and just discovered my property manager is charging me 17% ...
  A: sometimes management companies do charge an upcharge for maintenance. We do not, but it is not ...
additional uear-long lease after completion of the first9/25/2007
  Q: We are about to complete our one-year lease on an apartment, and our landlord has asked us if we ...
  A: See if you can find a copy on the web -- do a google search. Do you have a copy of your lease? ...
management responsibility9/18/2007
  Q: Two years ago we hired a local company to manage our rental property. The tenant was permitted to ...
  A: Being both a property manager and an investor, it's always frustrating when crummy tenants ruin new ...
Brokering Property Management9/16/2007
  Q: Being a California Lic. Realtor, can I be sponsored by 2 brokers, one for Sales, and one for ...
  A: Is it not possible to have one broker sponsor you for both types? I would think you might end up ...
"Rent Loss Insurance"????9/12/2007
  Q: I am just about to close on a refinance to my condo that I rent out (Not primary residence). The ...
  A: They should be able to offer you a "loss of rents" rider so that if the property is damaged by fire ...
Verbal agreement on leasing of a property.9/10/2007
  Q: Recently my girlfriend and I found a property in Ocean Beach CA. We went to view the house and ...
  A: I'm not an attorney, so this is not legal advice and I also don't know the landlord tenant laws in ...
Purchasing home8/31/2007
  Q: I am purchasing a home that is subject to existing financing. The owner wants to sign the deed over ...
  A: we will see more and more of this type of financing. Normally title companies and attorneys are ...
Land Trusts8/30/2007
  Q: We wanted to sell our property in SD in the traditional manner and we were approached by an ...
  A: it makes sense and we do this on a regular basis. The purpose of moving the property to the Land ...
Question on Lease8/23/2007
  Q: My landlord just told me that my contract for renting a flat has expired on 1 July 2007 and that ...
  A: It is not here. However, if you are renting through a management company, they may expect a fee for ...
When to sell- if ever?8/22/2007
  Q: Stefani, I bought my rental property, a duplex in August of 2005. The housing market in the area is ...
  A: Is it for monthly cash flow, is it to offset non-passive activity gains, like your income, or is it ...
LLC Question?8/22/2007
  Q: Stefani, Read your background and figured I am at the beginning steps like you were several years ...
  A: this is my opinion -- and I only buy in my state, so it's based on my experience with that in mind. ...
Oklahoma Management Company8/21/2007
  Q: I am looking into starting a small property management company in Oklahoma after I inherited some ...
  A: You do not need a license to manage your own properties. If you want to manage others' properties, ...
problem tenant8/15/2007
  Q: In mid-April we had a new tenant move in with her daughter (age 28). The daughter was quick to ...
  A: I guess you have a choice to make. When a tenant breaks the lease (in this case by having persons ...
Negotiating a Rental Lease8/14/2007
  Q: I recently began talking with a landlord through email about a room he had available in his house in ...
  A: I'm not an attorney so this isn't legal advice, but I would say, you are not under a contract with ...
Apartment purchase8/10/2007
  Q: I would like to buy a 8-family apartment bldg; what is the best way to determine the purchase price, ...
  A: Did you ask the lender if you needed seasoned funds? If not, you can borrow the 20% down in the ...
repair work8/8/2007
  Q: I HAVE A HOME REPAIR COMPANY AND HOPE TO BREAK IN TO THE REAL ESTATE REPAIR/REBUILD MARKET. MY ...
  A: hire most from outside sources. Everyone I know is always looking for a reputable source of repair ...
n/a8/4/2007
  Q: Can a tenant sue the hoa - a tenant attempted to sue by issuing a "cease and desist" order.
  A: and you're asking about a tenant, I'm going to assume a home owner within the subdivision (for lack ...
Vacation Rental7/23/2007
  Q: We live in San Francisco and the 3rd floor in our home has its own kitchen, living room, bedroom and ...
  A: you do not need a license (such as a realtor license) to rent out your own property. However, you ...
sales tax on work, not just on materials7/19/2007
  Q: Stefani! I just requested an estimate from the same guy who last time prepared the unit for a new ...
  A: again, I'm no cpa but it seems to me that you normally do not charge sales tax on labor and you ...
First rental property7/15/2007
  Q: We'll be purchasing our first rental property within the month. Where can I obtain effective ...
  A: creonline.com (creative real estate online) or if you can get it in time, carlton sheets has great ...
Renting for a neighbor7/15/2007
  Q: Is it illegal for an individual to rent property for a neighbor?
  A: I"m not sure if you're asking if it's okay for you to be the "manager" type person and rent out the ...
beginner7/13/2007
  Q: I read your profile and my situation simple. I just recently purchased an investment property, my ...
  A: but here are some suggestions. You can gather a ton of information by looking at other properties in ...
cost for property management7/13/2007
  Q: how much can I expect to pay a property manager to manager one residential unit? I am told the ...
  A: I think you are close. I'm sure if varies from place to place, but here, I normally collect 100% of ...
Leasing signing7/4/2007
  Q: Please advise the steps required for a leasing signing/closing. What's the preferred lease start ...
  A: Are you a renter signing a lease or an owner signing with a tenant? Either way, the 1st is the best ...
question7/3/2007
  Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ...
  A: it's possible. You would need to check with the zoning for the property to see if you can have a ...
verbal agreement6/28/2007
  Q: are verbal agreements a binding contract between landlord and tennant?
  A: Melinda -- I'm not an attorney so this is not legal advice, just my opinion. It sort of depends on ...
credit reports6/6/2007
  Q: I'm a landlord, and I would like to find out how to order credit reports on applicants, directly ...
  A: You can join a credit bureau agency in your local area. There is usually a per year fee and then a ...
summer lease6/6/2007
  Q: I rented my cottage last summer through a local real estate broker for the months of June and July. ...
  A: I'm not a real estate broker, so I don't really know the laws regarding that. I would think there ...
Revocable Land Trust6/1/2007
  Q: I read your answer to Jae with regard to transfering investment property into a land trust. Is ...
  A: I cannot give you legal advice. Here's what we do -- We have a copy of a land trust document -- ...
condo rental agreement5/31/2007
  Q: Condo is in Florida. One of the provisions in the property management agreement given to us for ...
  A: For some reason the question ended up in my junk email. Any way -- In the past when I've managed ...
Title transfer5/10/2007
  Q: Recently, I bought an out of state rental property in TX . And I just formed a single member LLC to ...
  A: Just experience and what we've done in the past. As far as the land trust goes, normally that will ...
Starting a Property Management Business5/8/2007
  Q: What are some things to do when starting a property management business like a checklist?
  A: but generally have a plan for getting the properties in rent ready condtiion, which means having the ...
assignment of lease5/4/2007
  Q: I read this on eHow.com: Depending on the laws of your state, you may have the right to cancel the ...
  A: Do you have a copy of your lease? The right to transfer or assign the lease might be written into ...
Personal to LLC5/2/2007
  Q: My wife and I are about to purchase our first home (we are in ours 30's). We do not have the ...
  A: :) My husband and I actually did the same thing. Our duplex is two story with one family up and ...
Starting a Property Management Company5/1/2007
  Q: I am a Realtor and am looking at starting a property management company in Orlando, Florida and I'm ...
  A: Here in Oklahoma, to create the agency relationship between you and your property owners, being a ...
LLC Transfer4/23/2007
  Q: I was reading your answers about transferring real estate from yourself to a LLC. I get all of that, ...
  A: if you originated the note in your personal name and the lender you are using reports to the credit ...
HELP4/22/2007
  Q: I am looking to start my own property management company. I am a stay at home mom and have very ...
  A: You can pay pal me $16.00 and I'll send out an autographed copy!:) Snacho@swbell.net is my paypal ...
Land Trust/Quitclaim Deed4/16/2007
  Q: I have a problem. My properties are about to go into foreclosure and I am trying everything I can ...
  A: I would say this: First, I don't know the time line when you say they are about to be foreclosed on. ...
Parents won't move out of home4/16/2007
  Q: I rent my home in California to my parents and our agreement was that they would live there for one ...
  A: can't answer the legal part about what the California laws are for verbal agreements, but my guess ...
steps to getting started4/8/2007
  Q: I want to potential own a property that already has tenants in it and start out very small. My ...
  A: It is such a great way to grow wealth, that when you start young and can invest for 20 years, you ...
property insurance for an LLC4/2/2007
  Q: We have a rental property that we are thinking of converting into an LLC but our insurance ...
  A: Does your occurrence of problems double just because you're a company? That makes no sense. I have ...
Finding clients/owners/business4/2/2007
  Q: My first time on this site. Very impressive! I have been investing is real estate for a short time. ...
  A: I always got my clients through referrals. So of course telling everyone you know is a good start. ...
Duplex4/1/2007
  Q: I'd like to purchase or invest in a Duplex that is a fixer-upper. The duplex has been in foreclosure ...
  A: I'd love to be able to tell you how to get good tenants and keep them forever, but even I don't have ...
Rental property insurance3/22/2007
  Q: I made a few contacts already that I think may help us to find out a good CPA with rental property ...
  A: Ours would probably not cover something like that. Plus the deductible is high (some policies 2,500 ...
Benefits of creating an LLC3/19/2007
  Q: My ex and I recently did the 2006 taxes as a married couple since we were married for the whole ...
  A: I'm sorry, but this question is over my head. I depend on my CPA to help me with those rules and I ...
Rental Income - Do I have to claim it on taxes?2/7/2007
  Q: I bought a house in March of 2006 and lived there until July 30th. The house sat vacant for 3 ...
  A: I'm not a tax person and this is not legal advice. Technically, are you supposed to report ALL ...
gov. realestate info.1/30/2007
  Q: there is a property for sale and it is at another state from were i live an it is a tax lien ...
  A: If not the country treasurer, find out who one would pay the tax payment to, and contact that ...
license1/26/2007
  Q: Stefani, I want to manage my own townhouses, but I would like to know do you need a license to do ...
  A: you do not need a license to rent out and manage your own property. Having a license is to protect ...
How to notify bank about LLC formation1/20/2007
  Q: I have a couple of rental properties in Arizona that have mortgages associated with them, and I want ...
  A: The note is simply stating that you are borrowing money, from who you're borrowing and the terms of ...
getting started1/16/2007
  Q: I'm tired of being "house poor". I want to get into real estate as a land lord because I'm quite ...
  A: I don't have much experience in the markets that are appreciating quickly but I know there are boot ...
Renters Credit1/6/2007
  Q: I am getting ready to rent my first rental and I have a question about checking the prospective ...
  A: maybe $25 or so. I never do that. We also have internet access to our local court files, (call ...
What insurance to get?1/5/2007
  Q: What insurance coverage do you recommend for single family rental houses, and what premiums and ...
  A: Lior -- First and foremost, you must have liability insurance. Some companies have that as a ...
Creating a Property Management company1/5/2007
  Q: I am getting divorced and my husband and I decided to keep/manage our four rental properties ...
  A: it seems I start all my answers with this -- I am not an attorney nor a CPA, but here's my opinion. ...
Dissatisfied With Property Management Company1/3/2007
  Q: The people I hired to manage my property located in another state are not satisfactory and I would ...
  A: Do you have a copy of the lease with the current tenant? I would contact the property manager with ...
Utilities overpassing rent12/22/2006
  Q: I would like to know how to better approach my tenants in the situation that way their utilities ...
  A: that's a tough situation. You don't say where you are located and which utilities you are paying, ...
Manage my own property12/18/2006
  Q: We had to dismiss our property manager. Now, we are transferring our property management to us. We ...
  A: L. -- I'm not sure what the laws are where you are and I'm not an attorney, yada yada yada -- ...
Starting My Own Managment Co12/14/2006
  Q: I work with a property management company now as an onsite supervisor of a high end condo that i ...
  A: I'm not an attorney and this is not legal advise. Is it my best opinion. Are you going to be an ...
rental property management company12/9/2006
  Q: I'm thinking about starting a rental property management company. Can a rental management company ...
  A: a rental management company can purchase rental properties. I am not a cpa so you might want to ...
Property Management- Beginner in Rental Real Estate11/25/2006
  Q: I am a single woman who is on my way to buying my first multi-family (2-4units) property. I would ...
  A: that goes for laundry, shopping, house cleaning, etc. too. Cost wise, can you hire someone to do ...
Taking loan on Rental property11/14/2006
  Q: Recently we moved from our town home to a new place.I have taken a mortgage to buy the new place. We ...
  A: but here's mho --I think it's going to be a tax wash either way you go. If the rental property pays ...
Renter's Rights11/3/2006
  Q: I have been living in an upper flat in St Clair Shores, Michigan for 3 years. It is 100 years old. I ...
  A: well, I can tell how frustrated you are. Although you're in another state and your laws will be ...
balancing rentals and being employed FT10/26/2006
  Q: My wife and I both work-I'm F/T, she's 30hrs/wk. We've owned two single family rentals for several ...
  A: When my husband and I started our business, we both worked full-time jobs and did the rental at ...
LLC for current properties9/22/2006
  Q: I own 1 townhouse that I live in and another single family in another state that I rent out to a ...
  A: I'm not sure about which state you should create the llc in, the state where you're living, or the ...
Rental Property Management9/12/2006
  Q: I have 12 rental houses now with a total of 18 units.(some of the homes are duplexes) I have an ...
  A: For building wealth, real estate is just such a great vehicle and when you combine it with building ...
Non-renewal of lease8/3/2006
  Q: I have a tenant that, when her lease is up Aug 2007 i wish not to renew her lease. She is ...
  A: there is definitely a correct way to go about it. You should check the landlord/tennant laws in ...
Slumlord, problematic property owner;7/1/2006
  Q: Please, direct (us) tenant's of the rental building/property in question to help where change's can ...
  A: Landlords have a duty to keep a property safe, clean and sanitary and in working order. They do not ...
no $ to start6/25/2006
  Q: .in my area there is 4 older mill houses 4 for sale on 1 lot..they are currently rented for ...
  A: it sound like a reasonable deal. A finaince company will usually make you come up with 20 - 30 % ...
want to buymy 1st rental property6/9/2006
  Q: How do I get started buying my 1st rental property" "Here`s what capital I have to work with $5,000 ...
  A: 1) taking over a note "subject to" or 2) getting an owner to help in the financing. What have you ...
buying an income property5/28/2006
  Q: I have 2-3 hundred thousand to invest and want to buy an investment property (or more). How do I get ...
  A: so you're already 50% ahead of the game. Good for you! What have you done so far? Have you read a ...
Management Companies5/27/2006
  Q: I'm looking at investing in my first investment property. The property will be out of state and I ...
  A: I think it's best for you to be close enough to check on the property yourself when necessary. That ...
terminating lease before lease end5/15/2006
  Q: I have a tenant who wishes to terminate his lease on July 31st. The lease he signed is untill ...
  A: That being said, it mostly depends on how your lease is written and what a judge in your county will ...
How did you do it?5/14/2006
  Q: Stefani, your profile states the following: "Experience in the area I started purchasing rental ...
  A: we used other people's money. The year we purchased 11 properties, we had a money partner. We ...
After the LLC, then what?5/3/2006
  Q: My siblings and I jointly own property which we want to rent out. We read your advice to set up an ...
  A: WHen contacting insurance companies, it's best to use one who is familiar with you. They can ...
I PURCHASED A CONDO IN THE...4/16/2006
  Q: I PURCHASED A CONDO IN THE BEGINING OF DECEMBER OF LAST YEAR. ON THE 28TH OF DECEMBER, THERE WAS A ...
  A: but I would tell you this: Our city department is very difficult to work with. We've had a fire ...
How to take 504/12/2006
  Q: How do I take 50% depreciation in Turbo Tax? I used the percent calculation feature for expenses on ...
  A: First, turbo tax usually asks you what percentage of a property you own and then gives you an option ...
Renting agreement4/4/2006
  Q: Im considering buying a house in the furture to rent out but really have no idea on all the details ...
  A: If you are just starting to become interested in rental real estate, do some reading up. One good ...
I have the property-Now What!?2/16/2006
  Q: Less than 1 year ago I purcahsed a condo as my primary residence. In December on the morning of the ...
  A: My entire family has been down with the flu this past week. Well, first off, I would suggest you ...
opening a residential prop. management company2/10/2006
  Q: My husband and I own 4 rental properties and take care of renting them out along with the property ...
  A: That being said, here in Oklahoma you are supposed to have a real estate license to be a property ...
What Does a Property Manager Do1/22/2006
  Q: We are looking at investing in rental properties, but can't find information on how much it would ...
  A: In our area, customary is 10% of the rents collected. Generally, there is also a "leasing fee", ...
New Investment1/20/2006
  Q: My friend and I will be purchasing a home in Indiana that will be used as a rental. My question is ...
  A: It is not necessary to file for an LLC to “do” your real estate investing. You can accomplish all ...
Getting started in real estate1/19/2006
  Q: I was just browsing around and came across some comments you made on All Experts. Im a business ...
  A: First, I do not believe you need to get a credit card to establish yourself. You may have rental ...
early terminating lease and looking for new tenants12/19/2005
  Q: May be I may take advantage of your great knowledge again. My present tenant has lived in the house ...
  A: I guess you found out the hard way, the second most important aspect of a renter is stabilitiy. ...
cost disputes about telephone and gas12/16/2005
  Q: In August I purchased my first house to be rented out. The first tenant living there had to install ...
  A: I can give you what as a property manager is standard operating practice. Generally speaking, a ...
Investment property taxes12/9/2005
  Q: I just purchased a 6 unit investment property (in Florida) - the property will loss about $25,000 ...
  A: By you personally or in an LLC or company, etc. If the property is in your name personally (which ...
Apartment Buildings.11/29/2005
  Q: I am searching for an apartment complex to purchase. What should I look at in considering the ...
  A: I have been on both sides of this issue, 1) as a property owner bying an apartment complex with a ...
Advice needed on renting condo10/4/2005
  Q: I am planning to rent my condo out in about a month. I'm wondering if I can find a sample or generic ...
  A: you can find many boiler plate type leases easily on the web. Check www.creonline.com - creative ...
rental prices9/6/2005
  Q: I am a college student thinking about moving into my own apartment. I am on a very tight budget and ...
  A: sometimes you can talk down the rent. Probably not wtih a large corporate-owned apartment complex ...
late fees on rent7/19/2005
  Q: our rent is due the 3rd of each month.on the 4th there is a $25.00 late fee and each day after the ...
  A: Tina -- I don't know what state you're in and I'm not a lawyer, so I don't really know the law. ...
Purchasing residential property6/30/2005
  Q: I am looking into acquiring residental rental property in the Mississippi Gulf Coast area. I need to ...
  A: I'm goign to assume for this answer that you do not. If you have some qualified monies, i.e. a ...
property management6/24/2005
  Q: My husband and I bought our own properties and have been managing properties for a few clients ...
  A: The most common way I have gotten management jobs is through word of mouth, mostly from realtors. ...
Getting Started in Real Estate6/22/2005
  Q: My wife and I purchased our first home (we live in it) last August. We would like to purchase a ...
  A: sometimes, depending on where the property is. There are sometimes government programs for money ...
Looking at an apartment complex6/8/2005
  Q: Recently I saw an ad for an 11 bedroom apartment complex (a house converted into seperate ...
  A: First I would say, don't guess. If you're interested in the apartments, call and ask the monthly ...
max occ4/13/2005
  Q: I have a rental question. I live in Quincy California. I want to rent a two bedroom house. I have my ...
  A: I answered the question and then left out of town and put myself on vacation. Somehow, my answer ...
Residential Real Estate Investment3/29/2005
  Q: I have a bit of capital that I'd like to invest in residential real estate such as Condos, ...
  A: Given the "if everything could be ideal" I would stay local. It's much easier to manage property ...
Marketing Plan3/16/2005
  Q: I've found the property I want and I have a contract. My next step is to formulate a marketing plan ...
  A: Hugh -- Thank you for the question. Lazy? No way. Putting a sign in the yard is the ABSOLUTE best ...
Rental property - Income taxes2/7/2005
  Q: My sister and I own a rental property in Branson, MO that we purchased in mid-2004. We both live in ...
  A: I am not a cpa and I'm not giving you tax advice. That being said, here's what we do when we have ...
Finding properties1/26/2005
  Q: I have recently decided that I want to purchase one or several smaller income properties. (duplex, ...
  A: When we started in this business we did us a realtor. After talking with many, we found a realtor ...
Missouri real estate12/27/2004
  Q: We are new investors (we own a single family rental along with our own home in California) and we ...
  A: 99% are out of state owners. I see two options for you. If you are determined to purchase out of ...
Property Management10/29/2004
  Q: I am a Realtor working for a new real estate company. The owner has requested I look into starting a ...
  A: List property managment on your business card and when people as, always tell them realtor and ...
Buying my first rental property10/3/2004
  Q: Stefani, I am trying to buy my first rental property and I do not have any cash for a down payment. ...
  A: there are creative things you can do depending on the type of deal you're working. If you look for ...
Listing on the Internet9/25/2004
  Q: I was wondering what is a good website to list my property for rental? I am currently using ...
  A: I'm not familiar with many sites for listing rental property; however there are numerous ones. ...
1st Rental Property9/15/2004
  Q: I live in California. We just recently bought our 2nd house, and were intending to sell the first ...
  A: I would say sell it. You are in a negative cash flow situation. And even if you were breaking ...
General Questions9/10/2004
  Q: I am a college student in west texas that wants to get into property management. I have a few ...
  A: I would say they most costly repairs to make are roofing (when new decking is needed.) The cost of ...
NOI - Net operating Income.9/10/2004
  Q: I have seen this number, NOI - what does this mean. Does this mean after or before debt service? ...
  A: Operating income is net sales less direct and indirect operating costs and before deducting cost of ...
Rising Interest Rates??8/21/2004
  Q: I'm considering purchasing a second condo for rental purposes, although I have some serious ...
  A: Wow -- that's a lot of information for me to digest. I'll try to give you my best answer. 1st, as ...
Renting out my condo6/30/2004
  Q: I am relocating from Methuen, MA to Manhatten. I would like to rent out my condo rather than sell ...
  A: George -- I'm not sure of the distance you're moving but I'm guessing it's too far for you to look ...
Evicting a Tenant on a MTM contract6/29/2004
  Q: What steps should be taken when evicting a tenant with a MTM contract due to non-payment of rent ...
  A: A month to month lease is treated the same as a 12 month lease for eviction purposes. I'm telling ...
fixit ques6/24/2004
  Q: I am living in a rental house in California. My bedroom door is missing a doorknob, the bathroom ...
  A: the landlord should replace/repair those. The light switches should also be repaired/replaced ...
What constitutes "bad credit" for a renter?5/27/2004
  Q: My husband and I got married in March, and we are looking for an apartment or house to rent. ...
  A: Andreia -- with the information you have given me my advice is to let your husbasnd fill out the ...
1st time landlord5/20/2004
  Q: I bought a small single family bungelow for investment purposes. It is a fixer-upper, but I can do ...
  A: I guess the first thing I would tell you is: trust your instincts. If you like someone that's ...
Property lease4/28/2004
  Q: Ms Nachatilo, You are where I want to be in 5 years. I am wanting to lease my current first ...
  A: My husband and I are in business together and he has studied extensively and gone to many many ...
Rental Payments4/18/2004
  Q: I'm thinking of setting up an "auto-payment" feature for my tentants. If they allow my property ...
  A: it sounds like a good idea. My guess is you would have to set the transactions up with each ...
Apt. Manager Credentials4/15/2004
  Q: I would love the opportunity to be a residential apartment manager to get experience in property ...
  A: 1st, (in Oklahoma anyway) you don't don't to be a realtor to manage an apartment if you live in one ...
Apartments/Furnished vs. Unfurnished4/11/2004
  Q: Nachatilo, I'll be looking real soon for an apartment in Nashville, Tennessee. I'm single/no ...
  A: Most landlords want a minimum of a 6 month lease because even though you might take good care of the ...
Renting Home/Apartment2/27/2004
  Q: Nachatilo, I'm moving to Nashville, Tennessee in April and will be looking preferrably for a two ...
  A: Did you have some problems with the apartment you are renting now? I would just say, make a list of ...
Cap Rate1/9/2004
  Q: What is the definition of cap rate from an income approach. My Real Estate mentor uses a 15% cap ...
  A: Mostly cap rate is used for commercial and multi-family properties. We don't use it, pe se-- what ...
asking realtor to rent our condo out1/2/2004
  Q: We plan to rent our townhouse out through a realtor. We talked with a few realtors. Is it normal ...
  A: it's normal to ask for some kind of contract, because as a manager, you don't want to go to a lot of ...
rental house - tax consequences11/5/2003
  Q: I live in MI. My sister lives in AZ. I am looking to buy a house in AZ and rent it out to my ...
  A: If you were to co-buy this house -- that is have her on the mortgage with you you would probably get ...
investment strategies8/20/2003
  Q: We are moderate income homeowners that wish to purchase a 6-8 unit multifamily building.We are ...
  A: Some strategies that come to mind are: If you are not tied to a particular mortgage lender -- SHOP ...

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Stefani Nachatilo

Top Expert on this page

Expertise

I can answer basic beginner questions like "How do I get started buying my 1st rental property" and "What to look for when taking an application on a tennant." "Here`s what capital I have to work with -- what are my options?"

Experience

I started purchasing rental properties in 1995 with my husband, part-time, while working a full time job. We started with very little seed money. One year we purchased 11 single family units. Recently we bought 5 properties in 2 months. We purchased our 1st small apartment building in 2004. I am now managing our units and doing property investing and management full time.

Publications
My Husband and I have written a book for the new real estate investor, "Weekend Warrior's Guide to Real Estate Investing", published by Tate Publishing. Can be purchased from TatePublishing.com or Amazon.com. Have been published in Real Profits by Carlton Sheets and Discount Buyer's Association monthly magazine.

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