Comments on: Houston Apartment and General Real Estate Update http://www.livelearninvest.com/houston-apartment-and-general-real-estate-update/ Living life to its fullest by generating passive income through investments Thu, 02 Feb 2012 03:11:13 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Emily http://www.livelearninvest.com/houston-apartment-and-general-real-estate-update/comment-page-1/#comment-20559 Emily Fri, 18 Jan 2008 21:22:48 +0000 http://www.livelearninvest.com/blog/houston-apartment-and-general-real-estate-update/#comment-20559 Congrats on your business!! You should be greatful that your loans are fixed, far better than most but try researching a "simple interest" loan. It's probably not time to refinance but it's for future reference. Find a company who charges a flat fee rather than points and have them researched by the BBB. If tenents are going to be late, you need to let them know that they can be upfront and tell you in person. That way you can have an estimated time of payment. It must be done in person because it not ony shows your firm kindness, it reiterates the late fee should be made out to you. Face to face is also more commitment based. Maybe have a cash policy for late fee? (If 125 units are filled, each tenant might be late 1 month per year, and if you don't get that once per year late fee that's over $3700) Also, consider a firmer authority and more effective writing when your policy changes. If I knew my management office was stern, I would make it my duty to do as they say, when they say it. Apologies for my ramblings. Congrats on your business!! You should be greatful that your loans are fixed, far better than most but try researching a “simple interest” loan. It’s probably not time to refinance but it’s for future reference. Find a company who charges a flat fee rather than points and have them researched by the BBB.

If tenents are going to be late, you need to let them know that they can be upfront and tell you in person. That way you can have an estimated time of payment. It must be done in person because it not ony shows your firm kindness, it reiterates the late fee should be made out to you. Face to face is also more commitment based. Maybe have a cash policy for late fee? (If 125 units are filled, each tenant might be late 1 month per year, and if you don’t get that once per year late fee that’s over $3700)

Also, consider a firmer authority and more effective writing when your policy changes. If I knew my management office was stern, I would make it my duty to do as they say, when they say it. Apologies for my ramblings.

]]> By: Shaun http://www.livelearninvest.com/houston-apartment-and-general-real-estate-update/comment-page-1/#comment-20522 Shaun Fri, 18 Jan 2008 15:05:59 +0000 http://www.livelearninvest.com/blog/houston-apartment-and-general-real-estate-update/#comment-20522 Good luck getting the late fee. My property management company keeps late fees as payment for their effort in collecting the rent. I called a couple other management companies and that seems like standard procedure. I'd like to know if your company is different. No excuse on waiting a month to send you the rent though. Good luck getting the late fee. My property management company keeps late fees as payment for their effort in collecting the rent. I called a couple other management companies and that seems like standard procedure. I’d like to know if your company is different. No excuse on waiting a month to send you the rent though.

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